Following an impressive £30m investment raise from Zouk Capital and partnership from estate agents Alder King, Bath-based renewable energy firm Green Hedge is poised to expand the production of its battery-energy storage units – with hopes to develop, build and operate them across the UK.
The storage units, which have an exceptionally small land footprint and produce zero pollution, work by charging from the grid and then feeding electricity back again when it is needed. Usually polluting power stations or diesel generators provide the electricity at these times, but with the Green Hedge battery system these peak needs are catered for by the excess energy created at times of less power demand.
Posing significant potential for the production of green energy, once rolled out across the country, the company’s battery projects could store as much energy as that produced by 750 acres of solar panels.
“Energy storage is the key to a low cost, low carbon energy system”
Niels Kroninger managing director of Green Hedge (pictured right) says: “Energy storage is the key to a low-cost, low-carbon energy system. The entire team at Green Hedge are delighted about the investment and look forward to working with Zouk.
“The investment will enable Green Hedge to build out and operate our battery energy storage projects as a first mover. This investment would not have been possible without Zouk’s energy sector expertise and entrepreneurial attitude.”
And as well as receiving this windfall investment and support, the company’s work has been backed by RegenSW – a not-for-profit organisation which promotes renewable energy and energy efficiency in the South West. Green Hedge was covered in its recent report on the growth of energy storage, which was written in partnership with law firm TLT and ethical bank Triodos.
“A UK energy storage sector in excess of 10 GW power capacity in the 2030’s is achievable”
Johnny Gowdy Regen SW’s director comments: “Energy storage technology is developing rapidly, costs are falling, and the flexibility it provides can reduce the need for expensive new energy-generation projects.
“In the short term battery storage projects will tend to focus on rapid response services to support the network. As costs fall, storage will play a key role in providing reserves of energy to balance supply and demand and could become ubiquitous in our homes, workplaces and in transport. A UK energy storage sector in excess of 10 GW power capacity in the 2030’s is achievable.”
Niels adds: “Like a Swiss Army Knife, energy storage can deliver a wide variety of critical services. Unlike a Swiss Army Knife, already today it is cheaper than most alternatives, which means that we look forward to strong deployment without the need for any new subsidies. By making the different revenue streams work together better, BEIS, Ofgem and National Grid could eliminate risks to investors in storage, which in turn could deliver even greater savings to consumers.”