Penso Power and BW Group have partnered to build 3GWh of energy storage capacity in the UK within the next 3-5 years.
Maritime company, BW will provide capital to implement the projects whilst acquiring a significant stake in battery storage project developer Penso Power. The projects include up to 350MW in connection capacity.
Erik Strømsø, MD of BW Renewables and a member of BW Group’s executive committee, will join Penso Power’s board of directors.
Penso Power developed Europe’s largest battery storage system of 100MW at the Minety battery project in Wiltshire, UK. The battery energy storage system (BESS) began operation in July, initially running at 100MW/136MWh and 150MW/266MWh when completed.
The BESS uses both NMC and LFP batteries supplied by Sungrow.
Richard Thwaites, CEO of Penso Power said: “We consider energy storage to be a key enabler of the energy transition. We view the deal— considerably larger than anything else seen in the UK to date— as transformational for ourselves and indeed the UK market”.
The National Grid sees a need for between 34GW and 77GW new wind and solar generation to meet 2030 demand, requiring up to 13GW of new electricity storage to help balance the system.
In its Net Zero Strategy launched this week, the UK government committed an extra £500 million ($689.1 million) in incentives towards innovation projects that aim to develop green technologies such as energy storage.
