NESF and Eelpower plan to jointly deploy a 250MW battery energy storage project

　　Next Energy Solar Fund (NESF), an investor in solar power generation assets listed on the London Stock Exchange, said a few days ago that it has signed a cooperation agreement worth 100 million pounds (136.8 million US dollars) with battery energy storage manufacturer Eelpower. And reached a joint venture partnership.

　　The two companies will jointly deploy a portfolio of battery energy storage projects with a total installed capacity of up to 250MW, and have acquired a 50MW stand-alone battery energy storage project under construction in Fife, Scotland. The project is expected to be officially put into operation and connected to the grid in 2022.

　　This move is part of Next Energy's decision to diversify its portfolio of more than 99 solar power assets. This complex investment authorization was approved by shareholders in September 2020. It is planned to use 10% of the fund's total assets to invest in the deployment of energy storage projects.

　　NESF is a subsidiary of the investment fund of Next Energy Capital, a solar investment and asset management group. According to the information released on the company’s website, as of the end of June this year, NESF has deployed solar power generation facilities with a total installed capacity of 893MW, with a current market value of 5.88 Billion pounds.

　　By reaching this joint venture partnership (JVP), Next Energy will own 70% of the investment portfolio and Eelpower will own 30%.

　　Ross Grier, General Manager of Next Energy Capital's UK branch, said: "This is an exciting transaction and opportunity for NESF, as we have launched the first independent deployment of battery energy storage projects to the fund. The energy field has been in the field for many years. As early as 2017, it acquired two small battery energy storage systems."

　　The acquisition can bring opportunities for a variety of different sources of income, including arbitrage energy transactions in the UK electricity market, contracts in the capacity market, and the provision of ancillary services including fixed frequency response and dynamic containment.

　　Next Energy is planning to deploy solar power generation facilities with a total installed capacity of 400MW, thanks to the recent strong performance brought by high electricity prices.

　　Eelpower has also been seeking to expand its asset portfolio recently, and it signed another contract with SUSI Partners in January this year, planning to deploy an energy storage system with an installed capacity of 1GW.

　　Mark Simon, CEO of Eelpower, said: "Since 2015, Eelpower has entered the energy storage field. We are very pleased to work with NESF to lead the next phase of the UK's energy transition."

　　Lithium-ion battery (LIB) has become the main energy storage solution in modern social life. Among them, lithium iron phosphate batteries are a perfect substitute for lead-acid batteries and are the first choice for grid-connected peak shaving, off-grid energy storage, photovoltaic energy storage, UPS, data center and other industries.

　　Wind energy, solar energy, etc., combined with lithium battery energy storage systems, are very promising clean energy sources.