The Renewables Infrastructure Group (Trig) has bought a Scottish battery energy storage project for £20million
Trig, a London-listed investment company, said it would fund the deal for Broxburn Energy Storage using cash resources and a drawdown on its revolving acquisition facility
Construction of Broxburn should be finished by 2018 and will add to Trig’s 56 existing projects.
Trig chairman Helen Mahy said:”The use of battery storage is becoming increasingly important in enabling grid networks to match fluctuations in the supply and demand of electricity and to stabilise power frequency. This becomes especially vital as the installed base of renewables generation increases. We are excited to be playing a part in this by investing in Broxburn, one of the first large-scale commercial power storage projects to be developed in the UK.”
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