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Foresight Solar And JLEN Invest In 49.9MW BESS Project In Scotland
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News: Foresight Solar Fund and JLEN Environmental Assets Group have jointly acquired Gigabox No 4, a firm holding the rights to develop a 49.9MW lithium-ion battery energy storage system (BESS) in Angus, Scotland. Under the deal, each firm will invest around GBP16mn (USD17mn) to acquire a 50% stake in the project. The project is expected to reach commercial operations in early 2024. The power plant will be linked to the Scottish Hydro Electric Power Distribution network, starting off with an initial capacity of 45MW and thereafter increasing to full capacity by 2025 (Renewables Now).
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