Alberta Investment Management and Railpen acquire 94% stake in energy storage platform

Institutional investors Alberta Investment Management Corporation (AIMCo) and Railpen have jointly acquired a 94% stake in an energy storage platform. The platform, Constantine Energy Storage (CES) is a grid-scale battery energy storage platform that is expected to invest over £400m in energy storage projects across the UK. Lewis Vanstone, investment director at Railpen, said: “We are delighted to acquire a significant stake in CES, as part of our commitment to investing in innovative assets that grow our members’ capital over the long term. This acquisition marks Railpen’s first direct investment into battery storage and reflects our ambition to drive positive change through our portfolio, working with management to develop the critical infrastructure needed to support the UK’s transition to net-zero.” Energy storage deployment is a critical component of transitions. According to the International Energy Agency, a net-zero 2050 scenario would depend on an ambitious 35-fold increase in battery storage capacity by 2030.