TPK-KY Partners with Sumitomo and UK's GRID to Enter European Large-Scale Energy Storage Market

Central News Agency (Taipei, May 27) TPK-KY announced today that, in response to the strong demand for energy and storage facilities driven by the AI wave, it has formed a partnership with Sumitomo Corporation and GRID, the UK's largest energy storage fund, to enter the high-potential European large-scale grid-level energy storage (BESS) market.

TPK-KY stated that it will initially invest 6.36 million pounds to establish a joint venture, Summit Transition Partners Limited, with Sumitomo Corporation. The venture will invest in a 397-megawatt (MW) project developed in the UK by Gresham House Energy Storage Fund plc, a UK-listed large-scale grid-level energy storage fund. The joint venture will also secure the right of first refusal to invest in other large-scale grid-level energy storage projects totaling 297MW under GRID.

TPK-KY Chairman Michael Chiang stated that this alliance to participate in the UK's large-scale grid-level energy storage market will serve as an important springboard for future expansion in the energy storage sector. Europe's energy transition is driven by multiple factors, including the expanding need for renewable energy grid integration, the rapid construction of AI data centers driving power consumption growth, and the urgent need to upgrade aging grid infrastructure. Through this strategic cooperation, TPK-KY will have more opportunities to participate in the structural growth brought about by Europe's energy transition.

TPK-KY noted that the large-scale grid-level energy storage market is growing rapidly, with the UK market expected to grow by 45% in 2025, bringing total operational capacity to approximately 12.9 GWh. Driven by AI data center demand, it is estimated that by 2035, AI data centers will increase IT power demand by approximately 8 to 10 GW, a 4 to 5-fold increase from current levels. (Editor: Yang Kai-hsiang)