How Will Highview Power Affect The Lithium-Ion Grid Battery Market?
In this article on the Telegraph, Rupert Pearce, who is Highview’s chief executive and ex-head of the satellite company Inmarsat, discloses this.
Highview is well beyond the pilot phase and is developing its first large UK plant in Humberside, today Britain’s top hub for North Sea wind. It will offer 2.5GW for over 12 hours, or 0.5GW for over 60 hours, and so forth, and should be up and running by late 2024.
The Humberside plant is new to me, as it has not been previously announced by Highview Power.
- If it is built it will be megahuge with a storage capacity of 30 GWh and a maximum output of 2.5 GW.
- Humberside with its connections to North Sea Wind, will be an ideal location for a huge CRYOBattery.
- The world’s largest battery is at Ouarzazate Solar Power Station in Morocco and it is 3 GWh.
- The world’s largest pumped storage power station is Fengning Pumped Storage Power Station in China and it is 40 GWh.
The proposed Humberside battery also has a smaller sibling under construction at Carrington in Manchester.
This will have a storage capacity of 250 MWh and a maximum output of 50 MW.
Factors Affecting The Choice
Several factors will affect the choice between lithium-ion batteries and Highview Power’s CRYOBattery.
Reliability
Reliability is paramount and whilst lithium-ion batteries batteries have a high level of reliability, there probably needs to be more development and quality assurance before CRYOBatteries have a similar level of reliability.
Size
The largest lithium-ion battery, that has been proposed in the UK, is the 320 MW/640 MWh battery that will be installed at the Gateway Energy Centre in Essex.
This size of CRYOBattery should be possible, but this size is probably in range of both lithium-ion and CRYOBatteries.
Safety
The Wikipedia entry for Battery Storage Power Station has this to say about Safety.
Some batteries operating at high temperatures (sodium–sulfur battery) or using corrosive components are subject to calendar ageing, or failure even if not used. Other technologies suffer from cycle ageing, or deterioration caused by charge-discharge cycles. This deterioration is generally higher at high charging rates. These two types of ageing cause a loss of performance (capacity or voltage decrease), overheating, and may eventually lead to critical failure (electrolyte leaks, fire, explosion).
An example of the latter was a Tesla Megapack in Geelong which caught fire, fire and subsequent explosion of battery farm in Arizona, fire of Moss Landing battery farm. Concerns about possible fire and explosion of a battery module were also raised during residential protests against Cleve Hill solar farm in United Kingdom. Battery fire in Illinois resulted in “thousands of residents” being evacuated, and there were 23 battery farm fires in South Korea over the period of two years. Battery fires may release a number of dangerous gases, including highly corrosive and toxic hydrogen fluoride.
The long term safety of a CRYOBattery is probably not yet known in detail, but I suspect in some applications, CRYOBatteries could be safer than chemical batteries.
Environmental Factors
I suspect that CRYOBatteries can be built without any hard-to-mine or environmentally-unfriendly materials like lithium.
Cost
The article in The Telegraph, says this about costs.
Mr Pearce said Highview’s levelised cost of energy (LCOE) would start at $140-$150, below lithium, and then slide on a “glide path” to $100 with over time.
It does look that the all important factor of cost could be the clincher in the choice between the two systems.
For larger batteries, the CRYOBattery will probably have a larger advantage.
Conclusion
I can see Highview Power and their CRYOBatteries putting up a good fight against lithium-ion batteries, especially with larger batteries, where they have a larger cost advantage.
In the UK, we will know they have won an advantage, if the two big battery-storage funds; Gore Street and Gresham House, start to install CRYOBatteries.
Gore Street Energy Storage Fund Seals ‘Landmark’ Acquisition In Germany
The title of this post, is the same as that of this article on Proactive Investors.
This is the first paragraph.
“This is a landmark acquisition with compelling fundamentals which not only demonstrates our entry into new markets but also increases our operational cash generating assets, and further diversifies Gore Street’s portfolio.”
I would assume that this is a quote from someone at Gore Street.
