Finance
CIP sells 50% stake in Scottish battery storage system to AXA
Published by Global Banking & Finance Review®
Posted on April 28, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 28, 2025
1 min readLast updated: January 24, 2026
CIP sells a 50% stake in its Scottish battery storage system to AXA, continuing to oversee the Coalburn 1 project, Europe's largest of its kind.
COPENHAGEN (Reuters) -Clean energy fund manager Copenhagen Infrastructure Partners (CIP) said on Monday it had agreed to divest a 50% stake in a battery energy storage system in southern Scotland to French insurer AXA's alternative investment arm.
CIP will continue to oversee the Coalburn 1 project, a 500 megawatt (MW) lithium-ion battery energy storage system, throughout its construction and even after its expected commissioning in early 2026, it said in a statement.
As renewable energy production increases, energy storage is becoming more critical to ensure power supply during peak hours, regardless of fluctuating wind or solar conditions.
Wind and solar power now constitute approximately one-third of Europe's energy mix which has driven demand for batteries to provide backup.
The Coalburn 1 project is set to become the biggest of its kind in Europe, CIP said. A spokesperson declined to disclose the value of the deal.
The project has secured revenues through a 10-year optimisation agreement with SSE, alongside a 15-year capacity market agreement.
(Reporting by Louise Breusch Rasmussen, editing by Stine Jacobsen)
The article discusses CIP's sale of a 50% stake in a Scottish battery storage system to AXA.
Energy storage ensures power supply during peak hours, crucial for renewable energy reliability.
Coalburn 1 is a 500 MW lithium-ion battery energy storage system in Scotland, set to be Europe's largest.
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