Green Investment Group to launch battery storage platform

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LONDON, Nov 7 (Reuters) - The Green Investment Group (GIG), owned by Macquarie Asset Management, volition motorboat a caller level to make artillery retention capableness crossed the world, it said connected Monday.

The platform, called Eku Energy, volition person 190 megawatt hours of flexible retention capableness nether operation connected completion of the motorboat and a further pipeline of much than 3 gigawatt hours of capableness nether improvement successful Australia, Britain, Japan and Taiwan.

Eku Energy volition initially commencement operations successful Britain and Japan and widen to different countries erstwhile regulatory approvals are completed.

No fiscal details were disclosed.

Increased artillery retention capableness is needed to store excess intermittent renewable vigor produced erstwhile determination is oversupply and past provender it to the grid erstwhile determination is simply a shortage oregon much demand.

By 2030, it is forecast that planetary artillery retention capableness is expected to summation to 411 gigawatts (GW) from 46 GW past year.

The GIG was acquired by Macquarie Asset Management successful 2017 from the UK government. It has a full of 45 GW of cleanable vigor projects nether development.

Reporting by Nina Chestney, editing by Ed Osmond

Our Standards: The Thomson Reuters Trust Principles.

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