New joint venture in UK to boost battery storage scheme

CCUS

United KingdomPenso Power, the creator and developer of Europe’s largest operating battery storage scheme, the 100MW Minety project in Wiltshire, has formed a partnership with BW Group.

To fund Penso Power’s pipeline of large-scale battery storage projects, including those up to 350MW in connection capacity in the UK over the next 3-5 years, BW has agreed to provide funds.

Penso Power and BW Group will become joint owners of the battery project as a result of the deal. Additionally, BW Group will contribute directly to Penso Power, with Erik Strms, the Managing Director of BW Renewables and a member of the BW Group’s Executive Committee, joining the Penso Power board of directors.

CMS Cameron McKenna Nabarro Olswang advised Penso Power. Bird & Bird, a law company, advised BW Group.

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Wim Raaijen
I am a creative publisher, editor in chief, writer, vlogger and moderator with a journalistic and philosophic based view. Trying to re-invent the concept of publishing, based on platforms and partners, instead of separated media and advertisements. I am interested in industrial subjects like transition, sustainability, safety, energy efficiency, innovation and responsibility.