West Burton Energy acquires 2.9GWh Thorpe Marsh Green Energy Battery Storage project from Banks Renewables
West Burton Energy (the “Company”) is pleased to announce that it has acquired the 1.45 GW (2.9GWh) Thorpe Marsh Green Energy Battery Storage project from Banks Renewables (the “Green Energy Project”). The Green Energy Project is one of the largest battery storage systems in the world and is located near Doncaster, UK.
Renewable energy, minerals and property firm The Banks Group launched plans last year to create a new flexible energy storage hub through the reclamation and restoration of part of the former Thorpe Marsh power station site, near Doncaster, UK. The Green Energy Project comprises a 1.4GW project (2.8GWh) to be connected to the national grid and a 50MW project to be connected to the distribution network. Banks submitted planning applications for the Green Energy Project to Doncaster Metropolitan Borough Council earlier this year.
West Burton Energy already operates the West Burton power station and battery energy storage system in Nottinghamshire, UK. As part of West Burton Energy’s growth strategy to provide flexible generation, it has acquired the Green Energy Project and will now take it through the planning process, construction and into operations.
The Green Energy Project could store up to 2.9GWhrs of energy, enough to supply around 340,000 households with electricity for one day, and would be used to ensure reliable and stable electricity grid operation at times of peak demand, thus helping to improve the UK’s energy security over the long term. In particular, it will be able to store renewable power generated during periods of oversupply of renewable electricity, and then release such power into the national electrical network when there is insufficient supply of renewable generation (for example, when it is less windy or sunny).
Richard Dunkley, at The Banks Group, comments:
“We are proud to have identified and proposed a project that could deliver one of the world’s largest battery storage plants providing an invaluable use for part of the derelict former power station.
Thorpe Marsh will utilise the site’s large scale grid capacity to facilitate the increased deployment of renewable energy technologies on the National Grid network, so that more of the energy that we all use in our homes, businesses, schools and hospitals can be generated via our own renewable means and less from unreliable overseas sources.
The response we’ve had from local people, businesses and community leaders over the last year to our ideas was very encouraging and we look forward to seeing West Burton Energy bringing this nationally significant scheme to fruition.”
Morris Van Looy, Chief Growth and Strategy Officer at West Burton Energy, adds:
“Richard and his team have done an excellent job identifying and progressing the Thorpe Marsh energy storage project, a real world leader in its ambition. West Burton Energy is delighted to take over ownership and looks forward to delivering this much needed project to ensure security of supply, maximise the use of renewable energy, and to re-use this former power station site.”
The Banks Group was advised by Rothschild & Co (corporate finance and M&A) and Ashurst (legal) during the transaction. West Burton Energy was advised by Burness Paull (legal).
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