Voltalia has made its first venture into battery storage in the UK, completing the let of a 33MW facility near Bristol from Electric Land.
Through a joint venture with the Low Carbon Alliance, Electric Land has completed the letting of phase 1 of the Avonmoth Energy Park to Voltalia. The park was leased for 25 years, and has planning permissions, grid connection and a capacity market contract for the battery storage facility.
A lease has been completed for the site of a major new battery storage facility in Avonmouth, near Bristol, England, Insidermedia.com reports.
Electric Land, which is part of the fund management business Foundation Property & Capital Group, has completed the lease of the new facility to Hallen Energy, part of the Voltalia Group.
Paris Stock Exchange-listed Voltalia is set to build a 33MW battery storage project at the site, marking its first battery storage venture in the UK.
Ben Lansman, group managing director at Foundation Property & Capital, said: “Since the launch of our first house fund in 2011, we have focused on niches where we can use our rare expertise in managing small, complex projects to generate a secure income return, whilst focusing on creating significant capital value.
“Initially that was primarily from convenience retailing, but for the last five years it has also and increasingly been from energy infrastructure. We take early stage development risk and actively manage projects which ultimately deliver long, ultra-secure, index-linked income from infrastructure ground rents.”
Electric Land was advised by law firm Shakespeare Martineau on all legal aspects regarding the completion of the lease, including site acquisition back in 2018.
Peter Dilks, partner and head of the energy projects and renewables sector at Shakespeare Martineau, said: “Electric Land is making real waves in the energy sector with this deal. Supporting them in getting the project over the line, especially with such a large international operator involved, has given us all a real sense of achievement. I am sure that there is more success to come for the business.”