A more engineering approach is taken in this article on Renewsables Now, which is entitled Gore Street Buys 90% Stake In 22-MW/28-MWh Battery In Germany.
Gore Street Energy Storage Fund certainly have ambition.
When Will Energy Storage Funds Take The Leap To New Technology?
This article on the Motley Fool is entitled 3 UK Dividend Shares To Buy Yielding 6%.
This is a paragraph from the article.
The first company on my list is the Gore Street Energy Storage Fund (LSE: GSF). With a dividend yield of just over 6%, at the time of writing, I think this company looks incredibly attractive as an income investment. It is also an excellent way for me to build exposure to the green energy industry.
Just as everybody has a fridge in their house to stop food being wasted, electricity networks with a lot of intermittent resources like wind and solar, needs a device to store electricity, so that it isn’t wasted.
Gore Street Energy Storage Fund is being very safe and conservative at the current time, often using batteries from one of Elon Musk’s companies.
You can’t fault that, but they are only barely making a dent in the amount of batteries that will be needed.
If we are generating tens of GW of wind energy, then we need batteries at the GWh level, whereas at the moment a typical battery in Gore Street’s portfolio has only an output of a few megawatts. They don’t state the capacity in MWh.
There is this statement on their web site, about the technology they use.
Although the projects comprising the Seed Portfolio utilise lithium-ion batteries and much of the pipeline of investments identified by the Company are also expected to utilise lithium-ion batteries, the Company is generally agnostic about which technology it utilises in its energy storage projects. The Company does not presently see any energy storage technology which is a viable alternative to lithium-ion batteries. However, there are a number of technologies which are being researched which if successfully commercialised, could prove over time more favourable and the Company will closely monitor such developing technologies.
They say they are agnostic about technology and are looking around, but they are sticking with lithium-ion technology.
That technology works, is safe and gives a good return.
But they are at least thinking about moving to new technology.
In the rail industry, it is common for rail leasing companies to get together with train manufacturers or remanufacturers to develop new trains.
As an example, Eversholt Rail and Alstom formed a partnership to develop a hydrogen-powered train for the UK, which I wrote about in Alstom And Eversholt Rail Sign An Agreement For The UK’s First Ever Brand-New Hydrogen Train Fleet.
Worldwide, there are probably upwards of a dozen very promising energy storage technologies, so I am very surprised that energy storage funds, like Gore Street and Gresham House have not announced any development deals.
Conclusion
Energy storage funds could benefit from using some of the financing methods used by rolling stock leasing companies.
1.5GW Of Irish PV To Receive Grid Connection Offers Through ECP Process
The title of this post is the same as that of this article on Solar Power Portal.
Note.
- There are 85 projects in total.
- Several also involve energy storage
- Gresham House and Gore Street Energy Storage Funds are involved.
It all seems to be happening in Ireland.
Financial Incentive Needed To Drive UK Energy Storage
The title of this post, is the same as that of this article on pv Magazine.
This is the first paragraph.
The lack of an incentive regime for battery projects and the like – whether a fixed feed-in tariff or market-driven contracts-for-difference program – is likely to see the COP26 host miss its 100%-clean-power-by-2035 commitment, according to K2 Management.
As a Control Engineer, I would go for a market-driven contracts-for-difference program, which if properly setup should give feedback, so that eventually, storage and renewable energy production are in equilibrium with the power needed.
It’s not as if, we’re short of ideas for energy storage in the UK.
I think the breakthrough will come, when one of the big energy storage funds like Gresham House or Gore Street decides to back one of the viable environmentally-friendly energy storage concepts, that are currently under development.
I am watching energy storage, as I suspect there could be a big announcement at COP26.
Gore Street Energy Storage Fund Revenues Boosted Amid Market Volatility
Over the last few years, I have blogged about energy storage and two energy storage funds; Gore Street and Gresham House.
According to an article on Proactive Investors, with the same title as this post, Gore Street hasn’t been doing badly lately and says this about their recent performance.
Gore Street Energy Storage Fund PLC said its assets in Great Britain generated revenues two times above forecast in September and added that industry is only at the start of its growth curve.
