The UK railways pension scheme Railpen and the Alberta Investment Management Corporation (AIMCo) have a bought grid-scale battery energy storage platform in the UK from investment firm Constantine.
Railpen and AIMCo have jointly acquired a 94% stake in Constantine Energy Storage (CES) with a plan to invest more than £400m (€392m) to build out a pipeline of battery energy storage projects currently under development by Pelagic Energy Developments, Constantine’s subsidiary.
IPE Real Assets understands that Railpen’s will own a 47% stake in CES and will invest £133m.
“The acquisition of CES is an ideal fit for our growing global portfolio of high-quality infrastructure assets,” said Ben Hawkins, the head of infrastructure, renewables and sustainable investing at AIMCo.
Lewis Vanstone, an investment Director at Railpen, said: “We are delighted to acquire a significant…
Railpen, AIMCo to pump $400m into UK battery energy storage projects | News
