United Kingdom – Penso Power, the creator and developer of Europe’s largest operating battery storage scheme, the 100MW Minety project in Wiltshire, has formed a partnership with BW Group.
To fund Penso Power’s pipeline of large-scale battery storage projects, including those up to 350MW in connection capacity in the UK over the next 3-5 years, BW has agreed to provide funds.
Penso Power and BW Group will become joint owners of the battery project as a result of the deal. Additionally, BW Group will contribute directly to Penso Power, with Erik Strms, the Managing Director of BW Renewables and a member of the BW Group’s Executive Committee, joining the Penso Power board of directors.
CMS Cameron McKenna Nabarro Olswang advised Penso Power. Bird & Bird, a law company, advised BW Group.