When I saw the concept of an energy storage fund, as a Control Engineer, I liked it.
The wind doesn’t always blow and the sun doesn’t always shine, so something is needed to cover the gaps in the supply.
The obvious way to cover the gaps is to put a battery in the circuit.
- When the electricity supply is higher than the demand, the surplus electricity can be stored in a convenient battery connected to the grid.
- When the reverse is true and there is a deficit of electricity, the energy in the battery can be used to make up the difference.
The battery works with electricity, just like a bank works with money, except that batteries don’t pay interest.
- The battery owners do make money by buying electricity, when it’s cheap and selling it back at a higher price.
- Tesla and others will sell you both batteries and the controlling software.
- Some areas with perhaps high levels of wind and solar or unreliable power supplies could use batteries improve the robustness of the electricity supply.
- More wind and solar power will inevitably lead to a need for more energy storage.
- Battery technology will get cheaper in terms of the cost per MWh of storage.
- Battery-grid interface hardware will get more capable.
- Management software will get better at balancing the grid.
This all adds up to increasing opportunities at possibly lower costs for energy storage funds like Gore Street and Gresham House.
So we will inevitably see a growth of energy storage funds.
But they will change.
New Battery Technology
There are several new battery technologies, that I believe could prove to be competitive in terms of capacity, cost, efficiency and reliability when compared to lithium-ion batteries.
Some of them will also have the advantage of only using easy-to-source, environmentally-friendly materials in their manufacture.
Some battery technologies are also easier to scale up, in that your have a central unit, which is connected to several stores. So to scale up, you add another store to the central unit. Highview Power’s CRYOBattery works on this principle.
I can see energy storage funds taking off faster, when someone designs the ideal battery for their purposes.
More Energy Storage Funds
We will see more players enter the energy storage fund market, just as we saw more players enter the peer-to-peer lending market. But just as that market attracted men with silly hats, boots and horses, not all will be reputable. But there are signs that banks I might trust are entering the market.
I also think there could be a hybrid model, which is almost a cross between an energy storage fund and peer-to-peer technology.
But be prepared for financial innovation.
And always do due diligence before investing.
Local Energy Storage Funds
I can envisage sensible established players offering investment on a local basis.
So perhaps the residents of a town with a need for a battery, might like to help fund it.
Or just as Aviva with their strong connections to East Anglia helped to fund Greater Anglia’s new trains, they might fund a battery in perhaps Cromer.
Conclusion
I feel the future is very rosy for energy storage funds.
Tesla Batteries Power UK Energy Storage Plan
The title of this post, is the same as that of this article on The Times.
Britain’s energy problems could be alleviated by a new scheme to build power-storage sites across the UK using batteries produced by Tesla, the electric carmaker.
Six sites will be built by Harmony Energy Income Trust.
- The trust intends to raise £230 million in a stock market listing.
- The trust was registered on the 1st October 2021.
- The batteries will be built in rural locations.
- The sites will use Tesla Magapack batteries and Autobidder software.
- These batteries charge up in two hours and provide energy for two hours.
- The sites are “shovel ready”
- All planning permissions and contracts have been signed.
It would appear that everything is ready to go.
This is a paragraph in The Times article.
The trust is a spin-off from developer Harmony Energy, which found the six sites and obtained the permissions for construction. The developer will retain a minority stake after the listing.
It is also said in the article that two sites at Holes Bay in Dorset and Contego in West Sussex, have already been developed using Tesla batteries.
The Harmony Energy web site lists fifteen wind projects and thirteen battery projects.
- The average size of the battery projects is an output of 44 MW.
- If they can supply that for two hours, the average capacity would be 88 MWh.
The company does appear to be developing smaller batteries than the two established energy storage funds; Gore Street and Gresham House. But then everyone can use their own plan.
Cheesecake Energy Secures £1M Seed Investment
The title of this post, is the same as that of this Press Release from Cheesecake Energy.
This is the first paragraph.
