The UK railways pension scheme Railpen and the Alberta Investment Management Corporation (AIMCo) have a bought grid-scale battery energy storage platform in the UK from investment firm Constantine.
Railpen and AIMCo have jointly acquired a 94% stake in Constantine Energy Storage (CES) with a plan to invest more than 拢400m (鈧�392m) to build out a pipeline of battery energy storage projects currently under development by Pelagic Energy Developments, Constantine鈥檚 subsidiary.
91传媒在线 understands that Railpen鈥檚 will own a 47% stake in CES and will invest 拢133m.
鈥淭he acquisition of CES is an ideal fit for our growing global portfolio of high-quality infrastructure assets,鈥� said Ben Hawkins, the head of infrastructure, renewables and sustainable investing at AIMCo.
Lewis Vanstone, an investment Director at Railpen, said: 鈥淲e are delighted to acquire a significant stake in CES, as part of our commitment to investing in innovative assets that grow our members鈥� capital over the long term.
鈥淭his acquisition marks Railpen鈥檚 first direct investment into battery storage and reflects our ambition to drive positive change through our portfolio, working with management to develop the critical infrastructure needed to support the UK鈥檚 transition to net zero.鈥�
Graham Peck, investment director at Constantine said: 鈥淭hrough our subsidiary Pelagic Energy, CES has a robust project pipeline of large and well-located battery projects, which are deliverable in the near term, and thus provide a secure pipeline of best-in-class assets.鈥�
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