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EDF accelerates storage and EV ambitions

EDF has fully acquired UK battery storage start-up Pivot Power, in a push to become Europe’s leader in the storage and EV charging markets. Financial terms of the deal, announced on Monday, have not yet been disclosed, but will see Pivot Power become a wholly owned subsidiary of EDF Renewables, as the utility makes tracks towards reaching its intended spend of $10 billion in energy storage by 2035. Pivot Power currently has a pipeline portfolio of 40 storage projects across the UK, with a cumulative capacity of 2 GW and the first two projects expected to be connected to the national grid by late 2020. Alongside a planned network of rapid EV chargers, the plans themselves were valued around £1.6…

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