Downing LLP finalised funding of 50MW battery storage project


Investment management firm, Downing LLP has finalised the selection of its co-funding partner and entered into agreements for the supply of the battery storage solution, the balance of plant and the route to market and trading arrangements for its transmission system connected 50MW/53MWh battery storage project. The deal represents Downing’s first front-of-the-meter battery asset and is one of the largest in the UK.  Grid connection works are already largely complete, and the project is expected to connect to the grid and begin operations in August 2021.

This project is Downing’s second investment in the sector, following the installation of a 3MW battery storage system at Arsenal Football Club’s stadium, and marks the first step in a wider initiative to build a portfolio of energy storage assets.

The project connects directly to National Grid’s transmission system and the ambition for the second phase of the project is to develop a private wire network and a utility scale electric vehicle charging super hub in Nursling, Southampton.

Talking about the project, Sean Moore, investment director at Downing commented, “Battery storage solutions are increasingly important as a renewable energy enabling technology in our ongoing mission to combat climate change. We are proud and excited to be spearheading this exciting deal with a cohort of industry leading suppliers and investors. We look forward to continuing our work with each stakeholder to bring the asset in operation later this year.”

Hyosung Heavy Industries corporation was selected as the Battery Energy Storage Solution provider following a competitive process. The project marks the South Korean supplier’s first transmission-connected battery project in the UK, following deployment of 1.8 GWh globally. Arun Construction Services, based in the UK,has managed the construction of the site since inception and will be responsible for the final installation of the asset.

The bankability of the project has been improved through the involvement of leading energy and asset optimisation provider, EDF. Following an extensive tendering process, EDF was selected as the project’s route-to-market and trading partner for its industry leading market knowledge and trading capability. The project will enter into a seven-year contract providing access to a revenue floor.

Adam Clarke, Senior Manager PPA and Flexibility Solutions at EDF, said: “We are excited to be working together on their first 50MW battery storage project which will see EDF provide access to all National Grid schemes, including Dynamic Containment, as well as fully supported trading and optimisation services in wholesale energy markets. As the balance between ancillary services and wholesale trading becomes more complex, our asset optimisation capability is vital to maximising revenues and protecting investment for our customers. We look forward to future opportunities to extend this collaboration and further reinforce our commitment to help Britain achieve Net Zero.


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