A process of gathering information, evidence and analysis on long-duration energy storage technologies and the role they could play in the UK’s energy system has begun, launched by the government Department for Business, Energy and Industrial Strategy (BEIS).
UK-based energy storage investor-developer Pivot Power is to develop 100MW / 200MWh of battery storage split across two sites in the West Midlands region of England in partnership with energy technology provider Wärtsilä.
London-headquartered investment fund GLIL Infrastructure has invested £150 million into Flexion Energy, a “modern utility company and energy storage infrastructure specialist” which is aiming to build 1GW of energy storage in the UK over five years.
A 50MW lithium-ion battery storage system which will form part of a transmission system-connected ‘Energy Superhub’ has been commissioned in Oxford, England, while another 100MW transmission-connected project in the country has reached financial close and is set to begin construction soon.
Domestic vehicle-to-grid (V2G) can deliver ancillary services to the UK’s electricity network and earn revenues, but what is thought to be the world’s biggest trial of the technology has found that the costs of associated hardware are still too high for many consumers.
Since its IPO in November 2018, Gresham House Energy Storage Fund, a utility-scale battery storage investment fund listed on the London Stock Exchange has seen its total share price return of 27.3% significantly outperform the 7.9% returns across the FTSE All Share weighted index.