Centrica Acquires Belgian Battery Storage Project to Expand Green Energy Investments

Centrica Acquires Belgian Battery Storage Project to Expand Green Energy Investments

(IN BRIEF) Centrica has acquired the Terhills battery storage project, an 18 MW facility in Belgium, from venture capital firm LRM as part of its strategy to boost green energy investments. The site, operational since 2018, has been optimised by Centrica for six years to support the European transmission grid and promote renewable energy. The acquisition enhances Centrica’s virtual power plant in Belgium, which integrates battery storage with flexible industrial loads. Centrica’s CEO, Chris O’Shea, emphasized the company’s commitment to supporting solar and wind power in the region, while LRM’s CEO, Tom Vanham, highlighted the project’s contribution to local prosperity.

(PRESS RELEASE) WINDSOR, 28-Nov-2024 — /EuropaWire/ — Centrica has finalized the acquisition of the Terhills battery storage project, an 18 MW facility in Belgium, from sustainable venture capital firm LRM. Located on the Dutch-Belgian border in Lanklaar/Dilsen-Stokkem, the battery park has been operational since 2018. For the past six years, Centrica has optimised the facility to provide flexibility services to the European transmission grid while generating strong returns for LRM.

This acquisition forms part of Centrica’s strategy to significantly increase investments in sustainable energy solutions, driving a greener and more equitable future. The company is among Europe’s leaders in flexibility services, operating a virtual power plant in Belgium that integrates the Terhills battery with flexible load and generation capabilities from industrial clients.

Chris O’Shea, Group CEO of Centrica, expressed confidence in the Belgian market and praised the local team’s expertise in demand-side response and grid optimisation. He stated, “We’ll continue to maximise the output of the batteries, helping to provide back-up to the renewables grid and encouraging the growth of solar and wind power in Belgium.”

LRM’s CEO, Tom Vanham, highlighted the success of the collaboration, saying, “The sale allows us to continue supporting projects that promote the prosperity and well-being of Limburg and Flanders while entrusting Terhills to a capable partner.”

Centrica’s real-time optimisation capabilities will ensure that the Terhills battery continues to support cost-effective energy storage, enhance the use of green electricity, and provide a stable return on investment. This acquisition underscores Centrica’s commitment to bolstering renewable energy infrastructure and advancing the energy transition in Europe.

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SOURCE: Centrica plc