LONDON, Jan. 13 (Reuters) – Renewable energy investor Econergy Renewable Energy (ECNR.TA) on Thursday announced plans to develop a portfolio of 800 megawatts (MW) of renewable energy storage and 900 MW of solar capacity photovoltaics (PV) in Britain over the next three years.

The company said it plans to develop 350 MW of energy storage capacity for operation in 2023, 300 MW for 2024 and 150 MW for 2025. It also aims to develop 900 MW of solar photovoltaic projects by early 2025, a company spokesperson said.

As a first step, Econergy acquired a 50 MW storage project in Yorkshire, in the north of England, from UK renewable energy developer Yoo Energy, for an undisclosed amount.

“The UK is a key market for Econergy and leads the development of storage technology, which has a key role to play in reducing our dependence on fossil fuels and enabling the transition to clean energy,” said the Managing Director from Econergy, Eyal Podhorzer.

Econergy is listed on the Tel Aviv Stock Exchange and develops solar photovoltaic, wind and storage projects in Europe, notably in Great Britain, Italy, Spain, Romania and Poland.

It currently has 6 gigawatts (GW) of projects under development across Europe.

Reporting by Nina Chestney; edited by David Evans

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