Foresight has chosen leading flexible energy specialist Flexitricity to optimise a new battery site in West Gourdie.
The site in Dundee will house a 50MW lithium-ion battery and will be one of the largest battery storage units in Scotland, and will play a major role in helping National Grid ESO manage GB’s energy needs.
It is expected that the site will be fully operational and trading in the first quarter of 2022.
West Gourdie will have a 49.9MW import and export connection and Flexitricity will optimise it across all the available markets to maximise revenue, including various frequency response services procured by National Grid ESO, the Balancing Mechanism and wholesale markets. Flexitricity monitors the markets and the asset round the clock from its 24/7 control room in Edinburgh, and remotely alters the charge and discharge profile of the battery.
The UK now boasts over 1GW installed battery storage capacity and the market needs further growth to facilitate a net zero energy system. Flexibility is a hugely important part of decarbonising the grid and batteries are an excellent source of flexibility.
Flexitricity has been rapidly building its energy storage portfolio over the recent years, which includes both large-scale front-of-the-meter batteries and smaller on-site behind-the-meter assets. Flexitricity is also making strides in harnessing the flexibility of smaller assets such as electric vehicles and domestic heat pumps and intends to bring EVs to the Balancing Mechanism later this year.
Andy Lowe, Chief Commercial Officer at Flexitricity said:
“We are delighted to partner with Foresight to optimise this new battery site.
“Battery storage is a rapidly growing industry here in the UK and the ability to maximise its revenue potential will be crucial for further investment moving forward.
The opportunities are certainly there and we’re confident in our ability to offer market-leading value. Our portfolio has been growing fast which demonstrates trust from the market, both in Flexitricity and the potential of the industry.
“With recent announcements bringing our 2050 carbon commitments forward to 2035, investment in low carbon energy remains as critical as ever.”
Jonathan Lovell, Investment Manager at Foresight said:
“We are very happy to partner with Flexitricity to optimise this site. West Gourdie is a significant battery site and will be one of the largest in Scotland.
“The proportion of intermittent renewable generation is set for further growth, and storage sites like these are much needed as they offer network operators an additional tool in managing the electricity grid.
“We are very much looking forward to seeing the site fully operational in 2022.”
ENDS
About Flexitricity
Flexitricity created and now operates the first, largest and most advanced demand response portfolio in GB and has unsurpassed knowledge of the market and its requirements.
Headquartered in Edinburgh, Flexitricity partners with businesses throughout Great Britain to provide reserve electricity to National Grid. The word “Flexitricity” means “Flexible Electricity”. The company looks for flexibility in electricity consumption and generation, creating revenue for energy users and generators as well as reducing national CO2 emissions and helping to secure energy supplies.
Their team is fully engaged at industry and regulatory level and has a track record that demonstrates innovation and delivery success.
Flexitricity is a wholly owned portfolio company of Quinbrook Infrastructure Partners, a specialist investment manager focused exclusively on lower carbon and renewable energy infrastructure investment and operational asset management in the US, UK and Australia.
About Foresight:
Foresight is a listed infrastructure and private equity investment manager which has been managing funds on behalf of institutions and retail clients for more than 35 years. Foresight has over £7.0 billion of assets under management across a number of funds, including listed vehicles, Limited Partnerships, Enterprise Investment Schemes, Venture Capital Trusts, Inheritance Tax Solutions and Open-Ended Investment Companies.
Funds managed by Foresight include the ownership of 162 solar projects around the World, 31 onshore wind projects, 43 bioenergy and waste facilities in the UK and Europe and 26 reserve power assets. Foresight also invests in the wider infrastructure sector including hydro, battery storage and waste management and wastewater treatment projects. Together our projects have a potential generating capacity of over 2.7 GW, enough clean renewable electricity to power more than one million UK homes every year. Foresight is headquartered in Guernsey with its principal office in London and international offices in Luxembourg, Rome, Madrid and Sydney.
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Neil McDonald / neil@mediazoo.tv / 07428 398 402