The UK is undoubtedly one of the hottest global markets for battery storage today and a considerable pipeline of projects exists. Analyst Mollie McCorkindale from Solar Media Market Research explains some of the methodologies to filter out the top 10 projects in development.
Foresight Solar Fund, a UK-based investment company with over a gigawatt of solar PV assets in its portfolio, has made its first move into the battery storage space.
UK energy storage investor Gore Street Energy Storage Fund raised £135 million (US$187.89 million) towards deploying a 1.3GW development pipeline, with the funds also to be used for a potential 80MW acquisition for its portfolio of battery projects.
The UK reached a gigawatt of battery storage deployments in the second quarter of 2020 and the industry has 14.9GW in its development pipeline including 1.8GW of ready-to-build projects and 6.9GW with planning approvals in place.
The April 2021 episode of the Solar Media Podcast, sponsored by Honeywell, is now available to stream. We discuss everything from long-duration energy storage and floating solar technologies to the UK’s greenest weekend ever and Vietnam’s solar rush.
A 100MW battery energy storage system just announced in the UK by battery storage developer, owner and operator Zenobe Energy is the first such system to win a long-term contract from the country’s transmission system operator to directly absorb reactive power from the transmission network.
Gore Street Energy Storage Fund, one of two stock exchange-listed investment funds in the UK dedicated to energy storage, is proposing a new issue of ordinary shares at 102 pence (US$1.41) per share to raise further capital for its development pipeline of 1.3GW.
Industry group Scottish Renewables has warned that the UK’s climate change targets will not be met without the removal of barriers to long-duration energy storage such as pumped hydro.
Global cleantech firm Pacific Green has signed an exclusivity agreement to develop up to 1.1GW of battery energy storage systems (BESS) in the UK sourced by infrastructure project developer TUPA Energy.
A new market mechanism for longer-duration storage should be created according to the UK’s Association for Renewable Energy and Clean Technology (REA).
