NEWS

P3P’s BESS Project Acquired by Shinhan and Solos Power Consortium

P3P Partners is thrilled to announce the successful handover of a substantial 70MW/163MWh battery energy storage system (BESS) project to a distinguished South Korean-UK consortium, comprising Shinhan Asset Management and Solos Power.

Located at Widow Hill, Burnley, this ready-to-build (RTB) BESS project began construction in early 2024 with energisation anticipated in the second half of 2025. The project will help UK’s energy transition to net zero, ensuring enhanced energy security and supply on the southern National Grid loop.

“We are extremely pleased to reach this critical milestone in one of our flagship early-connection date battery storage projects. Shinhan and their UK-based partner Solos Power, have been reliable and collaborative partners in bringing this transaction to a successful completion; we look forward to the opportunity of working with them again in the future.”

Shinhan Asset Management is one of the largest asset managers in Korea, while Solos Power identified the acquisition and manages project coordination and delivery of the battery storage asset. With this acquisition, the consortium is poised to increase its BESS fleet in the UK to 335MW in 2024, demonstrating a strong commitment to the clean energy transition not only in the UK but globally.

“Together with the Korean consortium and Solos Power, we hope to provide support to National Grid’s vision of building a clean, fair and affordable energy future with BESS. Energy storage systems are a critical component of the clean energy transition in UK and around the world. We believe that the Widow Hill BESS project will pave the way to continued collaboration between UK and Korea in providing essential energy infrastructure.”

This endeavour not only exemplifies P3P’s commitment to driving forward the UK’s energy transition but also highlights the valuable international collaborations that are pivotal in achieving a sustainable energy future. P3P is excited to continue playing a key role in these developments, working closely with global partners like Shinhan and Solos Power.

For more information about this project or P3P’s broader initiatives in supporting the UK’s energy transition, please contact Philip Elborne at philip.elborne@p3ppartners.com.