Transactions - SEPTEMBER 12, 2022

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NextEnergy Solar Fund enters battery-energy storage partnership with Eelpower

by Kali Persall

NextEnergy Solar Fund has entered into its second joint venture with Eelpower, a pioneer in the development of the United Kingdom’s new electricity infrastructure.

The companies plan to work together to develop battery-energy storage opportunities through their new £200 million pound ($231.8 million) partnership,

According to reports, this agreement builds on an existing £100 million ($116 million) joint venture partnership the companies signed in September 2021. The new joint venture increases NextEnergy’s ownership to 75 percent, with Eelpower holding the remaining stake. It also significantly increases NextEnergy’s position in the U.K. battery-storage sector, enabling it to actively pursue a pipeline of more than 500 megawatts of battery energy-storage opportunities.

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