The plan includes long-term investments in battery energy storage projects that play a central role in the market, supporting the increasing penetration of renewables in the global energy mix.
The project is located at Holes Bay, Dorset, UK, in collaboration with the British developer Harmony Energy.
The Holes Bay project will be comprised of lithium-ion batteries with a combined capacity of 15 MWh, connected to the Southern Electric Power distribution network, with the capability to store energy and provide flexibility to the grid.
Construction will start in January 2020, with commissioning expected within three months.
Harmony Energy, with the backing of FRV, has also conditionally pre-qualified 300 MW of new battery energy storage systems in the UK Capacity Market, with this pre-qualified capacity making up 16% of the total 1.8 GW battery energy capacity. The UK has been a pioneer in deploying these systems in a competitive and open market, creating perfect conditions for integrators, developers and investors to embrace the benefits of incorporating these clean technologies into the energy mix.
