NatPower says it will build over £10bn worth of battery storage amounting to around 15-20% of the UK''s needs by 2040. The UK-based firm, a division of NatPower Group,
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NatPower says it will build over £10bn worth of battery storage amounting to around 15-20% of the UK''s needs by 2040. The UK-based firm, a division of NatPower Group, which is headquartered in Luxembourg, plans to
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The UK is one of the world’s most active markets for battery energy storage. In 2022, a record of 800MWh of new storage capacity was added, taking the operational energy storage capacity to between 2.4GWh and 2.6GWh, spread across more than 160 sites.
In 2022, a record of 800MWh of new storage capacity was added, taking the operational energy storage capacity to between 2.4GWh and 2.6GWh, spread across more than 160 sites. If approved and built, NatPower’s infrastructure plans would massively outweigh the capacity currently available.
NatPower proposes adding a capacity of over 60GWh to the grid, which would be linked to solar and wind projects the firm also wants to develop this year. The government’s target is to completely decarbonise the UK’s energy system by 2035.
The country’s grid offers contracts to solve issues concerning voltage, inertia and short circuits. “The UK put an onus on battery storage before anyone else did,” said Mr Michael Longson, a commercial associate at London private equity firm Gore Street Capital, which focuses on energy storage.
PHOTO: AFP BRUSSELS – Europe is on the brink of an enormous surge in battery projects for the grid after a half-decade of stumbling without a clear strategy. There could be a sevenfold increase to more than 50 gigawatts in capacity connected to transmission networks by 2030, according to power market analyst Aurora Energy Research.
The UK, Italy and Ireland are the top three markets for storage investment within the region, with Spain and Greece emerging. “Grid-scale battery building was already picking up in 2023 and is now increasing its speed,” said Mr Ryan Alexander, lead researcher for European power markets at Aurora, which released its report on Feb 13.
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