The portfolio consists of three ready-to-build BESS projects located in the North of England which include the Newcastle and Drakelow projects totalling c.165MW as well as the c.85MW Drax project, which will become operational from 2024 onwards. All three projects were granted planning permission earlier this year with the sale completing in just 5 weeks.

Once energised, the projects will help facilitate the build out of renewable electricity by providing much needed frequency support and balancing services to the electricity network.  Construction is expected to begin on Newcastle and Drakelow in 2024 with Drax being built later. RES will be supporting TRIG with progressing the projects into construction and operation.

According to analysis by Modo Energy, the UK is currently 400MW behind its energy storage build-out targets and these projects will help the UK get back on track in order to meet its crucial Net Zero target by 2050. Collectively the energy storage systems will provide enough electricity to power nearly 100,000 homes at peak times of demand, assisting the Government’s objective to ensure energy security and lower energy costs. 

Aura Power was supported in the transaction by Jones Lang LaSalle which acted as the sell-side M&A advisor.

Simon Coulson, Director at Aura Power said "We are pleased to have reached another successful transaction close on our UK BESS pipeline. This sale builds on our success in the UK & Irish BESS markets with over 1GWh of projects now commercialised, approximately 50% of which are already operational.  We have a further global BESS pipeline in excess of 10GW and look forward to developing more battery storage projects in the UK and internationally."

Richard Crawford, of InfraRed Capital Partners, advisor to TRIG said: “Greater deployment of flexible capacity and renewable generation are crucial components in addressing energy security, decarbonisation and energy affordability. For TRIG, the addition of battery storage into an already diversified generation portfolio further reduces revenue variability, and draws on the deep expertise of InfraRed and RES of investing in and delivering development-stage projects.”

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