Susi has also purchased 40 MW of Eelpower’s existing electricity storage assets, which along with the new assets will continue to be managed by Eelpower.
The first stage of the JV partnership sees the start of construction in February of a new 50 MW battery storage project at Dunsinane, near Dundee, Scotland.
“We are delighted to be working with Susi Partners in what is their first investment in the UK’s energy storage market” said Eelpower CEO, Mark Simon. “The establishment of this joint venture comes at an important moment in the development of the UK electricity system. We look forward to working with them and the best route-to-market counterparties as we construct and operate a portfolio of high-performance grid-connected storage assets on our way to building a 1 GW electricity storage utility.The UK is committed to install a further 40 GW offshore wind by 2030, up from a total 10 GW today, resulting in a five-fold increase on the current installed capacity of wind power. This will clean up the UK’s energy system, support up to 220,000 British jobs, deliver lower bills for consumers and establish the UK as a low-cost green electricity exporter, in the transition to Net Zero.”
This growth in renewables will drive an increase in volatility of price and supply. This will result in grid issues which, with the parallel reduction in thermal capacity, will demand flexible storage at scale to:
Ramp fast and reliably
Balance supply and demand in real time
Cover the intermittency of renewable wind generation, and
Provide synthetic inertia and other system requirements
It will also enable increased UK energy capacity without the introduction of expensive, unpopular, inflexible nuclear power.
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