JLEN acquires 50-MW battery storage project in UK

JLEN Environmental Assets Group Ltd., a London-headquartered environmental infrastructure investment fund, acquired a 100% equity stake in Gigabox South Road Ltd., which holds development rights to construct the 50-MW West Gourdie lithium-ion battery energy storage plant in Dundee, U.K.

The project is fully consented and construction-ready and is expected to reach energization and start commercial operations in March 2022, JLEN said in a March 3 news release.

The acquisition will see JLEN invest up to £21.2 million over the next 12 to 15 months, according to the news release.

West Gourdie will be connected to Scottish Hydro Electric Power Distribution PLC's distribution network and has a 49.9-MW import and export connection.

This acquisition represents JLEN's third investment into battery storage systems, adding to two co-located batteries the company owns as part of its run-of-river hydro portfolio.

"We believe that plants such as this one will play an important role in the decarbonization agenda by providing balancing support to the local network and allowing for greater levels of renewable generation on the network," JLEN Chairman Richard Morse said in the news release.