Highview Surpasses Half A Billion Pounds Of Funding With Latest £130m Capital Raise For Phase One Of Long Duration Energy Storage Facility At Hunterston, Ayrshire
The title of this post, is the same as that of this news story from Highview Power.
Funding Round Enables Build Of “Stability Island” Which Will Deliver Crucial Grid Stability Services; Represents Phase One Of LDES Facility At Hunterston
These two paragraphs outline the funding raised and where it will initially be used.
Highview has secured £130 million in funding to commence work on the first stage of its planned 3.2GWh hybrid long-duration energy storage solution in Hunterston, Scotland. This brings the total raised to commercialise and roll out Highview’s long duration storage solutions to over £500 million.
This latest investment round, involving Scottish National Investment Bank (SNIB), the British multinational energy and services company Centrica, and investors including Goldman Sachs, KIRKBI and Mosaic Capital, will fund construction of the first phase of the Hunterston project, a “stability island”, which will provide system support to the electricity grid.
The Concept Of The Stability Island
This paragraph describes the concept of the Stability Island.This stability island is a key component of Highview’s LDES system. It can operate independently of the energy storage elements and will deliver critical inertia, short circuit and voltage support to the UK power grid. The asset will support the grid at a location that faces considerable stability challenges. In turn, this will enable more power to be transmitted from the point of generation in Scotland to areas of high demand, preventing curtailment of wind energy across Scotland
A large amount of energy will be routed through Hunterston from Scotland to England, Wales and the island of Ireland and the stability island will tightly control the flow of energy.
The Facility At Hunterston
These two paragraphs describe the facility at Hunterston.
As well as the stability island, the facility at Hunterston will also eventually incorporate a hybrid long duration energy storage system, combining both liquid air storage and lithium-ion batteries for greater operational performance. This means that the entire facility will be able to send more power to the grid for longer, in a flexible way, maximising the asset for the benefit of the system operator.
The energy storage element of the Hunterston facility received significant validation recently, when it was named as an eligible project for Ofgem’s Cap and Floor support scheme for long duration energy storage, along with a planned facility at Killingholme, Lincolnshire.
I suspect the Stability Island will actually distribute the energy to where it is needed.
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