Cheesecake Energy Ltd (CEL), a Nottingham, UK-based energy storage startup today announced it has raised £1M in Seed funding to fuel the development of its manufacturing capabilities and support product development of its eTanker storage system. The round was led by Imperial College Innovation Fund alongside prominent investors including Perivoli Innovations, former Jaguar Chairman, Sir John Egan and other angel investors.
And the third and fourth paragraphs describe the technology.
The company’s unique technology, dubbed eTanker, takes established compressed air energy storage concepts and revolutionises them by storing two-thirds of the electricity in the form of heat which can be stored at far lower cost. To store the energy, electric motors are used to drive compressors, which deliver high pressure air & heat into storage units. When the electricity is required, the high-pressure air and heat is passed back through the same compressor (but now working as a turbine), which turns a generator to produce electricity. The company believes its system will cut the cost of storing energy by 30-40% and offers a solution that can be used in several sectors including electric vehicle (EV) charging, heavy industry and renewable energy generation.
The startup has filed 10 patents for stationary, medium-long-duration, long-lifetime energy storage technology. It is based on innovative design work by CEL, a spin-out from over a decade of research at University of Nottingham. Employing circular economy principles, truck engines are converted into zero-emission electrical power-conversion machines for putting energy into and out of storage. Its technology brings together the low cost of thermal storage, the turnaround efficiencies of compressed air energy storage, together with the long life and robustness of a mechanical system, making a game-changing technology in a modular containerised package.
It all sounds feasible to me and if I’d have been asked, I’d have chipped in some of my pension.
The system in some ways can almost be considered a hybrid system that merges some of the principles of Highview Power’s CRYOBattery and Siemens Gamesa’s ETES system of heating large quantity of rock. Although, Cheesecake’s main storage medium is comptressed air, as opposed to the liquid air of the CRYOBattery.
One market they are targeting is the charging of fleets of electric vehicles like buses and from tales I have heard about operators of large numbers of electric buses, this could be a valuable market.
I also noted that the Press Release mentions a National Grid report, that says we will need 23 GW of energy storage by 2030. Assuming we will need to store enough electricity to provide 23 GW for five hours, that will be 115 GWh of energy storage.
At present, pumped storage is the only proven way of storing tens of GWh of energy. In 1984, after ten years of construction, Dinorwig power station (Electric Mountain) opened to provide 9.1 GWh of storage with an output of 1.8 GW.
So ideally we will need another thirteen Electric Mountains. But we don’t have the geography for conventional pumped storage! And as Electric Mountain showed, pumped storage systems are like Rome and can’t be built in a day.
Energy storage funds, like Gresham House and Gore Street are adding a large number of lithium-ion batteries to the grid, but they will only be scratching the surface of the massive amount of storage needed.
Note that at the end of 2020, Gresham House Energy Storage Fund had a fleet of 380 MWh of batteries under management, which was an increase of 200 MWh on 2019. At this rate of growth, this one fund will add 2GWh of storage by 2030. But I estimate we need 115 GWh based on National Grid’s figures.
So I can see a small number of GWh provided by the likes of Gresham House, Gore Street and other City funds going the same route.
But what these energy storage funds have proved, is that you have reliable energy storage technology, you can attract serious investment for those with millions in the piggy-bank.
I believe the outlook for energy storage will change, when a technology or engineering company proves they have a battery with a capacity of upwards of 250 MWh, with an output of 50 MW, that works reliably twenty-four hours per day and seven days per week.
I believe that if these systems are as reliable as lithium-ion, I can see no reason why City and savvy private investors money will not fund these new technology batteries, as the returns will be better than putting the money in a deposit account, with even the most reputable of banks.
At the present time, I would rate Highview Power’s CRYOBattery and Siemens Gamesa’s ETES system as the only two battery systems anywhere near to a reliable investment, that is as safe as lithium-ion batteries.
- Both score high on being environmentally-friendly.
- Both rely on techniques, proven over many years.
- Both don’t need massive sites.
- Both systems can probably be maintained and serviced in nearly all places in the world.
