The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

Developers Balance Power, TagEnergy in 500MW UK battery storage partnership

By George Heynes

Balance Power and TagEnergy are set to capitalise on the growing interest surrounding energy storage with the firms having partnered to build, own and operate 500MW of battery energy storage system (BESS) projects across the UK.

Running alongside this partnership, the two firms will invest over £300 million (US$338.83 million) in order to construct the projects over a period of four years.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

In developing energy storage projects across the UK, the partners aim to increase reliability of the region’s renewable sector and provide flexibility to the energy network. TagEnergy will become the majority owner of these projects.

The partnership will also increase TagEnergy’s current portfolio of over 300MW of ready-to-build or under construction battery projects by an additional 500MW at different stages of development.

Balance Power has a further 300MW contracted and part delivered as well as an additional 1GW of projects in its development pipeline. The agreement will deliver Balance Power’s first operating BESS projects.

“We are delighted to partner with TagEnergy on these projects. We have a shared vision for the market and the team has a successful track record in delivering and operating projects which complements our own expertise and skill in project development,” said Phil Thompson, CEO of Balance Power.

TagEnergy has signed a similar partnership with Harmony Energy for two grid-scale battery energy storage projects in England and Scotland.

As part of the pair’s joint venture (JV), the two revealed their intention to develop standalone battery energy storage system (BESS) projects in Chapel Farm near the town of Luton in southern England and Jamesfield Farm near Abernethy, Scotland.

Both will use Tesla’s Megapack multi-megawatt BESS technology and will be onboarded to the Tesla Autobidder AI revenue optimisation software platform.

To read the full version of this story, visit Solar Power Portal.

Watch recent webinar with Enel X, ‘How flexibility is key to powering sustainable returns from battery storage in the UK and Ireland,’ here.

12 November 2024
San Diego, USA
As we see more storage projects become operational, the big question is “how to maximize your assets?” This event will prepare the industry for the road ahead, looking at the core fundamentals of asset management, understanding operational challenges, along with the latest optimization and software development. You can expect to meet and network with all the key industry players from major US asset owners, operators, RTOs and ISOs, optimizers, software and analytics providers, technical consultancies, O&M technology providers and more.

Read Next

June 13, 2024
US$5 million will be made available for long-duration energy storage (LDES) projects via a competitive solicitation run by the New York State Energy Research and Development Authority (NYSERDA).
June 13, 2024
Developer Ethical Power has received planning consent for a 65MW solar-plus-storage project near Christchurch, New Zealand.
June 13, 2024
Liquid air energy storage firm Highview Power has raised £300 million (US$384 million) from the UK Infrastructure Bank and utility Centrica to immediately start building its first large-scale project.
June 13, 2024
TCC Group Holdings, the majority owner of New HOrizons Ahead (NHOA), intends to increase its holding and take the company private, delisting it from the Euronext Paris exchange.  
June 12, 2024
We hear from consultancy AFRY about how energy storage can reduce market risks for CfD-winning projects in the UK, now and in future, as Ørsted launches a BESS at a major wind farm project with a CfD.

Most Popular

Email Newsletter