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Energy Transition Update - Europe's Largest Battery Storage Boosts UK Grid Stability
Reviewed by Simply Wall St
Copenhagen Infrastructure Partners (CIP) has agreed to divest a 50% stake in its Coalburn 2 battery project to AIP Management. Once operational, Coalburn 2 will be one of Europe's largest battery storage facilities, playing a crucial role in enhancing grid stability and integrating renewable energy sources in the UK. With a capacity of 500MW, the lithium-ion energy storage system will support the UK's electricity system by providing flexible capacity and contributing to energy security. This development underscores the ongoing advancements in energy transition infrastructure, reflecting a growing commitment to sustainable energy investments. AIP's involvement highlights its strategic focus on high-quality energy storage assets that can aid in the reduction of greenhouse gas emissions significantly.
Elsewhere in the market, First Solar (NasdaqGS:FSLR) was a standout up 8.9% and closing at $244.40, close to the 52-week high. Meanwhile, Fincantieri (BIT:FCT) trailed, down 7.7% to end trading at €22.90.
Best Energy Transition Stocks
- Applied Materials (NasdaqGS:AMAT) ended the day at $227.58 up 4.3%, hovering around its 52-week high.
- Tesla (NasdaqGS:TSLA) closed at $435.15 up 1.4%.
- Chevron (NYSE:CVX) finished trading at $152.11 down 0.2%.
Summing It All Up
- Unlock our comprehensive list of 183 Energy Transition Stocks like Huaneng Power International, Larsen & Toubro and ACEA by clicking here.
- Contemplating Other Strategies? Rare earth metals are an input to most high-tech devices, military and defence systems and electric vehicles. The global race is on to secure supply of these critical minerals. Beat the pack to uncover the 39 best rare earth metal stocks of the very few that mine this essential strategic resource.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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About NasdaqGS:TSLA
Tesla
Designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally.
Flawless balance sheet with reasonable growth potential.
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