- Brookfield renewable signs agreement with Cambridge Power.
- Both companies will develop a 985MW of battery storage.
Brookfield Renewable Partners has signed a framework agreement with UK’s Cambridge Power to develop a portfolio of battery storage and solar PV. Both companies are to build on an exclusive basis over 800MW of full consented battery energy storage systems (BESS) and 185MW of co-located solar for investment over the next five years.
Brookfield will provide capital to construct the portfolio, while Cambridge Power will manage the construction and operation of the assets. The projects will commence construction this year, with energisation scheduled for 2023. In a statement by Richard Stanton, chairman of Cambridge Power, “This partnership represents a terrific opportunity for Cambridge Power to develop and operate one of the UK’s leading BESS and solar PV portfolios.”
Brookfield Renewable, partly owned by Brookfield Asset Management, currently has a portfolio of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia. It totals over 21,000MW of installed capacity, with an approximately 62,000MW development pipeline.