Oct 11 2022
50MW Battery Storage Acquisition – ILI Group and TagEnergy announce the completion of a 50MW Battery storage project transaction
TagEnergy has acquired the 50MW Battery Storage project ‘Pitkevy’ from ILI Group. This project is located in Scotland and will connect to the grid in 2024.
ILI Group are developing over 4GW of energy storage projects in the UK, with a project pipeline comprising 2.5GW of Pumped Storage Hydro and 1.9GW of Battery Storage.
TagEnergy entered the rapidly expanding UK renewables market in 2021 and has now 20MW/40MWh under operation, 50MW/100MWh under construction and over 250MW/500MWh of ready to be built projects, along with a pipeline of projects under development.
Mark Wilson CEO of ILI Group said, “We are delighted to announce the sale of our 50MW project ‘Pitkevy’ and would like to thank TagEnergy for their commitment during the process.”
“This is the 7th Battery storage project we have taken to market, bringing the total to 350MW we have successively funded.”
“A further 400MW of battery projects are being prepared for market this year.”
“Energy storage projects such as Pitkevy are crucial for achieving Net-Zero by helping balance the electricity network as we transition from fossil fuels to renewable energy.”
Franck Woitiez, CEO of TagEnergy said, “We are very pleased to proceed with this acquisition, and look forward to doing further business with ILI after this fruitful collaboration.
“TagEnergy is building a strong network of partners in the UK after the agreements with RES and Harmony, and now ILI Group. TagEnergy is pursuing its strong involvement in the UK market, to connect more sustainable, competitive and clean power to the national grid and accelerate the energy transition.”
About ILI Group
Intelligent Land Investments Group (ILI) are a clean energy development company focused on energy storage in Great Britain, and especially Scotland. ILI has been developing a unique portfolio pumped storage assets of over 2.5GW and 1.9GW of utility scale Battery Storage to ‘development ready’ status. This pipeline of projects will
save over 300 million tonnes of CO2e in their lifetime, create thousands of new green jobs and inject billions into the UK economy.
About Tag Energy
TagEnergy is a clean energy enterprise for a new era in the renewable energy industry. It was formed in 2019 to accelerate the energy transition through creating competitive and clean power stations. TagEnergy is part of the Impala SAS Group, also supported by major investors Mirova and Omnes and operated by a team of managers-shareholders. Its operations span the renewables value chain, from development, financing, construction and asset management of wind, solar and storage projects, to commercialisation of its competitive energy. TagEnergy has developed a portfolio of more than 3GW in the UK, Portugal, Spain, France and Australia, based on solar, wind and battery storage technologies.