May 13 2022
TagEnergy signs two energy storage asset management agreements with RES
Leading clean energy enterprise TagEnergy has recently signed two new asset management agreements with RES, a world leader in energy storage, for Chapel Farm and Hawkers Hill. RES’s Asset Management team will oversee operations at both energy storage projects and support TagEnergy to deliver flexible, low-cost electricity for consumers.
Chapel Farm in Luton, Bedfordshire, has a capacity of 49.5MW, whilst Hawkers Hill Energy Park near Shaftesbury in Dorset boasts an energy capacity of 20MW. Tesla technology is being used at Hawkers Hill – a first in the UK for RES – and both projects are currently under construction. RES is also providing construction phase financial management services, and once the projects have been handed over, it will deliver ongoing technical and financial asset management services.
TagEnergy has been working with RES since 2021 when they originally collaborated on the sale of Roaring Hill in Fife and more recently Lakeside, North Yorkshire. Both battery storage projects were developed by RES.
Franck Woitiez, CEO at TagEnergy, said: “We are pleased to be working with RES once again on these latest projects as its experience in developing and managing energy storage systems is world-class.”
“From previous experience, and the relationship we have built with the RES team, we are confident Chapel Farm and Hawkers Hill will support the transition to a more sustainable future by using our combined expertise to drive the flow of clean energy from renewable sources.”
Darren Cook, Asset Management Director at RES, said: “We’re delighted to partner with TagEnergy on Chapel Farm and Hawkers Hill to help play a pivotal role in increasing access to low cost, green electricity.”
“These agreements are a sign that RES’s asset management team continue to go from strength to strength. We’ll deliver a very high-quality service at both projects and look forward to becoming a trusted asset management partner for TagEnergy going forwards.”
Battery energy storage is a key technology providing flexibility to the network and supporting the decarbonisation of the UK’s electricity system by 2035. RES is a world leader in energy storage projects and has a pipeline of 700MW of projects in development in the UK and Ireland. The grid stability provided by energy storage systems ultimately supports the development of renewable energy, helping to facilitate the energy transition.
TagEnergy is a clean energy enterprise for a new cycle in the renewable energy industry. It was formed in 2019 to accelerate the energy transition by developing and investing in competitive and clean power stations in order to compete directly and actively on the energy markets.TagEnergy’s 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’s three-pronged integrated approach comprises:
- Creating opportunities for the development, construction and management of competitive projects involving large-scale renewable energy generation or storage infrastructure.
- Producing competitive energy through its clean power stations.
- Managing the commercialisation of that energy to optimise value.
TagEnergy has developed a portfolio of more than 2.7GW of Storage, Solar and Wind projects in the UK, Australia, Spain, Portugal and France, and intends to drive the pace of transition through projects that deliver reliable energy affordably, and at scale. For more information about TagEnergy visit www.tag-en.com
RES is the world’s largest independent renewable energy company active in onshore and offshore wind, solar, energy storage and transmission and distribution. At the forefront of the industry for over 40 years, RES has delivered more than 22GW of renewable energy projects across the globe and supports an operational asset portfolio exceeding 9GW worldwide for a large client base. Understanding the unique needs of corporate clients, RES has secured over 1.5GW of corporate power purchase agreements (PPAs) enabling access to energy at the lowest cost. RES employs over 2,000 people and is active in 11 countries. For further information about RES, visit www.res-group.com