Econergy Renewable Energy, a renewables investor, intends to build a portfolio of 800 MW of renewable energy storage and 900 MW of solar photovoltaic (PV) capacity in the UK over the next three years. The company intends to build 350 MW of energy storage capacity for operation in 2023, 300 MW in 2024, and 150 MW in 2025. It also plans to develop 900 MW of solar PV projects by early 2025.
Econergy has purchased a 50 MW storage project in Yorkshire, northern England, from UK renewables developer Yoo Energy for an undisclosed sum as a first step. Econergy is a Tel Aviv-based company that develops solar PV, wind, and storage projects in Europe, including the UK, Italy, Spain, Romania, and Poland. It is currently developing 6 GW of projects across Europe.
In December 2021, Sembcorp Energy UK revealed plans to create a large battery energy storage system in the UK. The 360 MW battery will be deployed at its Wilton International site in Teesside as part of the company’s increasing battery storage portfolio. This and other such battery installations will help to ensure the power network’s resilience thereby allowing for the continued growth of renewables.
REGlobal’s Views: As energy storage becomes a critical part of energy value chain to address renewable energy intermittency and provide grid stability, large developers like Econergy prefer to develop energy storage capacity along with the development of their solar capacity, as an equally important project.