Zurich-based energy storage owner-operator BW ESS, the largest shareholder of Penso Power, has agreed to acquire the remainder of the British renewables and energy storage business, significantly enhancing its project pipeline by adding more than 2 GW of battery storage capacity.
While the terms of the transaction have not been disclosed, the acquisition will see Penso's founders transition into shareholders and senior management roles within the newly combined entity once the deal is finalized.
With the completion of this acquisition, the expanded BW ESS will comprise nearly 30 energy storage specialists and possess a robust project pipeline of approximately 5 GW across various regions, including the UK, Sweden, and Australia.
Penso Power has been actively developing and deploying large-scale battery energy storage projects in the UK, Italy, and Australia. In a notable recent achievement, the company signed a 1.4-GWh energy storage supply agreement with China's Sungrow Power Supply Co Ltd.
BW ESS and Penso Power have been collaborating since 2021, currently working on the construction of the 100-MW/331-MWh Bramley battery storage project in Hampshire. They have also established a seven-year tolling agreement with Shell Energy Europe Limited, further enhancing their operational capabilities.
