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JLEN invests in Wilts battery storage scheme


Environmental infrastructure fund JLEN has acquired a 50 per cent equity stake in Sandridge Battery Storage, which holds the development rights to construct the Sandridge Battery Storage project in Melksham.The facility will comprise a 50MW lithium-ion battery energy storage plant.JLEN will plough up to £12.7m into the operation over the next 12 to 18 months. The investment was made alongside Foresight Solar Fund.The Sandridge Battery Storage project is expected to reach energisation and start commercial operations in October 2022.Winterflood Investment Trusts, Praxis Fund Services and SEC Newgate advised on the deal.