NatPower announces over 60 GWh of battery storage and clean energy projects

While public opinion is widely favourable to renewable energy, investment in the UK is falling short compared to the US and Europe. In a highly competitive market, changes of government policy and opposition commitments have impacted investor appetite in the UK. This investment by NatPower is a significant boost to the UK’s transition to clean energy, helping retain the UK's position among the five most attractive countries for clean energy development.

Stefano D. M. Sommadossi, CEO at NatPower UK, said: “The UK is unrivalled in its resources, skills, policy and potential, and ambitious leaders, government, investors, lenders, and developers, will get us where we need to go.

“The energy transition is not only the fastest way of providing cheaper, cleaner and more secure sources of power, but it is also a staggering opportunity for economic growth.

“The UK has the unique chance to transform itself into an energy transition powerhouse, generating tens of thousands of highly qualified jobs, with the City of London becoming a central player in managing the US$5 trillion of investment needed every year until 2030 globally, to make the energy transition a reality.”

With grid operators unable to cope with the sheer scale and speed of the energy transition, as recent delays to grid connections demonstrate, NatPower is taking a different approach.

The company has a large scale battery storage roll out planned nationwide, with the first three 'GigaParks' going for planning permission in 2024 and 10 more in 2025. £600 million is earmarked for the development of substations in this initial phase, to help overcome grid bottlenecks and connection delays, such as those announced week commencing 4 March 2024. This will be complemented by large scale solar and wind projects to be announced later.

Battery storage is an essential element of the net zero jigsaw, and crucial to achieving the UK’s net zero goal. As more renewable energy comes onto the grid, batteries are needed to store energy for use during time of peak demand or when renewable power is not available. They also help reduce curtailment, where wind or solar projects are paid to stop generating power when supply exceeds demand, which could cost the country £3.5 billion/y by 2030.

Sommadossi added: “To solve the bottlenecks that are slowing the shift to clean energy, we will drive investment into the grid itself, collaborating with grid operators to deliver more than 20% of the new substations required.

“By investing in substations and focusing on energy storage first, we will enable the next phase of the energy transition and bring down the cost of energy for consumers. We plan to deliver the benefits of the energy transition to all corners of the UK and our portfolio will play a big part in the UK achieving 100% of its targets.”

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Read the article online at: https://www.energyglobal.com/energy-storage/07032024/natpower-announces-over-60-gwh-of-battery-storage-and-clean-energy-projects/