CIP Sells Minority Stakes in 500 MW Devilla Battery Storage Project to Scottish National Investment Bank and Nuclear Liabilities Fund
Type: Acquisition · Technology: Storage · Country: United Kingdom · Capacity: 500 MW · Announced: 2026-06-08
Copenhagen Infrastructure Partners (CIP) has agreed to divest minority stakes in the 500 MW Devilla battery energy storage project located in Kincardine, Scotland. The Scottish National Investment Bank and the Nuclear Liabilities Fund are acquiring these stakes on behalf of Copenhagen Infrastructure IV. CIP will retain a majority stake and continue to lead the project's delivery through construction, with commissioning expected in 2028. This project, a two-hour lithium-ion battery storage system, is one of three transmission-connected battery storage projects co-developed by Alcemi and CIP currently under construction in Scotland, which will collectively offer 1.5 GW of power capacity and 3 GWh of storage capacity once online. The Devilla project has secured a 10-year optimisation agreement with SSE and a 15-year capacity market agreement.
Counterparties
- Scottish National Investment Bank (Buyer)
- Copenhagen Infrastructure IV (Parent Company)
- Copenhagen Infrastructure Partners (Seller)
- Nuclear Liabilities Fund (Buyer)
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