JLEN acquires 50% stakes in Sandridge Battery Storage Ltd.
JLEN Environmental Assets Group Ltd has closed the acquisition of a 50% equity stake in Sandridge Battery Storage Ltd.
Sandridge Battery Storage Ltd. (SBSL) is the developer and constructor of the Sandridge Battery Storage project, a 50-megawatt lithium-ion battery energy storage plant based in Melksham in Wiltshire, UK.
JLEN, the investment company focused on environmental infrastructure projects will invest up to GBP12.7 million (US$17.64 million) over the next 12 to 18 months. The battery storage plant is expected to start commercial operations in October next year.
The investment had been made alongside Foresight Solar Fund Ltd.
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