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New BlackRock Real Assets and KX Power JV to develop battery storage assets in the UK

KX Power (KXP), a London-based battery storage developer announces has formed a joint venture with BlackRock Real Assets to develop, build and operate battery storage projects across the UK.

The investment is being made by the BlackRock Global Renewable Power III (GRP III) fund and will support the build out of up to 2GWh (Gigawatt hours) of battery storage assets across the UK.

This investment is GRP III’s first into the UK’s battery storage market and brings together BlackRock’s infrastructure expertise and KXP’s extensive experience developing BESS assets to create a portfolio of advanced energy storage systems supporting the UK’s energy transition, and in tandem, increased energy security.

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