Highview Power and Ørsted have completed their joint investigation into how combining the technologies of Liquid Air Energy Storage (LAES) and offshore wind could unlock greater value for investors and consumers.
The results show that there is value in combining offshore wind with LAES to support reducing wind curtailment, increasing productivity, and helping the move to a more flexible, resilient zero-carbon grid, according to Higher Power.
The two companies have carried out analysis of technical performance, route to planning approval, and route to market with a regulatory and economic assessment.
As a result of this study, the companies believe a project can be developed and built aligned with the timeline of an offshore wind farm.
“The successful co-location of Highview Power’s liquid air energy storage with Ørsted’s offshore wind offers a step forward in creating a more sustainable and self-sufficient energy system for the UK. By enabling renewable energy to be stored and used on-demand, we are on an important journey to help to accelerate the UK’s journey towards energy independence and net-zero emissions,” said Richard Butland , CEO at Highview Power.
The partners will submit their findings to the UK Government’s “Long Duration Energy Storage” consultation process.
According to the companies, storage systems will play a crucial role in supporting the stability of the power network and improving the efficiency of the offshore wind farms, encouraging future investment in renewable energy that will boost the UK’s energy and cut consumer bills.
The UK will need up to 100 GWh of energy storage by 2050 according to the estimates from National Grid ESO’s Future Energy Systems Scenario.