Copenhagen Infrastructure Partners (CIP), on behalf of Copenhagen Infrastructure IV (CI IV), has agreed to divest minority stakes in the Devilla battery storage project to the Scottish National Investment Bank and Nuclear Liabilities Fund (NLF).

Once operational, the project will be among Europe’s largest battery storage facilities, supporting grid stability and the integration of renewable energy generation.

Devilla is a 500 MW, 2-hour-duration, lithium-ion battery energy storage system (BESS) located in Kincardine, Scotland. CIP retains the majority stake and will continue to lead project delivery through the current construction phase. The project has a high level of contracted revenues through a 10-year optimisation agreement with SSE plc, a leading generator of renewables and flexible power in Great Britain and Ireland, alongside a 15-year capacity market agreement, providing visibility and a stable foundation for returns while maintaining exposure to market upside.

Devilla is one of three transmission-connected BESS assets co-developed by Alcemi and CIP that are currently being constructed by CIP in Scotland. Collectively, the projects will have a total power capacity of 1.5 GW and will be able to store and supply the grid with a total of 3 GWh of electricity, enough to supply over 4.5 million households for two hours. CIP is developing a further 4.5 GW of BESS projects across Scotland and England.

Nischal Agarwal, Partner at CIP, commented: “As CIP’s development and construction portfolio of UK BESS projects continues to progress and grow, we look forward to welcoming the Scottish National Investment Bank and NLF as new equity partners on our Devilla site. Once commissioned in 2028, Devilla will be one of Europe’s biggest operational BESS projects. The delivery of Devilla, alongside CIP’s Coalburn 1 and 2 projects, will improve the UK’s energy security and reduce costs for British consumers through enhanced system flexibility and access to more low-cost renewables.”

Robin Tayal, Investment Director at the Scottish National Investment Bank, added: “BESS are a critical part of improving energy security and stability. The Devilla site is strategically located and will support renewable integration, grid stability, and system flexibility. We are pleased to partner with CIP and the wider investor group to support the delivery of this important asset.”

Melissa Hope, CEO of NLF, concluded: “NLF is pleased to partner with CIP and the Scottish National Investment Bank on this battery storage project. This investment aligns with our strategic investment objectives while supporting UK energy security and economic growth.”