Triodos Investment Management, a global impact investment leader, has collaborated with GridBeyond, an energy solutions provider, in order to move forward with the expansion of battery energy storage systems across the UK and Ireland. The €12.5 million venture started as a 50/50 joint venture in 2022, available for new energy projects supporting the cleaner net-zero energy future.
Exploring the Energy Storage Systems Further
The joint venture will primarily concentrate on installing two battery storage facilities, one with a capacity of 8MWh in Scotland and the other in Ireland. The systems are part of a larger effort to enhance resilience for commercial and industrial customers through cost savings and support for sustainability objectives. One such project is already installed in Ireland, while the Scottish installation is slated for completion by 2025.
Battery energy storage systems are significant in stabilizing the energy grid by storing energy that otherwise would be unused, particularly at peak demand times. The importance is also additional to integrating renewable energy sources, such as wind and solar power, into the energy mix more effectively.
Wider Sustainability Projects
Beside BESS installations, GridBeyond is working on other green energy solutions, including behind-the-meter solar photovoltaic systems and electric vehicle charging stations for businesses. The idea of these projects is to offer a holistic approach to energy management in the interest of saving costs, reducing carbon footprint, and increasing energy independence for companies.
Progress in the UK and Ireland
The partnership has taken great strides already. Triodos and GridBeyond completed their first joint energy storage project in Ireland in 2022. Success with this project has led to more investments and commitments to increase operations in the region. The planned installations in Scotland and Ireland would mean that the organization is contributing to the development of clean energy infrastructure in the region.
Supporting Net-Zero Goals
By integrating battery storage and other renewable energy technologies, Triodos and GridBeyond are helping businesses transition to sustainable energy systems. These projects not only enhance energy reliability but also align with government objectives for achieving net-zero emissions.
Conclusion
This partnership emblematic of the importance of partnership between the public and private sector in bringing transition to renewable energy faster. The initiatives of this company led by Triodos Investment Management together with GridBeyond showcase the benchmarking of sustainable practices for various businesses that can contribute towards broader climate goals.
Source: Triodos