CIP to sell minority stake in 500MW Devilla battery project

Copenhagen Infrastructure Partners (CIP), connected behalf of Copenhagen Infrastructure IV, has agreed to merchantability number stakes successful the 500MW Devilla artillery retention task to the Scottish National Investment Bank and the Nuclear Liabilities Fund.

The facility, presently nether operation successful Kincardine, Scotland, is expected to beryllium commissioned successful 2028.

It is acceptable to go 1 of the largest artillery retention installations successful Europe.

The Devilla task uses lithium-ion (Li-ion) exertion and provides 2 hours of vigor storage.

It is underpinned by a suite of contracts including a ten-year optimisation statement with SSE and a 15-year capableness marketplace contract.

Together, these arrangements are designed to enactment unchangeable revenues portion allowing the task to payment from marketplace fluctuations.

Nuclear Liabilities Fund CEO Melissa Hope said: "NLF is pleased to spouse with CIP and the Bank connected this artillery retention project.

"This concern aligns with our strategical concern objectives portion supporting UK vigor information and economical growth."

CIP volition clasp its bulk involvement and proceed to oversee the task done the operation phase.

Devilla is 1 of 3 artillery retention systems successful Scotland presently being developed by CIP successful collaboration with Alcemi.

Together, the 3 sites volition beryllium capable to present a combined powerfulness capableness of 1.5GW and store a full of 3GW-hours of electricity, which, according to task estimates, could proviso much than 4.5 cardinal homes for 2 hours.

CIP is besides moving connected an further 4.5GW of pipeline artillery retention projects passim Scotland and England.

CIP spouse Nischal Agarwal said: "As CIP's improvement and operation portfolio of UK BESS [battery vigor retention systems] projects continues to advancement and grow, we look guardant to welcoming the Scottish National Investment Bank and Nuclear Liabilities Fund arsenic caller equity partners connected our Devilla site.

"Once commissioned successful 2028, Devilla volition beryllium 1 of Europe's biggest operational BESS projects.

"The transportation of Devilla, alongside CIP's Coalburn 1 and 2 projects, volition amended the UK's vigor information and trim costs for British consumers done enhanced strategy flexibility and entree to much low-cost renewables."

In April this year, CIP, via its Growth Markets Fund II, announced the last announcement to proceed for the 300MW/1,500MW-hour Patache task successful Chile.

"CIP to merchantability number involvement successful 500MW Devilla artillery project" was primitively created and published by Power Technology, a GlobalData owned brand.