ElectroRoute, a subsidiary of Mitsubishi Corporation, has announced plans to expand its operations in the UK as it continues to strengthen its presence in the energy storage and renewables sectors. The company aims to contract 500 MW of renewable energy assets in Great Britain by the end of the financial year, further building on its existing portfolio.
Currently managing 1.9 GW of assets in Ireland, including over 250 MW of energy storage, ElectroRoute will enhance its UK-based energy trading team, adding to its 20-strong workforce in London. The company has already secured wind and solar projects under both equity and project finance structures in the UK.
ElectroRoute sees significant growth potential in the co-location of solar and energy storage assets, an area where market capacity is projected to surpass 20 GW in the medium term. The company plans to offer a range of services, including asset optimization, route to market, and revenue protection for renewables and storage clients, leveraging its 24/7 trading desk and team of expert traders.
Co-chief executive Caoimhe Giblin emphasized the company's commitment to solving the commercial challenges of a decarbonized energy system. She described the UK market as a strategic platform for future growth, with ElectroRoute already having executed its first transactions and negotiating additional opportunities in the renewable and storage space.
