Macquarie’s Green Investment Group (GIG) and Enso Energy have announced a joint venture to develop over 1 GW of subsidy-free solar and battery storage projects across the UK. GIG and Enso Energy have identified an ambitious pipeline of projects which are currently in development. These projects are to be set up across England and Wales and will be backed by power purchase agreements. Many of these projects will use new tracking and bifacial solar technology to maximize the energy produced per hectare.
Enso Energy has in the past developed large scale energy projects, and has a portfolio of over 1,500 MW of distributed energy projects. Meanwhile, Macquarie and the GIG have supported nearly 7.5 GW of renewable projects in the UK.
The solar and battery storage hybrid projects are able to provide a more flexible output, address demand during peak periods, as well as provide auxiliary services and stability to the grid to facilitate integration of renewable energy. Such hybrid projects will help the UK meet its climate change commitments by 2050.