en.Wedoany.com Reported - Copenhagen Infrastructure Partners (CIP, on behalf of Copenhagen Infrastructure IV CI IV) has signed an agreement to sell a minority stake in the Devilla battery storage project in Scotland to the Scottish National Investment Bank and the Nuclear Liability Fund (NLF). Once operational, the project will become one of Europe's largest battery storage facilities, supporting grid stability and the integration of renewable energy generation.
The Devilla project is a 500 MW, 2-hour duration lithium-ion battery energy storage system (BESS) located in Kincardine, Scotland. CIP retains a majority stake and will lead project delivery during the current construction phase. The project benefits from a high level of contracted revenue through a 10-year optimization agreement with SSE plc, a leading renewable energy and flexible power generator in the UK and Ireland, as well as a 15-year capacity market agreement, providing visibility and a stable foundation for returns while maintaining exposure to market upside.
Devilla, co-developed by Alcemi and CIP and currently under construction by CIP in Scotland, is one of three transmission-connected BESS assets. These projects have a total installed capacity of 1.5 GW and can store and supply a combined 3 GWh of electricity to the grid, enough to power over 4.5 million homes for two hours. CIP is also developing an additional 4.5 GW of BESS projects in Scotland and England.
CIP Partner Nischal Agarwal stated that as CIP's UK BESS development and construction portfolio continues to advance and grow, they look forward to welcoming the Scottish National Investment Bank and NLF as new equity partners in the Devilla project. Once commissioned in 2028, Devilla will be one of the largest operational BESS projects in Europe, alongside CIP's Coalburn 1 and 2 projects, improving UK energy security and reducing costs for UK consumers by enhancing system flexibility and enabling greater access to low-cost renewable energy.
Robin Tayal, Investment Director at the Scottish National Investment Bank, added that BESS is a key part of improving energy security and stability. The Devilla project is strategically located and will support renewable energy integration, grid stability, and system flexibility. Melissa Hope, CEO of NLF, concluded that the investment aligns with NLF's strategic investment objectives while supporting UK energy security and economic growth.
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