Tesla Megapack battery storage units at the completed Contego project, a collaboration between Harmony Energy and FRV. Image: Harmony Energy.
Fotowatio Renewable Ventures (FRV) and Tyler Hill Partners have created a platform to develop, build and operate up to 1GW/2GWh of battery energy storage system projects in the UK.
The platform, RV TH Powertek Limited, is expected to invest up to £1 billion (US$1.14 billion) in the projects over the next five years. The portfolio will total 1GW of power and 2GWh of energy capacity, indicating that most of the systems will have a duration of two hours.
Battery storage developers in the UK are increasingly moving to two hours as projects increasingly derive revenues from wholesale energy trading rather than solely grid ancillary services, a trend Energy-Storage.news has previously reported on. FRV is a case in point, recently…