Centrica-backed Highview Power announces major investment into new power plants
Highview Power, an energy provider backed by British Gas owner Centrica, has announced a major investment into new power plants to help the UK achieve its net zero goals by 2030. The announcement comes following the launch of the Department for Energy Security and Net Zero’s (DESNZ’s) new investment support scheme last week. Highview Power, [...]
Highview Power, an energy provider backed by British Gas owner Centrica, has announced a major investment into new power plants to help the UK achieve its net zero goals by 2030.
The announcement comes following the launch of the Department for Energy Security and Net Zero’s (DESNZ’s) new investment support scheme last week.
Highview Power, a long-duration energy storage (LDES) tech provider, plans to develop four new 2.5GWh power plants across the UK by 2030.
The four plants will be divided between Scotland and England, with two plants located in each.
Earlier this month, Highview Power raised £300m from the UK Infrastructure Bank, Centrica and others to build a new liquid air energy storage facility in Manchester.
“Highview Power is an example of how the UK government’s investment support scheme enables the country’s future energy security and economic growth,” Richard Butland, chief executive of Highview Power, said.
Butland added: “This funding will unlock 10 GWh of storage capacity, delivering over 10 per cent of the UK’s targets for non-battery storage.
“Our technology will be one of the first to benefit from the scheme, powering the UK to meet its 2030 targets.”
Two of the four plants are meant to deliver more battery storage than currently exists in the UK, with the use of 40-year lifespan sustainable technology.
The firm said the addition of these plants will further help the government achieve its net zero target by 2030.
Chris O’Shea, chief executive of Centrica, said LDES is “vital” for the UK to achieve its net zero goals, with Highview Power’s technology paving the way.
The Centrica boss added: “The UK is fortunate to have a range of low carbon storage options and the good news is that this cap and floor model can easily be utilised for other energy storage technologies too.
“Storage is an essential part of the solution when looking at how we manage peaks in demand and store the abundance of renewable energy generated across the UK.”
