redT energy plc has announced that it has received a conditional commitment letter from an energy infrastructure fund to invest, together with its partners, approximately EUR37 million (US$42 million) for 100% financing of the first project to be deployed of a total 700 MWh portfolio of grid-scale energy storage projects in Germany.
This first project will use 800 redT units with a combined capacity of approximately 60 MWh to supply Secondary Control Reserve and other grid services to the German and Austrian market.
This conditional commitment has been provided by the fund following a detailed review of the project data room documentation. All parties are committed to moving forward rapidly with this opportunity with financial close targeted by 31 December 2018.
Country updates
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September 14, 2018
Encavis AG announces acquisition of solar and wind capacity in Germany and Denmark
Encavis AG has announced the acquisition of a solar park in Germany as well as five wind turbines in Denmark with a total generation capacity of 23.1 MW. The sale of the plant was...
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September 14, 2018
25 MWh German battery storage commences operation
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September 14, 2018
Final turbine installed in 396 MW Merkur offshore wind project
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September 12, 2018
CEE Group completes acquisition of a wind project in Aßlar, Hesse from Max Bögl Foundation
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September 11, 2018
Engie's engineering unit Tractebel acquires German offshore engineering firm
Tractebel announces the acquisition of Overdick, through its subsidiary Lahmeyer International. Overdick is a company specialised in offshore engineering, based in Hamburg, Germany. This acquisi...
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