EDP Renewables secures its first stand-alone battery storage project in Europe
Acquired from Tupa Energy, the project will provide 2 hours of storage capacity and will contribute with 50 MW of capacity. With this project, the company will support the grid resilience by providing stability and reliability and will allow for an increased penetration of renewables in the generation mix.
EDP Renewables (Euronext: EDPR), a leading global wind and solar producer, will install its first stand-alone Battery Energy Storage Systems (BESS) project in Europe, based in the United Kingdom. This milestone represents a strategic move in optimizing resources and improving energy efficiency.
The project will contribute with approximately 50 MW of capacity to the power grid and will provide 2 hours of storage capacity. The asset will play a crucial role in grid management, offering flexibility and supporting the government’s strategy for renewable energy in the UK.
This first storage system developed by EDPR will be located in Kent, England, and has been acquired from Tupa Energy, a British company specializing in utility-scale battery storage, as well as other technologies (such as solar). This project is expected to become operational by the end of 2024.
“The integration of storage systems will play a crucial role in the renewable energy mix of the future, as it will contribute to address the challenge of intermittency. By mitigating the impact of external factors that can affect availability, these systems are key in overcoming one of the main limitations faced by renewables across Europe, while producing no emissions”, said Miguel Stilwell d’Andrade, CEO of EDP and EDPR.
EDPR places a high priority on energy storage as part of its long-term strategy. The company anticipates significant growth in this technology, particularly through various initiatives planned in the United Kingdom.The UK stands out as the most advanced market in Europe for the development of battery storage assets, leveraging a comprehensive regulatory framework. This includes a Capacity Market that provides a fixed floor with a 15-year tenor. Currently, the country already has 2.2 GW of battery projects connected to the grid, with an additional 2 GW under construction.
EDP Renewables remains dedicated to advancing energy efficiency on a global scale. In its updated Business Plan for 2023-2026,the company aims to achieve a storage capacity of over 500 MW, primarily through co-located assets, with a smaller portion consisting of stand-alone assets such as the recently acquired project. EDPR also has nearly 200 MW of contracted storage capacity in North America and over 4 MW under construction in the Asia-Pacific region.