British renewable energy developer Green Hedge Energy UK has received investment of £30 million from private equity fund Zouk Capital to support the development of large-scale storage projects across the U.K. over the next 12 months.
Green Hedge will focus its efforts over the coming year on developing projects for the ancillary service market, which is a segment of the storage sector that the company believes is going to change significantly over the coming few years.
“The Green Hedge team has done a great job at de-risking the otherwise challenging business case of energy storage,” said Zouk Capital partner Massimo Resta. “The power sector is changing rapidly due to the rapid growth of renewables and the decommissioning of traditional power generation assets.”
Green Hedge introduced into the U.K. the Energy Barn storage system, which is comprised of racks of lithium-ion batteries, inverters and transformers that can connect to various parts of the U.K. power grid, and work with renewable energy sources, farms or commercial establishments up and down the country.
The Bath-based firm has developed a portfolio of 20 solar farms across the U.K. and currently has some 150 MW of solar power generating capacity under its belt.