British businesses provided with option of battery storage

Medium and large energy users in the UK private sector have been offered access to battery storage installations, at no extra cost, under a new joint venture.

Eligible businesses will gain access to battery storage facilities jointly installed and operated by investment firm Thrive Renewables and renewable project developer Aura Power, in exchange for a share of their revenues, under a new initiative announced today (14 June).

The project is targeting businesses that are likely spending £500,000 or more on electricity annually, of which the firms estimate there are more than 8,000 nationwide.

“Increasing flexibility in the UK’s electricity system is key to the continued transition to a cleaner, smarter energy network,” Thrive Renewables' managing director Matthew Clayton said.

“We are offering businesses a straightforward solution; we take the investment risk, manage the development and operate the battery to maximise mutual returns.”

The batteries, which have a minimum capacity of 0.5MW, will be installed either within the businesses’ existing buildings or outside in shipping containers, and will be fitted behind the meter. 

Thrive and Aura cited manufacturers, water utilities, pharmaceuticals businesses, cold storage facilities, hotels and large office buildings as potential clients, claiming that a mid-range 2MW battery could save each end-user more than £1m over a 15-year standard contract.

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