NatPower Group, a developer of clean energy infrastructure projects, has committed to investing more than GBP 10 billion (USD 12.82bn/EUR 11.7bn) in the battery energy storage market in the UK.
Their goal is to deploy over 60 GWh of capacity by 2040. The Luxembourg-based company made this announcement on Thursday, stating that the battery deployment will occur in a situation where network operators are unable to keep up with the rapid progress of the energy transition.
According to the proposal, NatPower UK will be working on the development of three battery energy storage parks with a capacity of one gigawatt each, and these projects are anticipated to undergo the planning permission process within this year.
Furthermore, there are plans for an additional 10 projects to be carried out in 2025.
In addition, NatPower is investing over GBP 600 million in the construction of substations to tackle limitations in the energy distribution network.
The expenditure will also cover the development of large-scale solar and wind energy infrastructure, with the announcement of plans for the latter expected later this year.
“We are proud to announce NatPower’s investment plan in the United Kingdom which will give new impetus to the promotion of an energy system fully focused on renewables and will accelerate the country’s path towards achieving net gas emissions greenhouse equal to zero,” said Fabrizio Zago, CEO of NatPower Group.
(GBP 1.0 = USD 1.282/EUR 1.172)
Source NatPower
