Macquarie’s Green Investment Group (GIG) has partnered with Bluestone Energy to develop up to 2GW of UK battery storage projects.

The two firms have entered into a joint development agreement and already have 970MW of projects in early-stage development.

Bluestone is a renewable energy developer focused on decarbonisation and sustainability. It has a track record of developing utility-scale solar, wind and battery storage projects for a range of players in the industry.

GIG is a specialist green investor within Macquarie Asset Management. In June last year, GIG bought its first UK utility-scale battery storage portfolio of projects from developer Capbal. At the time, GIG said it intended to grow the portfolio through the acquisition and development of additional projects.

In December 2021, GIG also announced plans to deliver Australia’s largest privately-funded and fully committed battery storage project in partnership with Engie and Fluence.

Greg Callman, global head of GIG’s energy technology business, said: “GIG’s partnership with Bluestone Energy is an exciting step for us in the market, and we look forward to generating even more opportunities to accelerate the deployment of this critical technology. Bluestone’s considerable expertise and GIG’s global experience make for a strong partnership that can drive forward the UK’s storage industry.

“Energy storage clearly plays a critical role in the energy transition. This partnership leverages our mutual experience and expands Macquarie’s global portfolio in this important sector.”

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