A green energy project in South Yorkshire which includes one of the largest battery storage systems in the world is under new ownership.
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.
After gathering feedback on the project plans from local people and businesses through a range of consultation activities, Banks submitted a planning application for the project to Doncaster Metropolitan Borough Council at the start of this year.
But as part of Banks’ evolving position in the renewable energy sector, it has sold the project to independent power producer West Burton Energy, which already operates the West Burton power station and battery energy storage system in Nottinghamshire, UK.
West Burton Energy will now take the project on through the planning process, construction and into operations.
The Thorpe Marsh Green Energy battery storage 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, such as when it is less windy or sunny.
“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.”
Richard Dunkley at The Banks Group
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.
“West Burton Energy’s local knowledge, significant experience in the energy generation and storage sector and access to the capital required to take this nationally-significant project forward makes them the ideal owner.”
Morris Van Looy, Chief Growth and Strategy Officer at West Burton Energy, adds:
“Richard and the Banks team have done an excellent job identifying and progressing the Thorpe Marsh energy storage project, which is 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).