Cryogenic firm Highview Power has announced its plans to develop the UK’s first commercial cryogenic battery energy storage facility.
The 50MW/250MWh facility will be sited at a thermal power station in North England and will be used by the National Grid to stabilise its energy system.
National Grid will leverage the facility to provide market arbitrage, frequency management, reserve and grid constraint management services.
The project is claimed to be the largest of its kind in Europe and is expected to help the Uk to expand its portfolio of clean energy resources as well as decarbonise industry, power, heat and transport systems.
Highview Power’s CRYOBattery can store energy for weeks, instead of hours or days, and at approximately £110/MWh for a 10-hour, 200 MW / 2 GWh system, the lowest levelised cost of storage for large-scale applications.
Javier Cavada, the CEO of Highview Power, said: “Long-duration, giga-scale energy storage is the necessary foundation to enable base-load renewable energy and will be key to a 100% carbon-free future.”
Energy storage is a hot topic set for discussion at this year's European Utility Week and POWERGEN EUROPE conference which takes place from the 12th to the 14th of November 2019. Click here to register to attend or for more information about the event.
The announcement follows the release of a new report by BNEF which states that energy storage installations around the world will increase to 1,095GW/2,850GWh by 2040 hence up to $662 billion in investment is required over the next two decades.