Macquarie’s Green Investment Group (GIG) and Bluestone Energy, a renewable-energy developer, have entered into a joint development agreement (JDA) to develop up to 2 gigawatts (GW) of U.K. battery-storage projects.
To meet the United Kingdom’s 2050 net-zero target, it is estimated the proportion of intermittent wind and solar capacity in the generation mix will need to increase to almost 60 percent by 2030. Battery-storage provides grid operators with the tools and flexibility to deal with this increased variability of supply and finely match it to demand.
The partnership will seek to develop up to 2 GW of storage projects. Projects representing 970 megawatts (MW) are already in early-stage development, having secured grid-connection offers, with the pipeline continuing to grow steadily.
The pipeline adds to GIG’s growing battery-storage portfolio and leverages the in-house expertise of its Global Energy Technology team. Last year, GIG announced the acqui