JLEN Environmental Assets Group completes purchase of 50% stake in 50 MW battery storage project in Buchan

JLEN Environmental Assets Group (JLEN) has completed the acquisition of a 50% equity stake in Clayfords Energy Storage Limited (CESL), the developer of a 50 MW battery energy storage project, from Intelligent Land Investment Group. CESL holds the development rights to construct a lithium-ion battery energy storage system plant in Buchan, Aberdeenshire, UK.

The deal is closed at a total of GBP14.1 million (US$17.28 million) with the investment made in partnership with Foresight Solar Fund Ltd. The commercial operation of the project is expected to start in Q4 2024. 

The plant will be connected to the Scottish Hydro Electric Power Distribution plc's distribution network once commissioned.