UK regulator Ofgem shortlists 16 long-duration energy storage projects under new cap-and-floor scheme
By
Cameron Murray
Summary
UK energy regulator Ofgem has shortlisted 16 projects for its first long-duration energy storage (LDES) cap-and-floor scheme, designed to de-risk investment in large-scale storage infrastructure. The scheme aims to improve energy security, reduce emissions, and lower system costs as more renewables come online. Among the winners are five battery energy storage system (BESS) projects from Field, totaling 1.6GW/26.8GWh with an average duration of 16.75 hours, including 18-hour lithium-ion systems. The initiative addresses the challenge that LDES projects have long construction timelines and uncertain revenues, making them difficult for the private sector to finance alone.
Source
bskyUK regulator Ofgem shortlists 16 long-duration energy storage projects under new cap-and-floor schemeenergy-storage.newsKey quotes
· 3 pulledThe UK’s LDES Cap and Floor is a global landmark.
The scheme aims to enable the deployment of LDES capacity to improve security of supply, reduced emissions and lower system costs.
Because of the long construction timelines and uncertain revenues, it cannot be left to the private sector alone.
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