A new 50MW battery storage site in the UK will be another example of how batteries are benefiting the grid and offering returns for investors, the company behind the project has said.
In mid-July, the 100MW / 100MWh Minety battery energy storage system (BESS) was completed in Wiltshire, southern England. Something of a landmark project for the UK and Europe’s battery storage industries, here’s what’s happened so far, as reported by our sister sites Current± and Solar Power Portal.
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.
By the end of 2022, the volume of installed batteries in the UK is set to outstrip the demand from frequency services, marking a key tipping point for Dynamic Containment (DC).
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.
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.
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.
Gore Street Energy Storage Fund, a publicly listed energy storage investment funds in the UK, is entering its portfolio into the Dynamic Containment grid services market while it has 100MW of projects in Northern Ireland nearing completion.
Participation in the UK’s recently-launched Dynamic Containment (DC) frequency response service has exceeded 400MW of assets with the enrolment of investment fund Gore Street Capital’s 9MW Port of Tilbury battery storage project by optimiser Origami Energy.
