(MENAFN- PR Newswire)
LONDON, Oct. 29, 2024 /PRNewswire/ -- Castleton commodities International LLC (CCI) announced today that its subsidiary, S4 energy BV, has acquired LC Energy's battery storage platform (LCEGS), a Netherlands-based company specializing in the development of grid-scale high-voltage battery energy storage systems.
The Acquisition combines LCEGS' proven development track record with S4 Energy's sector expertise.
S4 Energy is currently constructing four, 4-hour medium voltage projects in the Netherlands, all scheduled to become operational in 2025. With its existing assets and planned buildout, S4 Energy is poised to become the leading owner and operator of battery energy storage systems projects in Europe, with a cumulative pipeline of c.7.5GW. That includes a fully permitted 2GWh battery energy storage system in Groningen, the biggest such project in the Netherlands.
Battery energy storage systems are essential for advancing decarbonization efforts across Europe and vital for the safe and reliable operation of power grids. As reliance on intermittent renewable energy sources grows, along with increased power demand from electrification, data centres and cloud computing, batteries will play a pivotal role in supporting the grid. S4 Energy aims to establish itself as a large-scale independent flexibility provider within the next three years, primarily focusing on the Netherlands, Germany and adjacent markets.
"This investment marks a transformative step for our platform, S4 Energy,
and brings us closer to our
objective of establishing
a fully integrated, pan-European battery energy storage system platform. This transaction underscores our commitment to that vision and highlights the crucial role energy storage will play in facilitating decarbonization,"
said Mohit Singh, principal in CCI's European Principal Investments team.
About Castleton Commodities International LLC
CCI is a global energy commodity merchant with integrated businesses focused on marketing, merchandising and trading commodities, and the ownership, operation and development of commodities-related infrastructure assets. Please visit our website for more information: .
About S4 Energy
S4 Energy develops, builds, owns and operates grid-scale battery energy storage systems. We help energy producers, grid operators and end users to stabilize supply and demand and make the most of the existing infrastructure. Our mission is to make energy grid more resilient and flexible. Please visit our website for more information: .
Media contact
Hannah Curnutt
Burson
713-752-1913
[email protected]
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