- Highview Power have sold nearly a dozen systems.
- Highview Power are building a 50 MW/250 MWh plant in Manchester.
- Siemens Gamesa are one of the leaders in renewable energy.
- Siemens Gamesa have what I estimate is a 130 MWh pilot plant working in Hamburg, which I wrote about in Siemens Gamesa Begins Operation Of Its Innovative Electrothermal Energy Storage System.
Other companies are also targeting this market between lithium-ion and pumped storage. Cheesecake Energy is one of them.
I believe they could be one of the winners, as they have designed a system, that stores both compressed air and the heat generated in compressing it. Simple but efficient.
I estimate that of the 115 GWh of energy storage we need before 2030, that up to 5 GWh could be provided by lithium-ion, based on the growth of installations over the last few years.
So we will need another 110 GWh of storage.
Based on 50 MW/250 MWh systems, that means we will need around 440 storage batteries of this size.
This picture from a Google Map shows Siemens Gamesa’s pilot plant in Hamburg.
I estimate that this plant is around 130 MWh of storage and occupies a site of about a football pitch, which is one hectare.
I know farmers in Suffolk, who own more land to grow wheat, than would be needed to accommodate all the batteries required.
Conclusion
I believe that National Grid will get their 23 GW of energy storage.
Shooter Urges Caution On Hydrogen Hubris
The title of this post is the same as that of an article in the January 2021 Edition of Modern Railways.
This is the first paragraph.
Vivarail Chairman Adrian Shooter has urges caution about the widespread enthusiasm for hydrogen technology. In his keynote speech to the Golden Spanner Awards on 27 November, Mr. Shooter said the process to create ‘green hydrogen’ by electrolysis is ‘a wasteful use of electricity’ and was skeptical about using electricity to create hydrogen to then use a fuel cell to power a train, rather than charging batteries to power a train. ‘What you will discover is that a hydrogen train uses 3.5 times as much electricity because of inefficiencies in the electrolysis process and also in the fuel cells’ said Mr. Shooter. He also noted the energy density of hydrogen at 350 bar is only one-tenth of a similar quantity of diesel fuel, severely limiting the range of a hydrogen-powered train between refuelling.
Mr. Shooter then made the following points.
- The complexity of delivering hydrogen to the railway depots.
- The shorter range available from the amount of hydrogen that can be stored on a train compared to the range of a diesel train.
- He points out limitations with the design of the Alstom Breeze train.
This is the last paragraph.
Whilst this may have seemed like a challenge designed purely to promote the battery alternatives that Vivarail is developing, and which he believes to be more efficient, Mr. Shooter explained: ‘I think that hydrogen fuel cell trains could work in this country, but people just need to remember that there are downsides. I’m sure we’ll see some, and in fact we should because competition improves the breed.’
i think Mr. Shooter may have made several good points.
These are my thoughts.
Creating Green Hydrogen
I haven’t done an analysis of the costs of creating green hydrogen from electrolysis, but I have a feeling, that electrolysis won’t be the only way to create large amounts of carbon-free hydrogen, in a few years.
These methods are currently available or under development or construction.
- The hydrogen tram-buses in Pau have a personal electrolyser, that provides hydrogen at 350 bar.
- London’s hydrogen buses will be provided with hydrogen from an electrolyser at Herne Bay by truck. Will the trucks be hydrogen-powered?
Some industrial processes like the Castner-Kellner process create hydrogen as a by-product.
In Shell Process To Make Blue Hydrogen Production Affordable, I describe the Shell Blue Hydrogen Process, which appears to be a way of making massive amounts of carbon-free hydrogen for processes like steel-making and cement production. Surely some could be piped or transported by truck to the rail depot.
In ITM Power and Ørsted: Wind Turbine Electrolyser Integration, I describe how ITM Power and Ørsted plan to create the hydrogen off shore and bring it by pipeline to the shore.
Note.
- The last two methods could offer savings in the cost of production of carbon-free hydrogen.
- Surely, the delivery trucks if used, must be hydrogen-powered.
