NatPower announces plans to build the largest battery storage project in the UK, with a capacity of over 60 GWh
NatPower to invest over £10 billion in the UK allocated for the UK's energy transition
- NatPower UK’s developments, with a capacity of over 60 GWh, will fulfill 15-20% of UK's battery energy storage system needs by 2040
- NatPower UK will reveal new renewable energy projects (solar and wind) in 2024
- NatPower UK sets aside £600 million to build new substations in the electricity grid
NatPower UK – independent developer of infrastructure projects for the energy transition of the NatPower Group in the United Kingdom independent developer of infrastructure projects for the energy transition of the NatPower Group in the United Kingdom NatPower UK announces an investment of over £10 billion for the development of the largest battery storage program in the UK, with a capacity of over 60 GWh
By 2024, NatPower will launch new clean energy projects (solar and wind) to speed up the UK’s journey to 100% renewable energy by 2035
NatPower’s investment plays a crucial role in helping the UK achieve 100% renewable energy by 2035, especially as the Government's investment in renewable energy projects lags behind that of the United States and Europe
Fabrizio Zago, CEO of the NatPower Group states : “We are proud to announce NatPower’s investment plan in the UK, which will drive the promotion of a renewable-focused energy system and accelerate the country’s move towards achieving net zero greenhouse gas emissions. We are unveiling the largest battery energy storage program for over 60 GWh in the UK today and are ready to work with institutions and industry players to enhance energy production efficiency”.
Stefano DM Sommadossi , CEO of NatPower UK, mentioned : “The UK's resources, skills, policies, and investments are unparalleled, and companies like NatpPower will help the country achieve its goals. The energy transition not only provides cleaner and safer energy sources quickly and affordably, but also presents a tremendous opportunity for economic growth.
The UK has the chance to become a leading force in the energy transition, creating tens of thousands of highly skilled jobs and attracting a significant portion of the approximately $5 trillion in annual investments required for accelerating the energy transition by 2030 to London.
As network operators struggle to keep up with the rapid scale of the energy transition, as evidenced by delays in grid connections, NatPower is taking a different approach. The company has slated large-scale, nationwide deployment of battery energy storage systems, aiming to license 3 “GigaParks” by 2024 and another 10 by 2025
NatPower has also committed over £600 million to build substations and hasten connections to the grid. Additionally, they plan to unveil plans to create large-scale solar and wind energy infrastructure later this year.
Battery storage is important in achieving 100% renewable energy in the UK. As more energy is supplied from renewable sources, more batteries are required to store energy for use during peak consumption times or when renewable sources are unavailable. This also helps avoid issues of excess electricity production, where wind or solar energy producers may need to suspend production, potentially costing the country GBP 3.5 billion in 2030.
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Stefano DM Sommadossi continues: “ To address the barriers slowing down investments in renewable energy, we will invest in upgrading at least 15-20% of the energy distribution network's substations for the new requirement. By focusing on energy storage systems and early investment in substations, we aim to facilitate the next phase of clean energy transition and reduce energy costs for consumers.
NatPower UK, a part of NatPower Group, is an independent developer of clean energy projects with over 25 years of experience. The company has a significant pipeline of renewable projects worldwide and operates in 7 different countries, including Italy, United Kingdom, USA, Canada, Kazakhstan, Tunisia, and Chile.
