Highview Power and Ørsted Collaborate to Unlock Greater Value from the Next Generation of Wind Farms
The two companies will carry out detailed technical analysis and an economic assessment during 2023 that will investigate how combining Ørsted's wind technology with Highview Power's liquid air energy storage can deliver a stronger investment case for future offshore wind projects by reducing wind curtailment, increasing productivity, and helping the move to a more flexible, resilient zero carbon grid.
This partnership comes at a critical moment in the UK’s energy transition – offshore wind will be essential for the UK’s ambition to achieve net zero by 2050 and to achieve this a step-change in the speed and scale of deployment of offshore wind is needed. 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 1.35 TWh of wind energy, which could have powered 1.2 million homes with clean, green energy every day. Over this period, the UK had to rely on £60 billion of gas.
Duncan Clark, Managing Director Offshore and Country Chair UK & Ireland for Ørsted 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.”
Richard Butland, CEO of Highview Power, added: "Our storage and stability technology, combined with Ørsted’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."
Julian Leslie, ESO Head of Networks and Chief Engineer said: “The ESO has a key role to play in tackling climate change by transitioning Great Britain’s electricity system to net zero. Longer duration storage can support a future energy system with high proportions of renewable energy by providing flexible energy supply and demand, and increasing the resilience of energy networks. Industry collaboration such as this is key to ensuring that we achieve enduring technical solutions that are fit for purpose but also maximise value to Britain’s electricity consumers.”
This collaboration is a testament to the power of integrating innovative technologies to drive the energy transition. Highview Power and Ørsted are committed to creating a more sustainable and prosperous future for the UK through the development of cutting-edge renewable energy and storage solutions.