UK group plans first large-scale liquid air energy storage plant

UK energy group Highview Power plans to raise £400mn to build the world’s first commercial-scale liquid air energy storage plant in a potential boost for renewable power generation in the UK.Rupert Pearce, chief executive of the 17-year-old company, is aiming to wrap up Highview’s largest ever capital raising early next year to build a large-scale project near Manchester by the end of 2024.“We are raising a significant amount of money for the next two or three years,” the former boss of satellite giant Inmarsat said in an interview. “We’re looking for £400mn to take us through the next phase.”Highview Power plans to spend £250mn to construct a storage plant in Carrington that has a 30 megawatts capacity and can store 300 megawatt hours of electricity, enough to supply 600,000 homes with power for an hour. It already has a 5MW pilot plant operating in…

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