Highview Power and Orsted have signed a memorandum of understanding (MoU) aiming to prove the feasibility and economic value of co-locating long duration energy storage with offshore wind.
The two companies will carry out detailed technical analysis and an economic assessment during 2023 that will investigate how combining Orsted’s wind technology with Highview Power’s liquid air energy storage can deliver a stronger investment case for future offshore wind projects.
This might be by reducing wind curtailment, increasing productivity, and helping the move to a more flexible, resilient zero carbon grid.
Storage systems will play a crucial role in supporting the stability of the power network and improving the efficiency of wind farms, encouraging future investment in renewable energy that will boost the UK’s energy security and cut consumer bills.
The lack of renewable energy storage during peak conditions this winter meant that the UK was unable to store as much as 1.35TWh of wind energy, which could have powered 1.2 million homes with clean, green energy every day, the pair said.
Over this period, the UK had to rely on £60bn of gas, they added.
Managing director offshore and country chair UK & Ireland for Orsted Duncan Clark said: “We believe that energy storage will play a pivotal role in a world that runs entirely on green energy.
“Our collaboration with Highview Power is an important step in creating effective energy storage solutions that unlock greater value from next generation wind farms and support the evolution of our power grid.
“Together our technologies can be a catalyst to accelerate the transition from fossil fuels to renewable energy and help unlock the economic potential of that transition for the UK.”
Highview Power chief executive Richard Butland added: “Our storage and stability technology, combined with Orsted’s wind technology, will play a critical role in creating a more sustainable and self-sufficient energy system for the UK.
“By unleashing the full potential of renewable energy and enabling it to be stored and used on-demand, this collaboration will help to accelerate the UK’s journey towards energy independence and net-zero emissions.”