Month: June 2018

Susi Energy Storage Fund Hits EUR252m Final Close

The Susi Energy Storage Fund (SESF) has reached final close at EUR252m, having received commitments from institutional investors in Germany, the Netherlands, Austria, Sweden and Switzerland. Susi’s fund, claimed to be the world’s first dedicated energy storage infrastructure fund, aims to bridge the gap between volatile renewable energy supply and […]

Downing Makes New Hire to Raise Funds for Battery & EV Charging Network

Investment manager Downing has hired Shane Swords as its head of institutional fundraising. Swords will be responsible for raising institutional money across a range of sectors. Part of his focus will be on Downing’s recently announced strategic investment for the initial phase of a GBP1.6bn network of grid scale batteries […]

Drax Submits Planning Application for CCGTs, Batteries

Drax Power Station said it submitted an application to the UK’s Planning Inspectorate for a Development Consent Order (DCO) for two combined cycle gas turbines (CCGTs) and two 100MW batteries at its North Yorkshire site on May 30th 2018. The CCGTs would provide up to 3.6GW of gas power and […]

Sembcorp Grows its Business with UK Power Reserve Acquisition, Includes Storage

Singapore’s Sembcorp has acquired flexible distributed energy company UK Power Reserve (UKPR) in a deal announced May 31st 2018. The enterprise value of the transaction was approximately GBP340m, including net debt of around GBP121m. The equity value was GBP216m. Sembcorp said it would fund the deal through a mix of […]