Copenhagen Infrastructure Partners (CIP) and Amberside Energy have partnered to develop a 2GW portfolio consisting of solar and battery energy storage system (BESS) projects across the UK.
The investment management company CIP, under its Flagship Funds, will provide capital to develop the various projects which will be included within the portfolio. Amberside will look to develop the projects with the financial backing.
The projects will enhance the UK’s net zero prospects whilst also maintaining economic opportunities at both a local and regional level. This will be achieved by ensuring ESG guidelines are met in addition to engaging with local communities on the projects.
The partnership is similar to a previously announced strategic partnership signed with Alcemi in March 2022 which saw the two companies commit to the development, construction and operation of a 4GW portfolio of UK energy storage assets.
The projects at the time were in late-stage development and between 300MW and 500MW each, with a storage duration of up to four hours. This made them some of the largest energy storage projects in Europe, the two companies said at the time.
“We look forward to a successful partnership with Amberside Energy for the development of a significant pipeline of clean-energy projects that will help accelerate the UK’s energy transition to net zero greenhouse gas emissions by 2050,” said Radu Gruescu, partner at CIP.
“UK solar and battery storage have become increasingly competitive in recent years and are now some of the most cost-efficient technologies, contributing to enhancing grid flexibility, resilience and increasing the overall security of supply. We look forward to working closely with AE’s highly experienced team to deliver projects that in addition to clean power at competitive prices also generate investment, jobs and socioeconomic benefits.”
Amberside originates, develops and manages utility-scale solar and energy storage projects. According to the company, it has over 1GW of projects originated with over 2,000 systems managed.
“We are delighted to form a partnership with CiP. Together, we will be able to accelerate the energy transition in the UK at scale,” said Marc Scambler, co-founder and CEO of Amberside Energy.
“Our origination and development efforts are well underway, and our proprietary grid model combined with experience gained from auditing and asset managing such schemes helps maximise the efficiency of the development process.
“We expect our first projects to be ready to begin construction in the next two years and to deliver significant benefits to the communities who host them as well as generating sustainable green power for many years ahead.”