Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Add shares to your
quickpicks to
display them here!

JLEN encouraged as first battery storage investment begins operations

1st Jun 2023 08:13

(Alliance News) - JLEN Environmental Assets Group Ltd on Thursday celebrated launching its first grid-scale battery project, as commercial operations start at West Gourdie.

The environmental infrastructure-focused investment firm told investors that operations have begun at the 50 megawatt lithium-ion site in Dundee, Scotland.

JLEN said West Gourdie's launch will help to balance out the electricity grid network in the region, "reducing system imbalance" and volatility.

West Gourdie was built by EPC Contractor Anesco Ltd, with management oversight from the Foresight Group construction team.

It will be operated by Flexitricity; Green Nation will provide asset management services, while Anesco will supply operations and maintenance services.

JLEN Investment Manager Chris Tanner welcomed the news from West Gourdie.

He said: "Seeing JLEN's first battery storage investment become operational is a significant milestone for the company. Battery energy storage projects play a vital role in advancing the decarbonisation agenda by reducing system imbalance, enhancing the grid's ability to harness a greater level of intermittent renewables.... [we] look forward to advancing our other battery storage assets to commercial operations."

JLEN Environmental shares were trading 0.7% lower at 117.00 pence each in London on Thursday morning.

By Holly Beveridge, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

FTSE 100 Latest