AIP Management to acquire a 49% stake in a battery energy storage system portfolio from BW ESS for £650m.

AIP Management, an investment manager, agreed to acquire a 49% stake in a battery energy storage system portfolio from BW ESS, an energy storage owner-operator for £650m. “This investment reflects our conviction in the UK energy storage market and builds on the knowledge we have developed through our existing investments in co-located BESS. We are very pleased to form this partnership with BW ESS, which brings highly complementary industrial expertise and operational capabilities to our investment approach. Together we will deliver long-term value while enabling the deployment of critical flexibility in the UK power system,” Greg Falzon, AIP Management Partner and Co-Head of Investments.