British energy developer Fotowatio Renewable Ventures (FRV) has successfully completed financing for its 7.5MW/15MWh Holes Bay battery energy storage project.

(Developed Holes Bay battery energy storage system jointly by FRV and Harmony Energy)

FRV and NatWest will jointly complete this transaction, and NatWest will provide non-contractual revenue models with non-recourse financing.

Felipe Hernandez, FRV-X’s global head, said, “This transaction strengthens the long-term sustainability of our business model and our leadership in the market. In this way, we are deploying other energy storage assets for FRV in the UK. The road has been opened up, and these energy storage assets are in the commercial operation, construction and development stages."

The Holes Bay battery energy storage system developed by FRV and Harmony Energy has been in operation since June 2020, and the second energy storage system (34MW/68MWh Contego energy storage project) developed in cooperation with Harmony has also recently started operation.

In addition, FRV and Harmony Energy began to deploy the 99MW/198MWh Clay Tye battery energy storage project. These three energy storage projects all use the Tesla Magapack lithium-ion battery energy storage system. FRA believes that in the foreseeable future, lithium battery energy storage systems will usher in a period of opportunity for rapid growth, because in the past ten years, lithium battery energy storage systems have been fully verified, and the cost has dropped to a large scale. The critical point used.

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.

Solar power generation system with lithium battery energy storage system is a very promising clean energy.