Eelpower has forged a multi-asset agreement with SUSI Partners, closing its most significant funding round to date.
Under the new joint venture, Eelpower and SUSI will construct and operate a pipeline of new battery storage assets in the United Kingdom. SUSI has also purchased 40 megawatts of electricity storage assets from Eelpower.
The first stage of the partnership will include the construction of a new 50-megawatt battery storage project in Scotland, which will commence in February.
“The establishment of this joint venture comes at an important moment in the development of the U.K. electricity system,” said Mark Simon, CEO of Eelpower. “We look forward to working with them and the best route-to-market counterparties as we construct and operate a portfolio of high-performance grid-connected storage assets on our way to building a 1-gigawatt electricity storage utility.”
This marks SUSI Partners’ first investment in the United Kingdom’s ener
