SAE and Econergy form JV for new UK battery storage project

LONDON - SIMEC Atlantis (WA:ATSP) Energy Limited (SAE) and Econergy International Limited have formed a joint venture to co-develop a new 250MW battery storage project at the Uskmouth Sustainable Energy Park (USEP) in the UK. This collaboration aims to capitalize on the growing demand for energy storage solutions and leverage the strengths of both companies in the renewable energy sector.

The AW2 Battery Storage project, designed to have a potential capacity of up to 1,250 MWh with a duration of up to 5 hours, is poised to be the third of its kind at the USEP. The site is already recognized as one of the UK’s leading locations for battery storage, with over 1GW of projects in various stages of construction and development.

SAE, known for its expertise in renewable energy generation and battery storage projects, brings to the table its ownership of the strategically important USEP site. Econergy contributes its specialized knowledge in battery storage construction, financing, and execution. The partnership is expected to streamline the planning process and move the project towards financial closure, with planning permission aimed within the next 12 months and financial close anticipated in 2027.

Graham Reid, CEO of SAE, expressed enthusiasm about the partnership, highlighting the alignment in strategy between the two companies to be independent power producers and the benefits this project will bring to their businesses, the community, and shareholders.

Joshua Murphy, Head of Energy Storage at Econergy, remarked on the joint venture as a strategic milestone for Econergy’s expansion in the UK energy storage market. He emphasized the importance of the AW2 project in supporting UK grid stability and the company’s ambition to be a leading provider of sustainable power solutions.

This joint venture represents a significant step in the development of critical infrastructure for the UK’s energy sector, with both companies committed to enhancing the stability and sustainability of the power grid.

The information for this article is based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.