Construction UK Construction Directory
Time and date
CONSTRUCTION DIRECTORY
Share this page
Construction News
14/10/2024

SSE Welcomes Scheme To Unlock Investment In Long-Duration Electricity Storage

Construction News Image
SSE has welcomed announcement by the UK Government confirming its decision to finalise and implement a cap and floor investment framework to support the deployment of long-duration electricity storage projects, such as pumped storage hydro.

The decision follows the completion of a consultation on a proposed cap and floor framework by the Government that commenced in January 2024. An appropriately designed cap and floor scheme will provide a revenue stabilisation mechanism aimed at unlocking significant private investment in long duration electricity storage projects in the UK, in the same way it has unleashed investment in electricity interconnectors.

SSE is progressing its flagship pumped storage hydro Coire Glas project in the Scottish Highlands which could deliver up to 30GWh of storage capacity if built, doubling the total electricity storage capacity in Great Britain today. When commissioned, it would become the UK's largest natural battery, providing vital back up for renewable power.

SSE Renewables hopes to make a final investment decision on the 1.3GW project pending successfully securing a cap and floor agreement in an appropriately designed scheme.

-- Advertisement --
hss

Robert Bryce, Director of Hydro, SSE Renewables, said: "The announcement on a cap and floor investment framework is a massive step forward in delivering more of the flexible homegrown energy the UK needs in our transition to net zero.

"SSE's Coire Glas has the potential to be at the forefront of delivering much needed large-scale long duration electricity storage – providing vital back up to an increasingly renewables-led system and bolstering energy security.

"The flagship project in the Scottish Highlands can shift the dial on pumped hydro storage – harnessing the power of wind and water to become Britain’s biggest natural battery, storing excess renewable energy at times of low demand and supporting a future clean electricity system with instant power.

"We now need to harness momentum from this decision and accelerate at pace with a clear timetable to implement the new framework so clean energy investors like SSE can take positive decisions to unlock investment in these nation building projects. SSE will continue to work closely with Government and Ofgem as the regulator and delivery body to support a speedy implementation so we can unlock investment in Coire Glas and other large scale storage projects to secure the benefits to UK consumers and society that they bring."

Delivery of the Coire Glas project is expected to be one of the biggest civil engineering projects in the Scottish Highlands since the 1943 Hydro Electric Development (Scotland) Act kickstarted the construction of major hydro-electric schemes across Scotland over 80 years ago. Main construction would be expected to last up to seven years, and at peak delivery the project would create up to 500 full time construction roles, delivering a massive economic boost to the Highlands and wider Scottish economy.

Pumped storage hydro is the world’s largest, most proven, and cost-effective long-duration electricity storage technology. Its deployment will help reduce the UK’s reliance on imported gas and provide vital energy balancing services to the grid, not just for instant response but also for longer periods, up to days at a time if needed, when renewable energy may not be available. As a result, pumped storage hydro is a critical enabling technology for the wider deployment of the renewable energy the UK needs.

Latest Construction News

29/11/2024

Helmsley Group secured planning permission for the final part of its Coney Street Riverside masterplan which will bring much needed residential space to the city and realise a 50-year ambition to reconnect York to its riverfront. With work expected to start in the summer of 2025, this approval ...
29/11/2024

Network Space Developments (NSD) has received planning approval from Manchester City Council for a major redevelopment project at its Welcomb Street site in Openshaw, Manchester. The four-acre site, acquired by NSD in 2022, will be transformed into an extension of the adjacent City Works Business ...
29/11/2024

Work has commenced on a new lighting scheme designed to create brighter streets in Digbeth, close to HS2's Birmingham Curzon Street station. The Birmingham City Council project – funded in part through a £210,140 investment from HS2's Business and Local Economy Fund (BLEF) – will see the ...
29/11/2024

Building work has commenced on 14 new modern one-bedroom apartments at Ludwick Green in Welwyn Garden City. The apartments are being developed as part of Welwyn Hatfield Borough Council's (WHBC) Affordable Housing Programme, and its commitment to building new social and affordable homes. Ludwick ...
29/11/2024

River Capital has invested £500,000 in Liverpool-based M&E engineering consultancy, Steven A Hunt & Associates Ltd. The funding was structured to facilitate a management buyout (MBO) by the senior management team of Neil Baines, Anne King, Dave Kelly and Dominic Sibbring from founder Steven Hunt, ...
29/11/2024

Henley Restoration and Remedials has been chosen to carry out extensive external and structural repairs on the Grade II-listed Phoenix Mill, the oldest building in the Rutland Mills complex. Originally a grain store, Phoenix Mill later became a corn mill in the 19th century before transitioning ...
29/11/2024

Dorset County Council's North East Technology Park (NETPark) has been allocated over £11 million towards its expansion. The North East Combined Authority's Cabinet has approved £11.3m of funding for the Sedgefield site from its £160m flagship North East Investment Zone (NEIZ), which aims to drive ...
29/11/2024

Laing O'Rourke, in collaboration with Barnsley College and T3 Training & Development, have opened the UK's first dedicated modern methods of construction (MMC) training facility. The first of its kind training centre represents a groundbreaking step in addressing the UK's construction skills ...
29/11/2024

Aqua Direct are keen to share their support for the Urgent Funding campaign from St Giles Hospice. With a national hospice funding crisis, they need your support more than ever ...
29/11/2024

As we approach the end of 2024, we have been reflecting on what an action-packed year it has been. We have worked with some fantastic clients and sites across the country. We started from our base in Essex over ten years ago, and the demand for trackway has certainly been at its highest ...
Lakeside HireAqua Direct LtdEfco UK LtdBRICOFLOR UKT & D Glazing And Installation LimitedThink Construction Skills Ltd.Stuart CanvasOracle Storage Systems LtdLoft Boarding MidlandsMASON U.K. Ltd
Terms and Conditions
2024/11/29 21:30:09