Enel has bought a 25MW construction-ready battery storage project in the UK from Element Power.
The Italian energy company acquired shares in Element Power’s wholly-owned subsidiary Tynemouth Energy Storage Limited to buy the project.
Its overall investment in the development is €20m, Enel said.
The project, which is expected to be commissioned in early 2018, was one eight selected by the UK National Grid in its competitive tender for enhanced frequency response last year.
Element Power said it will continue to support Enel in the delivery of the project in line with National Grid’s guidelines.
RES has been awarded the EPC contract for the project following a competitive procurement process run by Element Power and Enel.
Element Power chief executive Mike O’Neill said: “Element Power is delighted to work with Enel in delivering one of the country’s first battery storage facilities to provide ancillary value-added services to the UK’s National Grid.”
Law firm Pinsent Masons advised Element Power on the construction, procurement and sale of the project.
Image: RES is EPC contractor on the Tynemouth project (RES)