Photo: Harmony Energy
Global green energy venture Tag Energy has announced its expansion in the UK following the acquisition of a 60% stake in two 50MW battery storage projects in a joint venture with Harmony Energy. Both projects will be built in the UK and will use Tesla Megapacks and the Autobidder AI platform.
Tag Energy and Harmony Energy's new deal will increase the flow of clean energy from renewable sources in the UK. Peter Kavanagh, CEO of Harmony Energy, said: “We are pleased to announce this deal with Tag Energy which has been under negotiation since January. This is the last stand alone battery transaction outside of the Harmony Energy Income Trust and we very much look forward to working with another highly experienced partner on these two sites.”
The two projects will increase the country's energy storage capacity and add flexibility and stability to the UK's power grid to support the transition to clean energy. The projects will use Tesla Megapack lithium-ion batteries along with Tesla Autobidder AI software for real-time trading and control.
The deal comprises:
Construction on both projects will begin in the first quarter of 2022. Commissioning is scheduled for the first quarter of 2023. The total investment in the projects will amount to about £60 million.
The two new projects represent TagEnergy's third investment in battery storage facilities in the UK using Tesla Megapacks. The company entered the UK market in September 2021 when, together with Tesla, it began construction on the Hawkers Hill Energy Park battery storage facility in Dorset.
Kavanagh adds: “It’s widely recognized that battery storage is critical to achieving Net Zero in the UK and projects of this size—delivered without subsidies—will be vital in providing flexibility to the grid. We are looking forward to working with TagEnergy on these projects.”
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