February 19, 2019 / 8:41 AM / a year ago

Japan's JERA to invest up to $32 mln in UK battery storage co Zenobe Energy

TOKYO, Feb 19 (Reuters) -

* Japan’s JERA Co, a fuel trading joint venture between Tokyo Electric Power and Chubu Electric Power, said on Tuesday it and TEPCO Power Grid will invest up to 25 million pounds ($32 million) in Zenobe Energy, a UK-based battery storage firm.

* Zenobe Energy, which supplies, finances, owns and operates battery storage assets, started operating in 2017 and is one of the largest owners and operators of battery storage in Britain, with a capacity of approximately 73 megawatt, JERA said.

* The investment is aimed to enable JERA to gather knowledge of how batteries can respond to variances in supply and demand in the power grid caused by a changing energy generation mix, it said. ($1 = 0.7747 pounds) (Reporting by Yuka Obayashi; Editing by Rashmi Aich)

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