Scheduled to begin operations before next March, the storage installation will draw revenues from the National Grid’s Balancing Mechanism, providing stabilisation and demand management to the nation’s power backbone.
Wholly owned by infrastructure investors Quinbrook since 2020, Flexitricity has been at the forefront of Britain’s surge towards management and trading of grid-scale storage. Last November it brought the UK’s then largest battery on to the nation’s grid, lighting up another 50MW installation at Thurcroft, Yorkshire.
The Dundee project’s original developer was bought out by investors JLEN in March. Foresight had acquired JLEN’s advisory mandate in 2019.
Two weeks ago Foresight completed its first outright acquisition of a battery storage asset, co-purchasing with JLEN the 50MW lithium-ion Sandridge Battery Storage project in Melksham, Wiltshire.
Flexitricity’s chief commercial officer Andy Lowe said maximising sales from decentralised storage and generation was crucial to securing returns for investors such as Foresight.
“We’re confident in our ability to offer market-leading value”, Lowe added. “Our portfolio has been growing fast which demonstrates trust from the market, both in Flexitricity and the potential of the industry.”
Britain has an estimated 1GW of grid-compliant storage currently operational. Two years ago Gresham House’s founder Ben Guest opined that the nation will need 10 GW by 2025.
