NatPower UK pledges £10bn for 60GWh battery storage pipeline
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NatPower UK has announced over £10 billion ($12.9 billion) for the development of 60GWh worth of British battery energy storage.
In a release, NatPower Group CEO Fabrizio Zago said the announcement marks the largest programme for the development of battery energy storage systems in the UK.
With a capacity of over 60GWh, the programme is expected to make up 15 to 20% of the UK’s battery energy storage system needs by 2024.
Specifically, NatPower UK – which is owned by Luxembourg-based global developer NatPower Group – has planned large-scale, nationwide development of battery energy storage systems.
Rollout will start with three ‘GigaParks’ to be licensed by later this year and another 10 by 2025.
Alongside the upcoming battery pipeline, the company announced the allocation of over £600 million ($770.6 million) towards developing substations to help speed up connections to the power grid.
Added to this are plans to develop large-scale solar and wind energy infrastructure, which will be announced with more detail by NatPower UK later this year.
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Commented Zago: “Today we present the largest programme for the development of battery energy storage systems, over 60GWh in the UK, and we are ready to collaborate with institutions and players in the sector to make the energy production system increasingly efficient”.
The more renewable energy fed into the distribution network from renewable sources, the more batteries are needed to store for use when there are peaks in energy consumption or when renewable sources are not available.
Said Stefano DM Sommadossi, CEO of NatPower UK: “To resolve the constraints that are slowing down investments in renewable energy, we will make investments in the energy distribution network, upgrading the substations for at least 15-20% of the new requirement.
“By investing in substations early on and focusing on energy storage systems, we will facilitate the next phase of the clean energy transition, thereby reducing the cost of energy for consumers.”
Added Sommadossi: “When it comes to resources, skills, policies, and investment, the UK is unrivalled and companies like NatpPower will help achieve the goal the country has set for itself.
