COPENHAGEN, Denmark and EDINBURGH, Scotland, June 08, 2026 (GLOBE NEWSWIRE) -- Copenhagen Infrastructure Partners (CIP), on behalf of Copenhagen Infrastructure IV (CI IV), has agreed to divest minority stakes in the Devilla battery storage project to the Scottish National Investment Bank (“the Bank”) and Nuclear Liabilities Fund (NLF). Once operational, the project will be among Europe’s largest battery storage facilities, supporting grid stability and the integration of renewable energy generation.
Devilla is a 500MW, 2-hour-duration, lithium-ion battery energy storage system (BESS) located in Kincardine, Scotland. CIP retains the majority stake and will continue to lead project delivery through the current construction phase. The project has a high level of contracted revenues through a 10-year optimisation agreement with SSE plc, a leading generator of renewables and flexible power in Great Britain and Ireland, alongside a 15-year capacity market agreement, providing visibility and a stable foundation for returns while maintaining exposure to market upside.
Devilla is one of three transmission-connected BESS assets co-developed by Alcemi and CIP that are currently being constructed by CIP in Scotland. Collectively, the projects will have a total power capacity of 1.5GW and will be able to store and supply the grid with a total of 3GWh of electricity, enough to supply over 4.5 million households for two hours. CIP is developing a further 4.5GW of BESS projects across Scotland and England.
Commenting on the news, Nischal Agarwal, Partner at CIP, said: “As CIP’s development and construction portfolio of UK BESS projects continues to progress and grow, we look forward to welcoming the Scottish National Investment Bank and Nuclear Liabilities Fund as new equity partners on our Devilla site. Once commissioned in 2028, Devilla will be one of Europe’s biggest operational BESS projects. The delivery of Devilla, alongside CIP’s Coalburn 1 and 2 projects, will improve the UK’s energy security and reduce costs for British consumers through enhanced system flexibility and access to more low-cost renewables.”
Robin Tayal, Investment Director at the Scottish National Investment Bank, said: “Battery energy storage systems are a critical part of improving energy security and stability. The Devilla site is strategically located and will support renewable integration, grid stability, and system flexibility. We are pleased to partner with CIP and the wider investor group to support the delivery of this important asset.”
Melissa Hope, Chief Executive of Nuclear Liabilities Fund, added: “NLF is pleased to partner with CIP and the Bank on this battery storage project. This investment aligns with our strategic investment objectives while supporting UK energy security and economic growth.”
Notes to Editors
Media Contact
CIP: media@cip.com
Scottish National Investment Bank: thebank@charlottestreetpartners.com
NLF: info@nlf.uk.net
About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) is a global fund manager and leading investor in energy infrastructure. CIP builds value that matters by developing and constructing critical infrastructure projects that shape the future of energy. Through its funds, CIP invests in power generation (solar and wind), energy storage, transmission and distribution, advanced bioenergy, low-carbon fuels and carbon capture.
With 15 funds currently under management, CIP is trusted by over 200 of the world’s largest and most sophisticated institutions, having raised EUR ~37 billion to date. CIP has projects in more than 30 countries, with presence on the ground through a network of +2,300 professionals.
For more information, visit www.cip.com.
About the Scottish National Investment Bank
The Scottish National Investment Bank is Scotland’s development bank and exists to provide patient (long-term) debt or equity investments to businesses and projects that support the development of a fairer, more sustainable Scottish economy.
The Bank is a public limited company (plc) that was established in November 2020. It is wholly owned by Scottish Government ministers on behalf of the people of Scotland, but operates independently from government.
As an impact investor, the Bank is focused on delivering both commercial returns and tangible benefits that align with at least one of its three missions:
- Net zero: Addressing the climate crisis through growing a fair and sustainable economy
- Innovation: Scaling up innovation and technology for a more competitive and productive economy
- Place: Transforming communities to make them places where everyone thrives.
The Scottish Government has committed to capitalising the Bank with £2bn in its first 10 years. Over time, as the Bank’s initial investments are repaid, it will reinvest those funds in more businesses and projects, creating a perpetual investment fund to support the Scottish economy in the long term.
Find out more at: www.thebank.scot
About the Nuclear Liabilities Fund
Established in 1996, the Nuclear Liabilities Fund (NLF) is an independent ring-fenced fund to meet the costs of decommissioning eight nuclear power stations in the UK. To date circa £2.8bn of decommissioning payments have been made. The decommissioning programme is expected to continue into the next century, with NLF protecting both current and future generations from costs associated with generation of nuclear power. NLF assets are invested to optimise growth and achieve returns to meet the fund’s long-term obligations. NLF contributes to the UK economy with over £1.6bn invested in the UK.
Further information can be found on www.nlf.uk.net
