Published: 3 Mar 2021, 16:03
By:
Andy Colthorpe
Session moderator Carina Radford s law firm White & Case advised on the Neoen-Tesla Hornsdale Power Reserve project in South Australia. Image: Neoen-Tesla.
The battery storage market in the UK has become a viable investment opportunity in just the past few months, even without the backing of long-term contracts for grid services, according to an investment manager in the renewable energy sector.
Jonty Lovell, investment manager at Foresight Group, said that the falling cost of energy storage and the evolution of an industry capable of monetising assets in merchant opportunities have brought the industry into a new phase of economic viability. Lovell was speaking at today’s final day of the Energy Storage Summit 2021 hosted by our publisher Solar Media.
Colocating battery energy storage systems alongside renewables projects will be ‘critical’ to energy networks in the future, and could help level up debt financing.