What is the long duration energy storage Investment Support Scheme?

Long Duration Electricity Storage investment support scheme will boost investor confidence and unlock billions in funding for vital projects. The UK is a step closer to energy independence as the government launches a new scheme to help build energy storage infrastructure.

Who owns Bramley battery energy storage system?

6 August 2024, LONDON — Global energy storage owner-operator BW ESS and its partner, Penso Power, have signed a seven-year tolling agreement with Shell Energy Europe Limited (Shell) for their Bramley Battery Energy Storage System (BESS) currently under construction in Hampshire, UK.

What is the Great British Energy Plan?

It also follows the launch of Great British Energy, lifting the ban on onshore wind and delivering a record number of clean energy projects through its renewables auction – all part of the plan to protect billpayers from volatile energy price spikes driven by fossil fuels.

Why do we finance Thurrock storage & Thurrock power?

Financing assets such as Thurrock Storage and Thurrock Power remains critical for the UK in enabling greater flexibility and resilience to the UK grid, and highlights our commitment to assist the UK’s renewable energy transition. Director of Specialised and Project Finance at Santander UK, Jonathan Corcoran, said:

How does statera finance the Thurrock storage project?

The financing is provided through a syndicate of six global energy and infrastructure finance banks. Statera secured £144 million of debt financing in November 2023, which has supported the delivery of Statera’s Thurrock Storage project.

Will the UK be a step closer to energy independence?

The UK is a step closer to energy independence as the government launches a new scheme to help build energy storage infrastructure. This could see the first significant long duration energy storage (LDES) facilities in nearly 4 decades, helping to create back up renewable power and bolster the UK’s energy security.