- The Shell Blue Hydrogen Process uses natural gas as a feedstock and converts it to hydrogen using a newly-developed catalyst. The carbon-dioxide is captured and used or stored.
- If the local gas network has been converted to hydrogen, the hydrogen can be delivered to the depot or filling station through that gas network.
I very much feel that affordable hydrogen can be supplied to bus, train, tram or transport depot. For remote or difficult locations. personal electrolysers, powered by renewable electricity, can be used, as at Pau.
Hydrogen Storage On Trains
Liquid hydrogen could be the answer and Airbus are developing methods of storing large quantities on aircraft.
In What Size Of Hydrogen Tank Will Be Needed On A ZEROe Turbofan?, I calculated how much liquid hydrogen would be needed for this ZEROe Turbofan.
I calculate that to carry the equivalent amount of fuel to an Airbus A320neo would need a liquid hydrogen tank with a near 100 cubic metre capacity. This sized tank would fit in the rear fuselage.
I feel that in a few years, a hydrogen train will be able to carry enough liquid hydrogen in a fuel tank, but the fuel tank will be large.
In The Mathematics Of A Hydrogen-Powered Freight Locomotive, I calculated how much liquid hydrogen would be needed to provide the same amount of energy as that carried in a full diesel tank on a Class 68 locomotive.
The locomotive would need 19,147 litres or 19.15 cubic metres of liquid hydrogen, which could be contained in a cylindrical tank with a diameter of 2 metres and a length of 6 metres.
Hydrogen Locomotives Or Multiple Units?
We have only seen first generation hydrogen trains so far.
This picture shows the Alstom Coradia iLint, which is a conversion of a Coradia Lint.
It is a so-so train and works reasonably well, but the design means there is a lot of transmission noise.
This is a visualisation of an Alstom Breeze or Class 600 train.
Note that the front half of the first car of the train, is taken up with a large hydrogen tank. It will be the same at the other end of the train.
As Mr. Shooter said, Alstom are converting a three-car train into a two-car train. Not all conversions live up to the hype of their proposers.
I would hope that the next generation of a hydrogen train designed from scratch, will be a better design.
I haven’t done any calculations, but I wonder if a lighter weight vehicle may be better.
Hydrogen Locomotives
I do wonder, if hydrogen locomotives are a better bet and easier to design!
- There is a great need all over the world for zero-carbon locomotives to haul freight trains.
- Powerful small gas-turbine engines, that can run on liquid hydrogen are becoming available.
- Rolls-Royce have developed a 2.5 MW gas-turbine generator, that is the size of a beer-keg.
In The Mathematics Of A Hydrogen-Powered Freight Locomotive, I wondered if the Rolls-Royce generator could power a locomotive, the size of a Class 68 locomotive.
This was my conclusion.
I feel that there are several routes to a hydrogen-powered railway locomotive and all the components could be fitted into the body of a diesel locomotive the size of a Class 68 locomotive.
Consider.
- Decarbonising railway locomotives and ships could be a large market.
- It offers the opportunities of substantial carbon reductions.
- The small size of the Rolls-Royce 2.5 MW generator must offer advantages.
- Some current diesel-electric locomotives might be convertible to hydrogen power.
I very much feel that companies like Rolls-Royce and Cummins (and Caterpillar!), will move in and attempt to claim this lucrative worldwide market.
In the UK, it might be possible to convert some existing locomotives to zero-carbon, using either liquid hydrogen, biodiesel or aviation biofuel.
Perhaps, hydrogen locomotives could replace Chiltern Railways eight Class 68 locomotives.
- A refuelling strategy would need to be developed.
- Emissions and noise, would be reduced in Marylebone and Birmingham Moor Street stations.
- The rakes of carriages would not need any modifications to use existing stations.
It could be a way to decarbonise Chiltern Railways without full electrification.
It looks to me that a hydrogen-powered locomotive has several advantages over a hydrogen-powered multiple unit.
- It can carry more fuel.
- It can be as powerful as required.
- Locomotives could work in pairs for more power.
