Teesworks, the UK’s largest industrial zone, has revealed plans for a 1GW battery energy storage system (BESS) in partnership with renewables developer NatPower.
The project will be constructed over 50 acres of the Long Acres section of the 4500-acre Teesworks site. Construction costs are expected to total around £1 billion. While the main plan for the BESS is focused on renewable energy storage, the company also noted that the system could also support electric vehicle (EV) charging in the future.
In a LinkedIn post announcing the development, Teesworks development director Matt Johnson said: “This agreement is a fantastic vote of confidence in Teesworks and our mission to advance renewable energy in the Tees Valley”.
Boosting BESS in the UK
With the shift to renewable energy comes the need for more adaptive and flexible grid systems, and BESS is becoming an increasingly important part of this transition. The pipeline for BESS projects has increased by two-thirds in the last 12 months, marking the second consecutive 12 month period in which the pipeline has increased by this amount.
Last week, Atlantic Green signed a deal worth almost £200 million with Ameresco and Envision Energy to build and develop a new 300MW BESS in the West Midlands, with construction expected to begin later this year.
Statera Energy is also making moves in the field, having recently submitted planning permission to the South Oxfordshire District Council for a 500MW BESS at Culham Campus, having previously secured planning consent for a 290MW BESS in Exeter.
Gresham House Energy Storage Fund has also grown its capacity, recently energising a 50MW BESS in Lancashire. With this new installation, Gresham House Energy Storage Fund now has an operational capacity of 790MW.
Financial investment in BESS is on the rise too. The Gore Street Energy Storage Fund recently revealed that its revenue grew by 5% to hit £41.4 million in the 12 months leading up to 31 March 2024. Over the same period, the fund’s operational capacity also grew by 45%, reaching 421.4MW of capacity.
Meanwhile, Aura Power recently secured £10 million of funding from Novuna Business Finance to progress its global development pipeline, including an upcoming BESS project in Capenhurst, Cheshire.
