Pulse Clean Energy has completed the acquisition of 72MW of battery assets in Manchester, UK which will come online in 2024. The transaction represents the next step in establishing Pulse’s European, utility-scale storage and stability platform to support the transition to a zero-carbon energy system.
Pulse has already invested in nine diesel generation sites, which are being decommissioned and repurposed as battery storage assets. Its first four sites are due to come online during Q1 2023, with more set to be converted throughout 2023. Pulse has an ambition to build a pipeline of 1GW+ of energy storage assets across multiple markets.
The acquisition follows a number of key appointments for the company, with extensive expertise in development, construction, and operations of flexible generation assets.
Pauline Barker, Investment Director at Pulse Clean Energy Commented: “We are pleased to have completed another successful transaction on our UK BESS pipeline. The sale of the 72MW of battery assets builds on our successful acquisition and conversion of the nine diesel generation sites. We are continuing to expand our development pipeline in order to create a market leading portfolio of battery storage and stability projects both in the UK and internationally.”
Pulse Clean Energy is an investor, developer and holder of flexibility assets backed by IMCO, a Canadian pension fund with over $79 billion under management.
For more information, visit www.pulsecleanenergy.com
ABOUT PULSE CLEAN ENERGY
Pulse Clean Energy’s purpose is to provide the balance and stability needed to ensure renewable energy technologies can thrive. Through innovation in energy storage and optimisation, we enable an energy network that runs entirely carbon free. With a focus that goes beyond energy, to the communities that depend on it, every decision we make is governed by unshakeable ethical and sustainable values.
ABOUT IMCO
The Investment Management Corporation of Ontario (IMCO) manages $79 billion of assets on behalf of its clients. Designed exclusively to drive better investment outcomes for Ontario’s broader public sector, IMCO operates under an independent, not-for-profit, cost recovery structure. It provides leading investment management services, including portfolio construction advice, better access to a diverse range of asset classes and sophisticated risk management capabilities. As one of Canada’s largest institutional investors, we invest around the world and execute large transactions efficiently. Our scale gives clients access to a well-diversified global portfolio, including sought-after private and alternative asset classes. Follow us on LinkedIn and Twitter @imcoinvest.