- It is probably easier to accommodate the hydrogen tank.
- Passenger capacity can be increased, if required by adding more coaches.
It should also be noted that both hydrogen locomotives and multiple units can build heavily on technology being developed for zero-carbon aviation.
The Upward Curve Of Battery Power
Sparking A Revolution is the title an article in Issue 898 of Rail Magazine, which is mainly an interview with Andrew Barr of Hitachi Rail.
The article contains a box, called Costs And Power, where this is said.
The costs of batteries are expected to halve in the next years, before dropping further again by 2030.
Hitachi cites research by Bloomberg New Energy Finance (BNEF) which expects costs to fall from £135/kWh at the pack level today to £67/kWh in 2030 and £47/kWh in 3030.
United Kingdom Research and Innovation (UKRI) are predicting that battery energy density will double in the next 15 years, from 700 Wh/l to 1400 Wh/l in 2-35, while power density (fast charging) is likely to increase four times in the same period from 3 kW/kg to 12 kW/kg in 2035.
These are impressive improvements that can only increase the performance and reduce the cost of batteries in all applications.
Hitachi’s Regional Battery Train
This infographic gives the specification of Hitachi Regional Battery Train, which they are creating in partnership with Hyperdrive Innovation.
Note that Hitachi are promising a battery life of 8-10 years.
Financing Batteries
This paragraph is from this page on BuyaCar, which is entitled Electric Car Battery Leasing: Should I Lease Or Buy The Batteries?
When you finance or buy a petrol or diesel car it’s pretty simple; the car will be fitted with an engine. However, with some electric cars you have the choice to finance or buy the whole car, or to pay for the car and lease the batteries separately.
I suspect that battery train manufacturers, will offer similar finance models for their products.
This paragraph is from this page on the Hyperdrive Innovation web site.
With a standardised design, our modular product range provides a flexible and scalable battery energy storage solution. Combining a high-performance lithium-ion NMC battery pack with a built in Battery Management System (BMS) our intelligent systems are designed for rapid deployment and volume manufacture, supplying you with class leading energy density and performance.
I can envisage that as a battery train ages, every few years or so, the batteries will get bigger electrically, but still be the same physical size, due to the improvements in battery technology, design and manufacture.
I have been involved in the finance industry both as a part-owner of a small finance company and as a modeller of the dynamics of their lending. It looks to me, that train batteries could be a very suitable asset for financing by a fund. But given the success of energy storage funds like Gore Street and Gresham House, this is not surprising.
I can envisage that battery electric trains will be very operator friendly, as they are likely to get better with age and they will be very finance-friendly.
Charging Battery Trains
I must say something about the charging of battery trains.
Battery trains will need to be charged and various methods are emerging.
Using Existing Electrification
This will probably be one of the most common methods used, as many battery electric services will be run on partly on electrified routes.
Take a typical route for a battery electric train like London Paddington and Oxford.
- The route is electrified between London Paddington and Didcot Junction.
- There is no electrification on the 10.4 miles of track between Didcot Junction and Oxford.
If a full battery on the train has sufficient charge to take the train from Didcot Junction to Oxford and back, charging on the main line between London Paddington and Didcot Junction, will be all that will be needed to run the service.
I would expect that in the UK, we’ll be seeing battery trains using both 25 KVAC overhead and 750 VDC third rail electrification.
Short Lengths Of New Strategic Electrification
I think that Great Western Railway would like to run either of Hitachi’s two proposed battery electric trains to Swansea.
As there is 45.7 miles pf track without .electrification, some form of charging in Swansea station, will probably be necessary.
The easiest way would probably be to electrify Swansea station and perhaps for a short distance to the North.
This Google Map shows Swansea station and the railway leading North.
Note.
- There is a Hitachi Rail Depot at the Northern edge of the map.
- Swansea station is in South-West corner of the map.
- Swansea station has four platforms.
Swansea station would probably make an excellent battery train hub, as trains typically spend enough time in the station to fully charge the batteries before continuing.
There are other tracks and stations of the UK, that I would electrify to enable the running of battery electric trains.
