Brookfield-owned X-elio nearly doubles storage projects with Eco Stor investment

Brookfield Renewable Partners LP

19/02/2024 09:00

FRANKFURT, Feb 19 (Reuters) - Spain-based X-elio, a
renewables firm owned by Canada's Brookfield  BAM.TO   BEP.N ,
on Monday said it had teamed up with private equity firm NIC and
Norwegian utility A Energy  AGDER.UL  to invest in battery
energy storage firm Eco Stor.
    No financial details were disclosed for the investment,
which will nearly double X-elio's energy storage projects to
12.6 gigawatt (GW) from 6.6 GW and marks its entry to the German
energy storage market.
    "We are impressed by the position ECO STOR has built in
Germany over a very short period of time," said Lluis Noguera,
CEO of X-elio, which already has storage assets in operation or
under construction in the United States and Chile.
    Brookfield took full control over X-elio last year after
agreeing a deal with former co-owner KKR  KKR.N .

 (Reporting by Christoph Steitz, Editing by Rachel More)
 ((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))