UK renewable energy company Low Carbon has announced the sale of a 6-GW battery energy storage (BESS) portfolio to S4 Energy, a Dutch developer and operator of grid-scale energy storage. S4 Energy is majority-owned by global merchant firm Castleton Commodities International (CCI).
The portfolio includes a combination of early, mid, and advanced-stage developments, making it one of the largest utility-scale battery storage portfolios introduced to the market. The assets were developed by LC Energy, a joint venture between Low Carbon and Dutch engineering firm Qing.
While financial terms of the transaction were not disclosed, the deal is seen as a significant advancement for S4 Energy. Mohit Singh, a principal in CCI's European Principal Investments team, stated that this investment is a transformative step towards establishing a fully integrated, pan-European battery energy storage system platform.
S4 Energy currently manages 60 GWh of operational and under-construction battery assets, with an additional 1,050 MWh in its development pipeline. Among its recent projects is the 10-MW/40-MWh Zeeland battery, located in Rilland, which is expected to commence operations by mid-2025.
