The Anonymous Widower

Gore Street Energy Welcomes Green Light For Larger Battery Projects In England And Wales

The title of this post, is the same as that of this article on Proactive Investors.

These are the introductory paragraphs..

Gore Street Energy Fund has welcomed legal changes to allow battery projects larger than 50MW in England and 350MW in Wales.

The new legislation removes energy storage, except pumped hydro, from the Nationally Significant Infrastructure Projects regime in England and Wales, said the fund.

This will allow larger projects to receive planning permission without government approval.

I can see why they are pleased, as it removes a level of bureaucracy.

I suspect companies like Highview Power will also be pleased as 50 MW is at the lower end of their battery range.

July 20, 2020 Posted by | Energy Storage | , | Leave a comment

Japan A ‘Very Interesting Market’ For Gore Street As It Becomes An ‘Enabler’ Of JXTG’s Transition

The title of this post, is the same as that of this article on the Solar Power Portal.

This is the introductory paragraph.

London Stock Exchange-listed energy storage fund Gore Street has outlined how it sees Japan as a “very interesting market” following its investment from JXTG Nippon Oil & Energy Corporation.

I like Gore Street’s philosophy and its execution.

I am not an investor and probably never will be, but they seem to be based on sound principles and do their modelling well. I’ve built enough large financial models to know a good one from its results.

Gore Street is normally investing in lithium-ion batteries.

  • These batteries now have a predictable reliability profile and I suspect cash-flow from owning a battery is fairly predictable.
  • The control and monitoring software will get better as time goes by and these batteries will probably update themselves automatically.
  • They probably aren’t that affected by COVID-19, as lockdown still needs energy to be balanced and these batteries are probably performing as normal.
  • The heat of the last few weeks probably caused more grief than COVID-19.
  • If a site visit is necessary, they can probably be done with one man in a van with a key to the security system. So maintenance is probably easy to do, whilst maintaining social distance.

I also liked this paragraph from the article.

, Gore Street Capital CEO, Alex O’Cinneide, said that the fact that the deregulation of the Japanese market over the next few years makes it of interest to the company, alongside it having the same characteristics of the UK in terms of the decommissioning of coal, nuclear and gas and increasing levels of renewables.

Could Gore Street Energy Fund, be a safe investment for today’s difficult times?

 

July 2, 2020 Posted by | Energy, Energy Storage, Finance, Health | , , , | Leave a comment

Do We Need A UK Lithium-Ion Battery Factory?

My post, Gore Street Acquires 50MW Ferrymuir Battery Project, Eyes More In Scotland and the article on the Energyst with the same name, got me thinking.

It was this statement about Gore Street Energy Fund, that really started the thought.

The fund said the addition takes its portfolio built or under development to 293MW and added that is has options for a further 900MW.

Gore Street obviously have the money to build all of this energy storage.

  • I have also looked at some of their projects on Google Maps and there are still plenty of sites on green- or brown-field land close to electricity sub-stations, where energy storage would be easy to connect.
  • I suspect, they have some good engineers or electricity marketing specialists available.
  • My worry, would be, with many countries going the energy storage route, is there enough capacity to build all the batteries we need.

We have three routes, we could easily take in this country.

  • Convert suplus energy to hydrogen using electrolysers from ITM Power in Rotherham.
  • Develop some BALDIES (Build Anywhere Long Duration Intermittent Energy Storage). British technology is available as the CRYObatteryfrom Highview Power, who signed to build their first full-size plant in the UK, last week.
  • Build a lithium-ion battery factory. Preferably of the next generation, so that battery vehicles will go further on a charge.

It is my view, that we should do all three!

Will Gore Street, add a BALDIES to their portfolio of lithium-ion energy storage.

I think the decision makers at Gore Street would sleep comfortably in their beds if they bought a CRYObattery for a location, that needed a larger battery.

Conclusion

As to the answer to my question, the answer is yes, as mobile application will need more and better batteries and on balance, we should have our own supply.

 

 

June 24, 2020 Posted by | Energy Storage | , , , | 2 Comments

Gore Street Acquires 50MW Ferrymuir Battery Project, Eyes More In Scotland

The title of this post, is the same as this article on The Energyst.

This is a paragraph.

The Ferrymuir project in Fife, Scotland, has all connections and consents in place. Gore Street hopes to commission it in 2022.

