Eelpower’s Joint Venture with SUSI Partners delivers 150MW Storage Portfolio for the GB System

Eelpower is pleased to announce that its partnership with SUSI Partners, the Swiss infrastructure fund manager that specialises in sustainable energy infrastructure investments, has successfully concluded the acquisition of a new storage portfolio of 150MW at three sites in the UK.  The news coincides with SUSI concluding the investment phase for the first-of-its-kind, dedicated Energy Storage Fund launched in 2017.

Since the SUSI/Eelpower joint venture was announced in January 2021, a series of existing and construction-ready storage assets – totalling 150MW – have been acquired. The joint venture’s acquisitions build on Eelpower’s sale of multiple assets to SUSI Partners at the end of 2020, including the 10MW Leverton storage facility near Lincoln, the 20MW Rock Farm storage facility in Shropshire, and a 10MW battery near Winchester.

Today’s statement follows Eelpower’s announcement last month of a £100m joint venture with NextEnergy Solar Fund that plans to build a 250MW portfolio of energy storage assets in the UK. 

Mark Simon, Chief Executive of Eelpower said: “Our partnership with SUSI has been delivering very effectively.  We are very pleased that the investments in the UK that SUSI has made with Eelpower formed an important piece of their Energy Storage Fund’s portfolio – the first-ever dedicated storage fund in the world.”

“The Eelpower team has demonstrated its abilities in acquiring, constructing and managing UK storage assets on behalf of investors and asset owners.  Since 2017, Eelpower has generated among the highest revenues per MW of all storage operators in UK.”

“With the rate of growth in the UK storage market set to increase – in response to more intermittent renewable energy and the crucial importance of grid balancing services – Eelpower is well positioned to capitalise on current and future investment opportunities on behalf of SUSI, NextEnergy and other investors, and with storage developers and owners.”

The 150MW SUSI portfolio included deals with storage developers Gigabox, RNA Energy and ILI.