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Investors - FEBRUARY 22, 2021

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Downing makes second investment in battery storage sector

by Released

Investment management firm Downing has finalized the selection of its co-funding partner and entered into agreements regarding a 50-megawatt battery storage project.

The deal represents Downing’s first front-of-the-meter battery asset and is one of the largest in the United Kingdom. Grid connection works are already largely complete, and the project is expected to connect to the grid and begin operations in August 2021.

“Battery storage solutions are increasingly important as a renewable energy enabling technology in our ongoing mission to combat climate change,” said Sean Moore, investment director at Downing. “We are proud and excited to be spearheading this exciting deal with a cohort of industry leading suppliers and investors.”

Hyosung Heavy Industries corporation was selected as the battery energy storage solution provider following a competitive process. The project marks the South Korean supplier’s first transmission-connected battery project

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