Specialist investor FPC Electric Land has bought a freehold site at Uskmouth Power Station for a major battery storage project.
The site, in Newport, Wales, will deliver a circa £150m battery storage development providing 230MW of energy storage, with a further potential capacity of 120MW, which will trigger a pro-rata rental increase upon the date it is made available.
The nine-acre plot is a former coal stocking site and has been sold by SAE Renewables.
SAE Renewables had already agreed a 30-year lease of the development to Uskmouth Energy Storage, a special-purpose vehicle of value-add investment manager Quinbrook Infrastructure Partners.
FPC Electric Land head of acquisitions Jack Culmer said: “The Uskmouth site will house, what will be, one of the largest battery storage facilities in the UK and will sit well within our 30-asset investment portfolio of freehold, grid connected land.”
CBRE advised FPC Electric Land on the deal.
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