Fengate & Alpha Omega Power launch storage venture
Fengate Asset Management has reached financial close on a development partnership with Alpha Omega Power (AOP) with a view to building a US battery energy storage system (BESS) development platform.
Fengate is managing this development partnership on behalf of its infrastructure investors, including an investment fund owned by the LiUNA Pension Fund of Central and Eastern Canada.
A Fengate statement said: “There is increasing demand for BESS projects due to the increasing supply of intermittent renewable energy projects and retirement of thermal power projects. With a proven management team, AOP is focused on acquiring, developing, constructing, and operating standalone BESS projects.”