Council invests in battery storage project
0South Somerset District Council is seeking a net return of 7.5% from an investment in a new battery storage facility. The project will store excess energy production at low usage periods in the district to be sold to the National Grid.
The council will co-own the facility with Opium Power, which will also act as project manager.
Henry Hobhouse, South Somerset District Council’s portfolio holder for property and income generation, said: “Here’s a superb example of where our commercial strategy can take us — working with key partners to invest in green technology that will be of lasting national benefit.”
The investment, carried out in line with South Somerset’s commercial strategy is set to provide a minimum return on investment after repayment and interest of 7.5%.
