The Banks Group has recently transferred ownership of its 2.9GWh South Yorkshire BESS project to West Burton Energy.
This initiative involves storing excess renewable energy for times when there is a shortage of renewables in the national grid, such as during calm or cloudy periods.
The project was initially conceived by Banks Group for the redevelopment of a portion of the former Thorpe Marsh power station site near Doncaster.
After seeking input from the local community and businesses and submitting a planning application to Doncaster Metropolitan Borough Council earlier this year, Banks Group has decided to sell the project to the independent power producer West Burton Energy.
West Burton Energy, which already manages the West Burton power station and a battery energy storage system in Nottinghamshire, will now oversee the project’s planning, construction, and operation phases.
Richard Dunkley, The Banks Group’s Managing director, said “We are proud to have identified and proposed a project that could deliver one of the world’s largest battery storage plants providing an invaluable use for part of the derelict former power station.”
“Thorpe Marsh will utilise the site’s large scale grid capacity to facilitate the increased deployment of renewable energy technologies on the National Grid network, so that more of the energy that we all use in our homes, businesses, schools and hospitals can be generated via our own renewable means and less from unreliable overseas sources.
“The response we’ve had from local people, businesses and community leaders over the last year to our ideas was very encouraging and we look forward to seeing West Burton Energy bringing this nationally significant scheme to fruition.”
“West Burton Energy’s local knowledge, significant experience in the energy generation and storage sector and access to the capital required to take this nationally-significant project forward makes them the ideal owner.”
Morris Van Looy, Chief growth and strategy officer at West Burton Energy, added “Richard and the Banks team have done an excellent job identifying and progressing the Thorpe Marsh energy storage project, which is a real world leader in its ambition.”
“West Burton Energy is delighted to take over ownership and looks forward to delivering this much needed project to ensure security of supply, maximise the use of renewable energy, and to re-use this former power station site.”
Rothschild & Co, specializing in corporate finance and M&A, and Ashurst, providing legal counsel, provided guidance to The Banks Group throughout the transaction. Burness Paull offered legal advice to West Burton Energy.
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