The Renewables Infrastructure Group (TRIG) has completed the acquisition of the under-construction 20MW Broxburn energy storage project in Scotland from RES for £20m.
The West Lothian battery project scheduled to be completed in early 2018 holds a bilateral Enhanced Frequency Response contract from National Grid.
The lithium-ion based system due to operate for 15 years will provide two-way grid balancing.
For the initial four years of operation under the National Grid contract revenues will be substantially based on pre-determined, RPI-indexed availability payments, TRIG said in a statement.
Broxburn is the second EFR project sold by RES in recent months after the sale in June of the 35MW Port of Tyne to private equity outfit Foresight Group.
Image: Energy storage (RES)