NatPower pledges £10 billion for battery storage rollout in the UK
NatPower UK says it will bring over 60 GWh of battery storage online in the UK by 2040. It has already set aside GBP 600 million ($769.8 million) for the development of substations and says large-scale solar and wind projects will be announced later this year.
March 8, 2024 Patrick Jowett
Image: Sabine van Erp, Pixabay
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NatPower UK, an arm of global energy transition developer NatPower Group, has said it will invest over GBP 10 billion in the United Kingdom‘s green energy market, including the nationwide deployment of battery energy storage projects.
The company said in a March 7 statement that it is committed to deploying more than 60 GWh of battery storage capacity by 2040, which it claims will provide 15% to 20% of UK energy storage. It said large-scale solar and wind projects will be announced later this year.
Plans for a nationwide large-scale battery storage roll out include the development of “GigaParks,” with the first three to go for planning permission this year, followed by 10 next year, confirmed NatPower UK.
It has earmarked GBP 600 million for the development of substations in this initial phase. It said this will help overcome grid bottlenecks and connection delays, which remain a key obstacle in the country’s transition to green energy.
A statement from the company said that battery storage is “an essential element of the net-zero jigsaw” and will help to reduce curtailment, which it estimates could cost GBP 3.5 billion per year by 2030.
“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,” said Stefano D. M. Sommadossi, NatPower UK CEO. “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.”
The UK government has set a target of delivering 100% renewable power by 2035. This includes plans to deploy up to 70 GW of solar by the same year.
In November, the National Grid said it is “ speeding up” the connection of around 10 GW of battery energy storage projects in England and Wales.
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