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June 29, 2020updated 18 Aug 2020 5:00am

GIG and Enso team up to develop UK solar and battery portfolio

Macquarie-owned Green Investment Group and Enso Energy have formed a joint venture to develop subsidy-free solar and battery portfolio in the UK.

Macquarie-owned Green Investment Group (GIG) and Enso Energy have formed a joint venture to develop a subsidy-free solar and battery portfolio in the UK.

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The joint venture aims to develop 1GW of solar capacity across England and Wales using power purchase agreements for funding. Enso and GIG have said they will initially focus on grid-secured projects solr and batter projects. Plans are currently being prepared for planning approval.

Upon receiving approval, the solar power projects will use advanced tracking and bifacial solar technology. Integration of battery storage technology will help the facilities meet demand during peak periods.

Green Investment Group Europe head Ed Northam said: “From our origins in the UK as the world’s first green investment bank, GIG has grown into a global green energy powerhouse while remaining steadfastly committed to accelerating the UK’s transition to a greener economy.

“The UK’s solar market holds huge potential to create green jobs and help the UK get closer to its aim of becoming a net-zero economy.

“By combining GIG’s deep technical and financial capabilities with Enso’s highly experienced development team, our partnership has the skills and expertise to unlock that potential, bringing low-cost, low-carbon power to communities right across the UK.”

Enso Energy has developed 1.5GW of generation, while GIG and its predecessor have funded more than 7.5GW in the UK.

Last August, Macquarie’s GIG agreed to purchase a 40% stake in the East Anglia ONE windfarm for just over £1.6bn.

Related Companies

Free Report
img

Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
Get ahead of this growing market and win big by utilizing our report.
by GlobalData
Enter your details here to receive your free Report.

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