TagEnergy has made its first move into the UK onshore wind market, acquiring four mid-stage development projects in Scotland with a proposed combined capacity of 270MW.
As part of a deal with RES, which already has a significant wind farm footprint with more on the way, TagEnergy has taken 100% ownership of the Cairnmore Hill, Glenburnie, Sclenteuch and Torfichen projects. Despite taking 100% ownership in the projects, TagEnergy will still be leveraging RES for some development services.
The acquisition of the onshore wind farms is significant for TagEnergy in the UK, mostly because the company has thus far focused on energy storage. In fact, the firm owns 320MW of grid-connected battery energy storage systems across six locations. With the addition of these new onshore wind farms, however, the firm can now boast a pipeline of grid-connected projects of more than 1.5GW.
Franck Woitiez, Chief Executive Officer at TagEnergy, noted, “This is a monumental step in TagEnergy’s UK journey as we become a true multi-technology IPP with generation and storage technologies to drive the country’s energy transition on more fronts simultaneously.”
The company says the investment underlines onshore wind’s role in the UK’s clean power plans, including the Government’s aim to double onshore wind capacity by 2030. TagEnergy points to its international experience delivering large-scale wind as relevant to the UK market.
“These wind farm acquisitions are a strategic investment – in technology, location and timing. Onshore wind is critical to delivering the UK’s clean energy future. It is one of the easiest and fastest technologies to build and deploy, and, along with solar, the cheapest form of electricity generation. And there is no better place in the UK for onshore wind than in Scotland,” Woitiez added.
“We look forward to working with all stakeholders, local communities and authorities to realise these vital projects and help meet national targets for emissions reduction through generating cleaner, cheaper, homegrown power faster.”
RES plans to remain involved in the projects bought by TagEnergy during development.
Lucy Whitford, Managing Director for UK & Ireland at RES, commented, “Tag acquired its now operational Lakeside and Roaring Hill BESS projects from RES at development stage, with RES appointed as asset manager. We’re delighted to continue our relationship with TagEnergy and look forward to seeing these four wind farms come to life with our continued support.”
