RGREEN INVEST – a leading independent French investment management company specialized in equity investments and financing for infrastructure projects related to the energy transition and to the climate change adaptation – has announced its first investment in the UK.
While energy storage is critical for the UK, four greenfield projects with a total capacity of 110 MW have been purchased from Arlington Energy and funded by the INFRAGREEN IV fund, which closed in June with a total capitalization of 670 million euros.
“This first venture in the UK energy storage market reinforces our internationalization strategy. RGREEN INVEST’s ambition is to become a recognized European player in this market. The choice of the United Kingdom is significant as the country has identified energy storage as a priority to accelerate its transition to renewable energy sources.” – says Nicolas Rochon, Founder and CEO of RGREEN INVEST.
100% owned by INFRAGREEN IV through its dedicated IPP platform, these infrastructure projects were developed by Arlington Energy and their construction will be managed by the UK company Battery Asset Management. The Projects are in talks with several aggregators for their route to market and with several debt providers for their funding. The four sites are scheduled to become operational between Q1 2022 and Q3 2022 and are located in Chesterfield, Rochdale, Plymouth and East Sussex.
National Grid says UK could need 13GW of energy storage by 2030 to ensure net zero future In 2019, under the Climate Change Act, the UK Government legally committed to achieving net zero by 2050. National Grid has identified energy storage as a significant enabler for the adoption of renewable energy if the UK is to meet net zero. National Grid also identified a minimum of 13GW needed by 2030 to facilitate the transition to net zero.