Copenhagen Infrastructure Partners (CIP) has, through its flagship fund CI IV, taken Financial Investment Decision (FID) and issued Notice to Proceed (NTP) to commence construction of two further Battery Energy Storage System (BESS) projects in Scotland.
Coalburn 2 is situated in South Lanarkshire, adjacent to CIP’s existing Coalburn 1 BESS project, and Devilla is situated in Fife, near the town of Kincardine. Each project is sized at 500MW and, once commissioned, will be the largest battery storage projects in Europe.
These two projects represent an investment of approximately £800 million. They expand CIP’s UK BESS construction portfolio from one to three projects and make CIP the largest battery storage investor in the United Kingdom.
The CIP BESS portfolio (Coalburn 1, Coalburn 2, and Devilla) will have total power capacity of 1.5GW and will be able to store and supply the grid with a total of 3GWh of electricity, equivalent to the electricity demand of over 4.5 million households, across a 2-hour period.
To mark the commencement of construction for the Coalburn 2 project, CIP welcomed Scotland’s First Minister John Swinney and Gillian Martin, Scotland’s Cabinet Secretary for Net Zero and Energy, to the Coalburn site for a tour of ongoing construction works and to discuss CIP’s future energy infrastructure investment plans for Scotland and the UK.
Nischal Agarwal, partner at CIP, said: “CIP’s latest investments in Scottish battery energy storage will support the UK’s pursuit of a clean power system by 2030 and delivering a net zero carbon economy by 2050. Battery storage, which is well located, like our Coalburn and Devilla projects, enhances energy security, provides the grid with much needed flexibility and enables low cost renewables to be deployed faster. CIP is fully committed to a vibrant Scottish renewable sector, and we are thrilled to welcome the First Minister John Swinney, and Cabinet Secretary Gillian Martin, to our Coalburn sites to mark our recent investment decisions and start of construction of Coalburn 2.”
Scotland’s First Minister John Swinney said: “The construction of the two largest battery systems in Europe, in South Lanarkshire and Fife, delivered by international investment, is to be welcomed as a significant contribution to the growth of Scotland’s energy transition infrastructure. By helping to supply reliable and secure power to our homes and businesses, well-located storage systems, such as batteries and pumped hydro storage, can move us closer to net zero and directly support the communities around them. Scotland is open for business when it comes to new investments in the technologies and systems that will play a role in our just energy transition.”
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