 

It looks like it just needs the money to fit it out.

Judging by the numbers quoted for Gore Street in the article, it looks like a lot of fund managers and people with money, are putting money into energy storage.

June 24, 2020 Posted by | Energy Storage | | 1 Comment

Gore Street Contracts NEC For 100 MW Of Storage

The title of this post is the same as that of this article on the Solar Power Portal.

This is the introductory paragraph.

Gore Street Energy Storage Fund has awarded NEC Energy Solutions both EPC and long-term O&M contracts for 100MW of storage in Northern Ireland.

What I find most comforting, is the matter-of-fact tone of the article.

Although, the author does seem to think that MW and MWh are the same, when in fact MW is used to define the rate of energy used or transferred and MWh the quantity.

If you use one MW for an hour, that is one MWh.

Gore Street appear to have needed two 50 MW energy storage systems for Drumkee and Mullavilly in Northern Ireland to back up a solar farm investment.

And they appear to have just ordered them off the shelf from NEC, in much the way, an individual might buy a Tesla Powerwall for their house.

According to this article on OVO Energy, the average European house uses 3,600 kWh per year.As there are 8760 hours in a year, the average consumption for a year is 0.4 kW per hour.

So if we assume that these two energy storage systems can deliver 50 MW for an hour, the following can be said.

  • The total capacity of each system is 50 MWh.
  • Each system can supply  125,000 houses for an hour or 25,000 houses for five hours.
  • As each housing unit has an average occupancy of 2.66 people, this means that a 50 MWh battery could supply a town of 66,500 people, for five hours.

Note that Lowestoft in Suffolk has a population of 71,000.

These batteries are not small.

January 11, 2020 Posted by | Energy Storage | , | Leave a comment

19MW Storage Capacity To Participate In Three UK Flexible Markets

The title of this post is the same as that of this article on Smart Energy.

in Batteries On The Boil As Fund Attracts Investors, I talked about energy storage funds, which are a way of investing in energy storage to add capabilities to electricity grids.

This article talks about how the Gore Street Energy Fund is investing in two energy storage facilities at the Port of Tilbury and Lower Road in Essex

I have also found this article on Solar Power Portal, which is entitled Gore Street Fund Makes New Battery Acquisitions With New 19MW Pair From Origami Energy.

The second article has a picture of a 4 MW/4.8 MWh Tesla battery at Cenin Renewables.

The link to Tesla gives a well-presented page of applications of these batteries.

One example given is Renewable Integration, where this is said.

Smooth and firm the output of a renewable power generation source such as wind or solar.

This will be a large application for these types of large batteries, as although we don’t have masses of sun, we do have a lot of wind.

Big financial institutions like Pension Funds and Insurance Companies need secure long term investment to place their money and these energy storage devices, would appear to offer a sensible return, that enables them to pay their investors, like anybody who has a pension. Traditionally,these financial institutions have invested in property and government bonds for example.

Lately, they have been investing in railway rolling stock, which have a life of up to forty years. These energy storage systems should offer a reasonable life, if well-maintained and updated.

As there will large numbers of energy  storage systems installed in the UK in the next decades, I think they could be a big area for investment.

At an individual level, we will also see houses built or refurbished with solar panels and batteries.

We are at the start of an exciting revolution!

 

November 24, 2018 Posted by | Energy, Energy Storage | , , , | Leave a comment

Batteries On The Boil As Fund Attracts Investors

The title of this post is the same as that of an article in the Business section of today’s Times.

This is the first two paragraph.

Investors have sunk £100million into a new listed company that aims to use shipping containers packed with lithium-ion batteries to buy, store and sell electricity.

Gresham House Energy Storage Fund claims that it will make a return of 15 per ceent a year by providing electricity when surges in demand coincide with periods when the wind is not blowing  or the sun is not shining.

Gresham House Energy Storage Fund is the second listed energy storage fund in London, after Gore Street Energy Storage Fund , launched in May.

I think we’ll see more of these funds and use of the technology.

Suppose you were a farmer with a windy hill top farm, that had a heavy electricity bill.

Realistically, sized, priced and financed a  wind-turbine and a container full of batteries, might be just what your finances wanted.

All you’d need now would be an electric Range-Rover and a fleet of electric tractors!

November 10, 2018 Posted by | Energy, Energy Storage | , , , | 2 Comments