Eku Energy acquires Bluestone Energy’s Battery Energy Storage Systems portfolio
Global energy storage specialist Eku Energy today announced that it acquired renewable energy developer Bluestone Energy’s portfolio of energy storage projects in the United Kingdom.
Eku Energy acquired a total of seven planned Battery Energy Storage Systems (BESS) projects across the United Kingdom with a combined capacity of 1GW / 2GWh. Amongst others, these include a 98MW / 196MWh project at Leatherhead in Surrey, a 98MW / 196MWh project at Sturts Farm, West Moors in Dorset and two 240MW projects – one near the village of Ninfield in East Sussex and another near Rochester in Kent. The transaction is targeted to be completed in the first half of 2025.
Bluestone Energy and Eku Energy established a Joint Development Agreement (JDA) in 2022. This agreement has allowed the companies to jointly identify and progress sites until they are ready to be built with Eku Energy taking the projects through to delivery with its construction and operations teams.
Commenting on the acquisition of Bluestone Energy’s BESS portfolio, Eku Energy CEO Daniel Burrows said,
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. The growth of our project portfolio signifies our optimism and commitment to the United Kingdom's clean energy market.
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. Acquiring the Bluestone portfolio provides Eku Energy with additional flexibility to offer firm commitments to our customers faster and this is consistent with our mission to accelerate the energy transition by delivering safe, secure and reliable energy storage assets that provide cost-effective clean energy.”
Burrows concluded,
Eku Energy looks forward to working with our local communities and stakeholders as we accelerate the energy transition and move ahead in the development cycle here in the United Kingdom.
Freddy White, Bluestone Energy CEO adds,
This sale represents a significant achievement for Bluestone Energy and validates our commitment to developing high-quality energy storage assets. We are proud to have contributed to the growth of the energy storage market and are confident that Bluestone Energy will continue to bring many more high-quality projects to the market that are successfully energised.
Eku Energy has three existing projects in the United Kingdom with the 40MW / 40MWh Maldon BESS in operation, and the 28MW / 56MWh Basildon BESS and 40MW / 55MWh Loudwater BESS which are under construction.