CIP, Amberside Energy Partner For 2 GW Solar Plus Storage Project in UK

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Solar energy and storage projects developer Amberside Energy has partnered with Copenhagen Infrastructure Partners (CIP) for the development of 2 GW of solar and battery storage projects in the United Kingdom (UK). CIP is working on behalf of its flagship funds.

The official statement of CIP held that under the terms of the partnership, Flagship Funds will provide the capital for project development with the ambition of creating a portfolio of scale that, over time, will have projects in operation, in construction as well as under development. Subject to investment decisions at the time, CIP intends to provide the capital required for the construction of the projects in this portfolio.

CIP said that the projects are aligned with the UK’s net zero targets. Radu Gruescu, Partner at CIP, said, “UK solar and battery storage have become increasingly competitive in recent years and are now some of the most cost-efficient technologies, contributing to enhancing grid flexibility, resilience and increasing the overall security of supply. We look forward to working closely with experienced team of Amberside Energy to deliver projects that in addition to clean power at competitive prices also generate investment, jobs, and socioeconomic benefits.”

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Amberside Energy said that it will lead origination and development activities for the solar and battery storage projects while CIP will contribute its expertise in procurement, structuring and financing renewable energy projects.

“Our origination and development efforts are well underway, and our proprietary grid model combined with experience gained from auditing and asset managing such schemes helps maximise the efficiency of the development process. We expect our first projects to be ready to begin construction in the next two years,” said Marc Scambler, Co-Founder and CEO of Amberside Energy.

Currently, UK has a solar power capacity of about 14 GW and the Department of Business, Energy and Industrial Strategy (BEIS) wants to expand it to 50 GW by 2030.

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Recently, EDF Renewables and Luminous Energy announced their plans to develop solar power farm coupled with battery based energy storage infrastructure called Springwell Solar Farm having a potential output of up to 800 MW in the east Midlands region.