Intelligent Land Investments (ILI) Group has officially completed the sale of its 50MW battery storage venture, the Balnacraig project, situated in the Scottish Highlands, to EDP Renewables (EDPR). The project is poised to play a pivotal role in grid management, offering crucial flexibility and bolstering Scotland's commitment to a sustainable renewable energy strategy.
Construction for the Balnacraig project is slated to commence in the coming months, with the ambitious goal of initiating operations by early 2025. This transaction marks a significant milestone, propelling ILI Group's progress in energy storage projects to an impressive 900MW at the development stage.
ILI Group boasts a comprehensive portfolio of 4.7GW of energy storage initiatives across Scotland, encompassing 2.5GW of pumped storage hydro and an equivalent 2.5GW of battery storage. This substantial commitment underscores the company's dedication to fostering resilient infrastructure for balancing energy supply and demand.
EDP Renewables, a global leader in renewable energy development, is strategically investing in optimizing resources and enhancing energy efficiency through the development of storage projects in the UK, a key European market.
Mark Wilson, CEO of ILI Group, expressed satisfaction with the sale, stating, “We are pleased to announce this sale of our 50MW Balnacraig battery storage project to EDPR, a global leader in renewable energy development. Energy storage is absolutely vital to supporting the continued growth of renewables and ensuring grid stability as we work to decarbonize our energy system.”
Carmen Caminero, UK Country Manager at EDP Renewables, echoed the sentiment, emphasizing the significance of the acquisition in advancing the company's commitment to sustainable energy practices. “By adding this new asset to our portfolio in the UK, a leading market in storage systems, we are paving the way for other investments in this crucial technology for a sustainable energy transition,” Caminero stated.
