Low Carbon brings one of the world’s largest battery storage portfolios to market in historic deal for the company
6 GW Dutch battery storage portfolio underscores UK-headquartered Low Carbon’s track record in the renewables market by delivering critical infrastructure for the energy transition
Global renewable energy company, UK-based Low Carbon, have underlined their position as leaders in the battery storage market through the delivery of a 6 GW portfolio of storage projects in the Netherlands – one of the largest ever investments in vital battery storage capacity in the renewables sector globally.
The storage portfolio is one of the largest being developed internationally and will play a critical role in supporting the Netherlands' climate goals by allowing more renewables to be delivered to the grid.
The deployment of battery storage is essential for advancing global decarbonisation efforts and grid stability as demand for electricity grows along with the increased amounts of energy being generated from renewable sources.
It follows comments from Dutch government climate advisers last week that it will miss its main 2030 climate goal unless it takes more action to reduce greenhouse gas emissions.
The storage assets developed by LC Energy, a joint venture between Low Carbon and QING, have now been acquired by S4 Energy, a specialist Dutch developer and operator of grid-scale energy storage that is majority-owned by global commodity merchant, Castleton Commodities International (CCI).
Low Carbon’s Founder and Chief Executive, Roy Bedlow, said: “This is a huge moment in Europe’s energy transition. Low Carbon were one of the early pioneers in the Dutch renewables market and the delivery of one of the largest utility-scale battery storage portfolios in the market to CCI will act as a critical enabler for the Dutch grid once built.
“The Netherlands is now positioned to prove that we can seize the opportunities of the decarbonisation mission with highly attractive, investible green energy infrastructure. I cannot emphasise enough the scale of this portfolio – at 6 GW it is among the very largest ever brought to market globally.
“This announcement also reinforces the expertise of the Low Carbon team in bringing high-quality assets to market that are attractive for investors, meanwhile playing an important role in supporting our future growth as we scale to become a leading independent power producer. We are on track to deliver 20GW of renewable power that will reduce carbon emissions and deliver tens of thousands of green energy jobs for local communities.”
Mohit Singh, principal in CCI’s European Principal Investments team, added: “This investment marks a transformative step for our platform, S4 Energy, and brings us closer to our objective of establishing a fully integrated, pan-European battery energy storage system platform. This transaction underscores our commitment to that vision and highlights the crucial role energy storage will play in facilitating decarbonization.”
KPMG Deals acted as the exclusive M&A advisor to LC Energy on the sale of the portfolio.
In addition to its market leading position in the Dutch battery storage market, Low Carbon is the UK’s number one developer of UK solar energy and operates in 9 countries in total, including in Ireland where it has provided approximately 20% of the country’s operational storage capacity. The company was founded to make a lasting impact in the fight against climate change, and aims to deliver 20GW of renewable energy, enough to power 7 million homes.
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Harry Padfield
PR and Public Affairs Manager
Harry.padfield@lowcarbon.com