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NextEnergy Solar Fund Ltd - Guernsey-based investor and asset manager in the solar sector - Signs a £200 million joint venture deal with Eelpower Ltd. Says both the first and second partnerships pursue a pipeline of over 500 megawatts, worth of £300 million, battery energy storage opportunities. Says the second JV deal with the energy supplier increases NextEnergy Solar Fund, or NESF, ownership to 75%, with Eelpower holding 25%.
NextEnergy Chair Kevin Lyon says: ‘Battery storage is a vital technology in increasing the penetration of renewables in the UK. NESF has made excellent progress expanding and diversifying into this technology through its relationship with Eelpower.’
The 50 megawatts battery storage project through the first JV is currently under construction in Fife, Scotland. NextEnergy expects it to be grid-connected in the first half of 2023.
Current stock price: 119.36 pence, up 0.6%
12-month change: up 21%
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