Magnora brings UK BESS portfolio to 200MWh with new project. Image: Getty.
Magnora has added to its solar and battery energy storage system (BESS) projects in the UK, with a 80MW/160MWh BESS project.
It brings the firm's portfolio to 60MW of PV through one project and two BESS projects totalling 200MWh. The new BESS project is situated on brown field land in an industrial area.
The firm stated that it has received a grid connection offer with a grid deposit paid in October. This means the development of the project can continue to be progressed subject to planning approval.
In this sense, the company’s assessment is that due to the location, a relatively low number of surveys will be required and the local authority’s support for green energy projects means there is a fair likelihood the project will receive the greenlight for development.
In August 2022, Magnora entered the UK solar and storage market, with an initial investment into a 60MW solar PV project and a 40MWh Battery Energy Storage System project. It stated it would develop the projects to a Ready-to-Build stage together with its local development partner, and then divest them.
On this, Magnora stated that the progress on the first two projects have been as expected and the projects have received a grid offer and environmental impact assessment (EIA) work has commenced.
Increasing battery storage capacity is a vitally important aspect of the energy transition. With the UK focusing predominantly on intermittent solar and wind energy as part of its transition, sufficient energy storage will be needed to cater for the growing capacity.
According to industry experts, investors are becoming increasingly interested in battery storage as projects become more profitable and cost-effective.
But to maintain the rapid rollout of battery energy storage projects, optimisation and value stacking must be utilised to maintain attractive investment opportunities as the market risks becoming overcrowded, according to a new GridBeyond and Thrive Renewables whitepaper.