The backers of a pioneering £300m energy storage plant set for Greater Manchester say it could play a key role in the 海角视频’s net zero transition.
Highview Power has announced it has secured investment from energy giant Centrica and the 海角视频 Infrastructure Bank to build the first commercial-scale liquid air energy storage (LAES) plant in the 海角视频. The consortium says work on the scheme will start immediately with the aim of completing it by early 2026, and says the scheme could support 700 jobs in construction and the supply chain while under construction.
The £300m funding package includes investment from mining and metals giant Rio Tinto, investment group Goldman Sachs, Danish fund KIRKBI, and Mosaic Capital.
GENERAL ELECTION: Take our BusinessLive North West election survey
READ MORE: High voltage specialist Excalon acquired by Renew for £26m
The plant will be used to store excess energy generated by wind turbines, and then can release it when needed and when the turbines are not spinning.
The plant uses that energy to chill and liquefy air before storing it in insulated tanks. When power is needed, the air is heated and expanded and the resulting high pressure gas drives a turbine to generate energy that can be sent out of the plant again. No fuel is burned during the process.
Highview says its plant can store energy for longer than current batteries could. It plans to develop a network of storage plants across the 海角视频, starting in Carrington,to provide a stable supply of green energy to the National Grid.
Most Read
Richard Butland, co-Founder & CEO of Highview Power said: “There is no energy transition without storage. The 海角视频’s investment in world-leading offshore wind and renewables requires a national long duration energy storage programme to capture excess wind and support the grid’s transformation.
“海角视频IB and Centrica and our partners have today backed our ambitious plan to bring renewable energy storage into the 海角视频 economy at scale, liberating the potential of what is both the greenest and by far the cheapest energy source for the 海角视频 economy and provide energy security. Our first project in Carrington will be the foundation for our full scale roll-out in the 海角视频 and expansion with partners to share this British technology internationally.”
Greater Manchester Metro Mayor Andy Burnham said: “My vision is for Greater Manchester to be a leader in the green transition - and Highview Power’s decision to build one of the world’s largest long duration energy storage facilities at Carrington is a huge boost for the region.
"This new plant will deliver renewable energy to homes and business across our region and bring world-leading technology, jobs, skills and investment to Greater Manchester. I’m delighted to welcome Highview Power.”
Chris O’Shea, group chief executive at Centrica said: “The energy transition is an opportunity that could transform lives across the 海角视频. But with a changing energy mix, and more intermittency from renewables, we have to explore new, innovative ways to store energy so our customers have electricity available when the wind doesn’t blow and the sun doesn’t shine. Low carbon storage is an essential part of the solution when looking at how we manage peaks in demand.
“That’s why I’m delighted that Centrica is investing in Highview Power. Not only are we bringing capital to the table to support rollout and expansion, but we’ll be also sharing our expertise on the energy transition and power storage. Through partnerships like this we can manage the challenges net zero might present while providing cleaner, greener power to customers.”
Julian Leslie, director & chief engineer at National Grid, said: “Integrating long duration energy storage into the grid is going to be vital to delivering the 海角视频’s long term energy strategy."
Don’t miss
Nigel Steward, chief scientist at Rio Tinto said: “We believe long duration energy storage can play a critical role in firming renewable energy sources. The investment from us and other partners marks a significant step in helping to build a greener, more resilient and more stable energy infrastructure for generations to come in the 海角视频 and beyond”.
Richard Gnodde, CEO of Goldman Sachs International, said: “We are proud to partner with clients to drive the energy transition, by helping to scale the commercialisation of cutting edge energy storage technologies with financing and trading services”.
Kasper Trebbien, vice president and head of energy transition investments at KIRKBI said: “KIRKBI is dedicated to drive a positive impact on climate challenges through our investments. With this important investment and the dedicated team behind Highview Power, we are looking to support the 海角视频’s first commercial-scale liquid air energy storage facility and play a positive role in the 海角视频’s energy transition. Our investment aligns with our commitment to advance green energy, bolster global renewable energy production, and further mature long duration energy storage solutions.”
Tomas Harju-Jeanty, CEO of Sumitomo Heavy Industries (SHI), said: “As a long-term partner of Highview Power, SHI warmly welcomes today’s announcement, which will cement Highview’s position as the leading provider of long duration energy storage in the 海角视频. Through our license we have a commitment to Highview Power’s innovative liquid air energy storage technology, and we are excited to continue to support the company as it realises its ambitious programme of infrastructure investment.”
Carrington is also set to be home to another green energy hub, aimed at producing green fuel for use in industry and transport.