LONDON – Highview Power and Ørsted have completed their joint investigation into how combining the technologies of Liquid Air Energy Storage (LAES) and offshore wind could unlock greater value for investors and consumers.
The two companies have carried out in-depth analysis of technical performance, route to planning approval and route to market with a rigorous regulatory and economic assessment.
The results show that there is value to combining offshore wind with LAES to support reducing wind curtailment, increasing productivity, and helping the move to a more flexible, resilient zero carbon grid.
Further, as a result of this study, the companies believe a project can be developed and built aligned with the timeline of an offshore wind farm.
The project findings will be fed into the UK Government’s ‘Long Duration Energy Storage’ consultation process to demonstrate the benefits of LAES in delivering the shift to clean energy.
This collaboration comes at a critical moment for the UK – offshore wind will be essential for the UK’s ambition to achieve net zero by 2050. To achieve this, a step-change in the speed and scale of deployment of offshore wind is needed.
Storage systems will play a crucial role in supporting the stability of the power network and improving the efficiency of wind farms, encouraging future investment in renewable energy that will boost the UK’s energy security and cut consumer bills.
The UK will need up to 100 GWh of energy storage by 2050 according to estimates from National Grid ESO’s Future Energy Systems Scenarios.
Richard Butland, CEO at Highview Power said: “The successful co-location of Highview Power’s liquid air energy storage with Ørsted’s offshore wind offers a step forward in creating a more sustainable and self-sufficient energy system for the UK. By enabling renewable energy to be stored and used on-demand, we are on an important journey to help to accelerate the UK’s journey towards energy independence and net-zero emissions.”
Duncan Clark, Managing Director UK & Ireland for Ørsted said: “Our collaboration with Highview Power demonstrates what is possible in building a world that runs entirely on green energy. Together our technologies can be a catalyst to accelerate the transition from fossil fuels to renewable energy and help unlock the economic potential of that transition for the UK.”
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