Long Duration Electricity Storage (LDES) is an increasingly important part of our energy system. NESO advice shows we need to increase the amount of storage on the system over the next few years. These assets let us capture energy from excess renewables when the wind is blowing and sun is shining and store this for when customers need it.
Ofgem has designed and is running its first ever window for cap and floor support to encourage the development of LDES projects, applying the successes of the similar schemes we have run for many years to encourage the development of interconnectors to other countries.
We were pleased with the very strong set of applicants we received for Window 1 with over 70 projects of nearly 30 GW participating in the Project Assessment. We have completed a thorough project assessment to select the best projects to meet system need. We are pleased to set out the results of that assessment today, with a varied portfolio of projects which we are minded-to support to ensure we are developing the clean power system for the future.
Beatrice Filkin
Director of Major Projects
Ofgem
Read the full document… https://consult.ofgem.gov.uk/energy-generation/ldes-window-1-minded-to-decision/supporting_documents/ldes-window-1-minded-to-decisions-consultationpdf
Thanks to u/Intrepid-Pen-3112 for the heads up on this!
Ofgem: Window 1: Minded-to decisions – Long Duration Electricity Storage
by u/_DoubleBubbler_ in InvinityEnergySystems
Just one potential VFB ’Cap and Floor’ scheme project included. Despite that Invinity have won some notable contracts so I think the overall direction of the business is still positive even if this news is greatly disappointing. We will just have to see which if any of the potential C&F projects not included in the ‘Minded-to decision’ list proceed regardless.