Macquarie’s Eku acquires a 2 GWh battery storage project portfolio

Macquarie backed battery energy storage developer Eku Energy has acquired renewable energy developer Bluestone Energy’s portfolio of planned battery storage projects in the United Kingdom.

Eku Energy, which is jointly owned by a Macquarie Asset Management managed fund and British Columbia Investment Management Corporation (BCI), says the purchase involves seven planned battery energy storage system (BESS) projects across the United Kingdom, with a combined capacity of 1GW/2GWh.

Among the seven planned BESS projects are the 98MW/196MWh project at Leatherhead in Surrey; a 98MW/196MWh project at Sturts Farm, West Moors in Dorset County; and two 240MW projects – one near the village of Ninfield in East Sussex and another near Rochester in Kent. 

The portfolio acquisition builds on the joint development agreement (JDA) signed between the two companies in 2022 which enables them to jointly identify and progress sites until they are ready to be built, at which point Eku Energy takes the project through to delivery with its construction and operations teams.

“The acquisition of Bluestone Energy’s battery portfolio in the United Kingdom is consistent with our approach in creating utility-scale energy storage projects for the long term,” said Daniel Burrows, CEO of Eku Energy.

“The growth of our project portfolio signifies our optimism and commitment to the United Kingdom’s clean energy market.”

The acquisition also adds seven new battery projects to the three projects already under the auspices of Eku Energy, which include the operational 40MW/40MWh Maldon BESS and two projects currently under construction, including the 28MW/56MWh Basildon BESS and 40MW/55MWh Loudwater BESS.

Eku Energy also owns and operates the 150 MW, 150 MWh Hazelwood battery and the 200 MW, 400 MWh Rangebank battery, both in Victoria, and is building the 250 MW, 500 MWh Williamsdale battery in the ACT. Other projects in its pipeline are the 300 MW, 1,200 MWh Tramway Road and 100 MW, 800 MWh Griffith battery projects.

It also has projects in Japan and Europe.

“Eku Energy’s development portfolio of approximately 50 projects globally enables us to work with our customers to provide innovative risk management products and to secure long term contracted revenue for our BESS portfolio,” added Burrows.