Econergy Renewable Energy has acquired a 100% share from Yoo Energy for the 50MW Swangate energy storage project in England.
The site, located in Yorkshire, has already received the necessary permits for development, including approval for grid connection.
Construction work is due to begin in the first quarter of 2022 while a commercial operations date is expected to be early next year.
Econergy said that Swangate will be part of a wider pipeline of projects consisting of more than 800MW of storage and 900MW of solar PV and expects its total portfolio of UK developments to be operational by 2025.
The developer added that it is building these UK storage projects in two configurations, as co-location projects together with the solar pipeline and as stand-alone grid-support storage projects.
Renew Legal acted as legal advisors on behalf of Econergy for the acquisition.
Econergy chief executive officer Eyal Podhorzer said: “We are delighted to have acquired this landmark storage project from Yoo Energy.
“The UK is a key market for Econergy and is leading the development of storage technology, which has a key role to play in reducing our reliance on fossil fuels and enabling the clean energy transition.
“This project will help us to become a key player in the UK storage market as we look to significantly expand our portfolio of projects under development in the coming months.”