Eku Energy acquires 2 GWh UK BESS pipeline

Eku Energy has acquired a 1 GW/2 GWh battery energy storage (BESS) portfolio in the United Kingdom, comprising seven BESS projects in development. The transaction with developer Bluestone Energy is targeted for completion in the first half of 2025. No fee has been disclosed for the deal.

Eku Energy develops, builds and manages BESS projects in the United Kingdom, Australia, Italy and Japan. The developer’s operational portfolio includes the 40 MW/ 40 MWh Maldon BESS in Essex, United Kingdom, which went into full commercial operation in fall 2024. Eku Energy also operates two utility-scale BESS assets in Victoria, Australia: the 150 MW/150 MWh Hazelwood BESS and 200 MW/400 MWh Rangebank BESS.

Assets covered by the Bluestone deal include a 98 MW/196 MWh at Leatherhead, Surrey, a 98 MW/196 MWh at Sturts Farm, Dorset, as well as two BESS assets with power ratings of 240 MW in southeast England.

Eku Energy BESS projects under construction include two UK sites with combined capacity of 111 MWh, a 30 MW/120 MWh project in Japan, and the 250 MW/500 MWh Williamsdale BESS in Australia’s Capital Territory. Bluestone Energy has a project pipeline exceeding 18 GW comprising solar and BESS projects in various stages of development, according to the company’s website.

In a press release, Eku Energy CEO Daniel Burrows described the acquisition of Bluestone Energy’s portfolio as “consistent with our approach in creating utility-scale energy projects for the long term.”

Freddy White, Bluestone Energy CEO, said the sale “validates our commitment to developing high-quality energy storage assets.” He added that Bluestone Energy “will continue to bring many more high-quality projects to the market that are successfully energized.”

The acquisition comes almost three years after Eku Energy part-owner Macquarie Asset Management (MAM) entered a joint development agreement (JDA) with Bluestone Energy via MAM’s Green Investment Group. The JDA included a commitment to develop up to 2 GW of UK battery storage projects. Eku Energy was launched by Green Investment Group in November 2022 as a “global battery storage platform.” The developer is jointly owned by MAM Green Investments and British Columbia Investment Management Corporation.