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    Foresight Solar And JLEN Invest In 49.9MW BESS Project In Scotland

    October 3, 2022 - Fitch Solutions Sector Intelligence


      • Infrastructure
      • United Kingdom
      • Company Brief
      • Fitch Solutions

      Foresight Solar And JLEN Invest In 49.9MW BESS Project In Scotland

      • 3 Oct 2022
      THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data are solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research.

      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).

      This report from Fitch Solutions Country Risk & Industry Research is a product of Fitch Solutions Group Ltd, UK Company registration number 08789939 ('FSG'). FSG is an affiliate of Fitch Ratings Inc. ('Fitch Ratings'). FSG is solely responsible for the content of this report, without any input from Fitch Ratings.


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