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Penso Power Increases Europe’s Largest Battery Storage Scheme to 150 MW

British renewable energy and battery storage provider, Penso Power, extends the Minety battery storage scheme in Wiltshire by another 50 MW. The company is also the originator and developer of the project.

Penso Power has secured land rights, planning permission and a grid connection to add the additional capacity that will be operational in 2021. The Minety project is Europe’s largest battery storage scheme and is scheduled to go into operation in autumn 2020 with an initial capacity of 100 MW.

Shell Energy Europe has signed a major offtake agreement on the original 100MW project, the largest of its kind globally to date, whilst the batteries will be optimized and dispatched by energy tech company and subsidiary of Shell, Limejump. 

Penso Power is currently in discussions with potential offtakers regarding similar arrangements for the 50MW project extension.  The offtake structure de-risks the returns for infrastructure investors while accessing deep and liquid markets to enable the deployment of battery storage at a very large scale. Scale benefits enable the provision of a range of balancing services on a cost-effective basis.

Penso Power's CEO Richard Thwaites said: "Minety is a landmark project for UK battery storage. Its sheer size marks it as the most significant battery storage development in Europe so far, dwarfing other battery developments in scale and ambition. It shows that storage will play a more substantial role in the UK energy market as we continue our path towards Net Zero. Energy storage facilitates a greener electricity system helping balance the intermittency of renewable generation. Our focus on large projects means that we achieve scale benefits on both procurement and deployment costs, while the offtake structure helps us provide superior risk-adjusted returns to our investors."

 

Source: Penso Power | www.pensopower.com
Image: Luminous Energy | www.luminousenergy.co.uk
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