In a landmark move, Highview Power has initiated a pioneering renewable energy project in Carrington, Manchester, which is set to fast-track the UK's efforts to achieve a net-zero carbon footprint. The project has garnered a substantial £300 million investment, chiefly backed by the UK Infrastructure Bank (UKIB) and Centrica, a leader in the energy sector. This funding marks the beginning of the first commercial-scale liquid air energy storage (LAES) plant in the UK, propelling the nation towards enhanced energy security.

Strategic investment to pioneer long duration energy storage

The investment round, led by UKIB and Centrica, also saw participation from a diverse group of investors including Rio Tinto, Goldman Sachs, KIRKBI, and Mosaic Capital. This financial injection is crucial for constructing one of the largest long duration energy storage (LDES) facilities in the world. Utilizing Highview Power’s proprietary LAES technology, the Carrington plant will boast a storage capacity of 300 MWh and an output power of 50 MW per hour over six hours. The construction of this facility is set to begin immediately, with expectations to be operational by early 2026. This project will support over 700 jobs in construction and related supply chains.

UKIB's role in mobilizing private finance

The UK Infrastructure Bank's investment underscores its vital role in mobilizing private finance to support first-of-its-kind technologies. These technologies are essential for the UK's transition to net zero, promoting regional and economic growth. Through this strategic funding, UKIB is facilitating commercial-scale technological advancements critical for energy transformation.

Centrica: a strategic partner in the UK’s energy transition

As Highview Power’s strategic partner, Centrica is significantly contributing to the UK's energy transition. With a £70 million investment, Centrica is pivotal in accelerating the deployment of LAES technology across the UK. This partnership is expected to set a global benchmark for energy storage systems, positioning the UK as a leader in energy storage and flexibility.

Expanding the frontier of energy storage

Following the Carrington project, Highview Power plans to commence the planning of four additional larger scale 2.5 GWh facilities. These facilities, anticipated to involve an investment of £3 billion, will be strategically located across the UK to ensure a rapid deployment aligned with the UK's LDES support mechanisms and the ESO’s Future Energy Scenario Plans.

Innovative technology with broad implications

Highview Power's LAES technology, developed over 17 years in the UK, represents a significant advancement in energy storage, capable of storing renewable energy for several weeks — surpassing traditional battery technologies. This technology not only provides stability services to the National Grid but also supports the long-term replacement of fossil fuel-based power plants.

Economic and environmental benefits

This ambitious infrastructure program is expected to drive substantial economic growth, requiring over £9 billion in investments over the next decade, potentially creating over 6,000 jobs, and adding billions of pounds to the UK economy. Moreover, it will enhance the utilization of green energy, reduce energy bills, and provide greater energy stability and security.

Leadership commentary

Richard Butland, Co-Founder & CEO of Highview Power, emphasized, "There is no energy transition without storage." He highlighted the critical role of the UK's investment in renewable energy storage to complement the nation’s leading offshore wind capabilities and support the grid's transformation.

Chris O’Shea, Group Chief Executive of Centrica, expressed enthusiasm about the transformative potential of the energy transition. He stressed the importance of innovative energy storage solutions in managing demand peaks and ensuring reliable power supply amidst increasing renewable energy intermittency.

Through these efforts, Highview Power and its partners are not just bolstering the UK's energy infrastructure but are also setting the stage for a sustainable, economically viable energy future.