Renewables developer NatPower is investing £10bn to create the UK’s biggest portfolio of battery storage projects, marking a boost for the eco power industry.
Reports in the Guardian reveal that NatPower, a European investment and development start-up founded in 2020, will submit planning applications for three gigaparks, with a further 10 to follow next year.
Battery storage is viewed as crucial to help the country decarbonise its power grid.
NatPower bills itself as “an independent renewable energy development platform” which globally sources “investment grade projects for major energy players”.
The NatPower investment would lead to the construction of 60-gigawatt hours of battery storage, with solar and wind projects also likely to be on the cards, the report says.
Two of the gigaparks will be located in the north of England, and another in the west of England, earmarked for later in 2024.
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Stefano Sommadossi chief executive of NatPower UK, told The Guardian: “To solve the bottlenecks that are slowing the shift to clean energy, we will drive investment into the grid itself, collaborating with grid operators to deliver more than 20% of the new substations required.
“By investing in substations and focusing on energy storage first, we will enable the next phase of the energy transition and bring down the cost of energy for consumers.”
NatPower plans to finance, own and operate some of its projects. It also said it had set aside £600m to invest in new substations.
Last month, Jaguar Land Rover-owner Tata confirmed it was investing £4bn and creating 4,000 jobs in the UK, building the country’s largest electric vehicle battery manufacturing facility.
In 2023, BP acquired full ownership of solar and battery storage developer Lightsource BP.
