The deal involves the Devilla storage facility, set to be one of Europe’s largest, with contracts supporting stable revenues through 2038.
Copenhagen Infrastructure Partners has agreed to sell minority stakes in its 500MW Devilla battery storage project to the Scottish National Investment Bank and the Nuclear Liabilities Fund. The project, under construction in Kincardine, Scotland, is expected to be operational by 2028 and will use lithium-ion technology for two hours of energy storage.
Devilla is backed by a ten-year optimisation agreement with SSE and a 15-year capacity market contract, ensuring revenue stability while allowing participation in market price fluctuations. The project is part of a broader initiative by CIP and Alcemi to develop three battery storage sites in Scotland, totaling 1.5GW of capacity and 3GWh of storage.
CIP will retain majority ownership and continue managing the project through construction. The combined capacity of the three sites is estimated to power over 4.5 million homes for two hours.