- Leeds and York, which would enable carbon-free London and Edinburgh services via Leeds and help TransPennine services. This is partially underway.
- Leicester and East Midlands Parkway and Clay Cross North Junction and Sheffield – These two sections would enable EMR InterCity services to go battery electric.
- Sheffield and Leeds via Meadowhall, Barnsley Dearne Valley and the Wakefield Line, which would enable four trains per hour (tph) between Sheffield and Leeds and an extension of EMR InterCity services to Leeds.
- Hull and Brough, would enable battery electric services to Hull and Beverley.
- Scarborough and Seamer, would enable electric services services to Scarborough and between Hull and Scarborough.
- Middlesbrough and Redcar, would enable electric services services to Teesside.
- Crewe and Chester and around Llandudno Junction station – These two sections would enable Avanti West Coast service to Holyhead to go battery electric.
- Shrewsbury station – This could become a battery train hub, as I talked about for Swansea.
- Taunton and Exeter and around Penzance, Plymouth and Westbury stations – These three sections would enable Great Western Railway to cut a substantial amount of carbon emissions.
- Exeter, Yeovil Junction and Salisbury stations. – Electrifying these three stations would enable South Western Railway to run between London and Exeter using Hitachi Regional Battery Trains, as I wrote in Bi-Modes Offered To Solve Waterloo-Exeter Constraints.
We will also need fast chargers for intermediate stations, so that a train can charge the batteries on a long route.
I know of two fast chargers under development.
- Opbrid at Furrer + Frey
- Vivarail’s Fast Charge, which I wrote about in Vivarail’s Plans For Zero-Emission Trains.
I believe it should be possible to battery-electrify a route by doing the following.
- Add short lengths of electrification and fast charging systems as required.
- Improve the track, so that trains can use their full performance.
- Add ERTMS signalling.
- Add some suitable trains.
Note.
- I feel ERTMS signalling with a degree of automatic train control could be used with automatic charging systems, to make station stops more efficient.
- In my view, there is no point in installing better modern trains, unless the track is up to their performance.
Gore Street Energy’s £60mln Fundraise Significantly Oversubscribed
The title of this post, is the same as that of this article on Proactive Investors.
Surprise! Surprise!
Well not to me! Or I suspect Which!
This article on Which is entitled Solar Panel Battery Popularity Is Booming: Should You Buy One?
I have read the article and it leaves, the overall impression, that the UK population are thinking seriously about adding batteries to their solar panels.
So if the UK population is thinking seriously about personal energy storage, it would be very surprising if professional fund managers weren’t thinking the same.
After all, I did write World’s Largest Wind Farm Attracts Huge Backing From Insurance Giant, over two years ago.
So if we’re operating and commissioning offshore wind farms like these.
- Dogger Bank – 4.8 MW
- Gwynt y Mor – 576 MW
- East Anglia Array – 7.2 GW
- Hornsea – 6 GW
- London Array – 630 MW
- Walney – 1.7 GW
- Whitelee – 539 MW
We’re going to need some humungous batteries to tide us through calm periods.
As I write this post on a Monday afternoon, the UK is generating 11.5 GW of electricity by wind, which is more than we’re generating by biomass, coal and nuclear combined.
This is a quote from Alex O’Cinneide, who is Gore Street Capital’s chief executive, in the Proactive Investors article.
We are looking forward to deploying this capital against our significant global pipeline of 1.3GW and towards the capital expenditure requirements in the company’s existing 440MW portfolio.
Gore Street certainly seem to be expanding, their portfolio of batteries.
Conclusion
The City of London has discovered renewable energy and found a way to fund it, to the benefit of all investors, from the guy with a pension managed by a reputable company to global insurance companies, funds and other companies, who have billions of pounds, dollars or euros, that needs a profitable home.
The next big development will come, when a company like Gore Street goes Giga and decide to fund Gigawatt batteries being developed by the next generation of energy storage companies, like Gravitricity, Highview Power, Siemens Ganesa and Zinc8.
The Anonymous Widower 