A new hydropower energy revolution is under way in Scotland and it is set to accelerate.
The new Labour UK Government was praised for sticking to plans to underwrite the risk of building Scotland’s £1 billion apiece hydro energy storage sites within its first 100 days, a move described as "a critical step forward".
This week, we revealed that a new framework for which the industry has been calling and which aims to assist energy storage projects is unveiled.
The Department for Energy Security and Net Zero said that the UK is "a step closer to energy independence" with the launch of the much-anticipated new scheme to help build energy storage infrastructure.
The industry said an economic support mechanism is essential to secure the work being undertaken and future investment.
It is claimed the investment support scheme announced will "boost investor confidence and unlock billions in funding for vital projects which will help create thousands of jobs and deliver clean power as the country accelerates to net zero".
Michael Shanks, the new UK Energy Minister and Rutherglen MP, said: "We’re reversing a legacy that has seen no new long duration storage built for 40 years - and taking steps to unleash private investment in both established and new technologies.”
Of course, energy is a reserved matter but for exceptions and an element of watching from the sidelines is inevitable as such.
Alasdair Allan, Lothian MSP and acting Minister for Climate Action in Scotland, said that "whilst the UK Government's proposals for a cap and floor mechanism for long-duration electricity storage are welcome, it is vital they continue to engage with industry to ensure the finer details."
Ian Kinnaird, Drax’s Scottish assets director, said the announcement "is a critical step forward to removing one of the key hurdles developers face in building a new generation of pumped storage hydro plants".
He said: "I would like to thank the new Government for moving at speed to do this within their first 100 days in office."
Mark Wilson, chief executive of Intelligent Land Investments (ILI), said the announcement "is fantastic news for the UK's energy sector".
He said: "This policy is a game-changer that addresses a crucial need in our transition to a net zero economy. It will accelerate investment in flexible pumped storage hydro that can help deliver decarbonisation faster, and ensure power system resilience.
"This commitment signals a real step-change in approach.
Pumped storage hydropower energy is at the heart of energy storage plans in Scotland with large-scale project under way or in planning across the country, including at Loch Ness, Loch Lochy, and Loch Awe.
READ MORE:
- Part One: Scotland powers towards new hydro energy revolution
- Part Two: Entrepreneur sells £1bn Scottish hydro plan to energy giant
- Part Three: Hidden cost of building Scotland's new energy powerhouses
The technology works like giant batteries by storing renewable energy and releasing it onto the grid and into homes when needed.
Our three-part series has examined the technology and the process of how the giant projects are to come to fruition.
The company behind Red John, now known as Loch na Cathrach, at Loch Ness, is one of those creating the next massive energy powerhouse plan at Balliemeanoch at Loch Awe.
The Loch Awe project will be one the biggest in Europe and is currently being considered by the Scottish Government, SSE is testing one at Loch Lochy that would be one of the largest in the UK in the 40-year hiatus it is claimed was caused by a lack of a standard mechanism of support, and the former Red John, which could be ready by 2030, has been sold to European giant Statkraft.
READ MORE:
- All you need to know about the new hydro energy revolution
- European energy giant hails Scottish hydro 'renaissance'
- Questions around Scotland's new energy storage parks
Renewables entrepreneur Mr Wilson, of ILI, at the head of the push, told in an exclusive interview how he became an overnight millionaire with the sale of a vast energy storage facility near a famous Scottish loch.
The Lanarkshire-based businessman banked a considerable fortune at the age of 50 with the sale of a power plant plan to Europe's largest generator of renewable energy.
Mr Wilson this time last year sold Loch na Cathrach to Statkraft, which is owned by the Norwegian state.
On day three in today’s print edition and online, we look at concerns around energy storage in Scotland in future, including around safety and ethical sourcing issues related to lithium battery parks.
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