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.
Based on the value it provides to grids as shares of renewable energy grow, energy storage is a “very exciting market,” the VP of Goldman Sachs Renewable Power has said.
France’s electricity transmission system operator, RTE, is exploring options to reduce congestion on the grid at four strategic locations around the country and could award long-term contracts to battery storage systems that can help.
Commodities trading company Trafigura has said that it is building a large-scale battery storage plant in Belgium through a newly-launched renewable energy joint venture (JV) company.
Increased confidence in the asset class has been driven by three main factors: more third party trading counterparties entering the space and offering new and innovative products, increased volatility in the trading markets and the increased market size of frequency service contracts.
The battery storage optimisation and energy trading teams at EDF and Centrica Business Solutions – stalwarts of the UK’s Big Six of utility companies – have won 40MW of new deals to optimise large-scale battery storage systems.
A 10MW / 20MWh battery energy storage project in Belgium has achieved financial close and is expected to begin construction shortly, the consortium behind the project has said.
