Highview Power has proven them wrong by closing a successful funding round of £130 million. This funding will enable them rolling out the first stage of their 3.2GWh long-duration energy storage facility in Hunterston, Scotland. This extensive monetary support represents a key turning point for the firm. Lastly, it will improve overall grid stability and help transmit renewable energy from Scotland’s many generation hotspots to centres of high demand efficiently.
The project, known as a “stability island,” is intentionally focused on some key, emerging challenges tied to grid stability. Highview’s chief executive, Richard Butland, said he was optimistic about the funding. He thinks it will help the company grow their long-duration energy storage project at Hunterston. The first part of the project is anticipated to be in service by January 2028, with the full facility scheduled for finishing by 2030.
Strategic Location and Technological Innovation
Highview’s facility will see the first integration of a hybrid LDES system, with liquid air energy storage (LAES) paired with lithium-ion batteries. This structure will bring much-needed inertia, short-circuit protection and voltage support to the UK power network. It will save costly renewable energy curtailments too. The facility’s strategic location will help to ensure that wind energy is harnessed most effectively across the whole of the UK. Perhaps best of all, it addresses the ever-present problem of intermittency in wind production.
Butland was positive about the impact that this project would have for both Highview and the developing green economy of the UK.
“This capital raise is an important milestone for Highview, enabling us to build out the first phase of our long-duration energy facility at Hunterston. By delivering much-needed grid services in this location, our stability island asset will prevent costly curtailment and maximise the renewable energy that we generate in the UK. Through the delivery of this phase and building on the lessons learned at our Carrington facility, we are also developing and strengthening our UK supply chain.” – Richard Butland, Highview chief executive
Job Creation and Economic Impact
Their proposal includes providing job training specific to the industries expected to occupy the facility. It will support an estimated 650 supply chain jobs during all stages of the project. In doing so, this initiative increases job opportunities and fosters economic development all across the country. It achieves this by promoting the creation of green energy jobs training programs.
Mark Munro explained that with Scotland’s renewable generation expected to double by 2030, the grid resilience will need to be improved significantly.
“Wind production curtailment and intermittency continue to be challenges across the supply chain. As Scotland scales its renewable energy production, it’s critical that grid resilience is fortified so that more of it can be used.” – Mark Munro
Supporting Future Projects
Congratulations to Highview, who recently closed a new $10M funding round! This round strengthens the company’s overall funding for its storage technology to more than £500 million. This new financial injection further accelerates the Hunterston project. It has opened the door to further big moves, creating confidence within the UK’s green economy. By using the stability island concept, we can ensure a more reliable, dependable and stable energy distribution. It will only grow in importance as renewable resources take center stage.