A joint venture company has been formed to develop a new breed of energy storage systems.
Highview TSK is an alliance between UK storage company Highview Power and Spanish EPC firm TSK, which has built more 20 GW of conventional and renewable power generation projects in 35 countries.
Together they will deploy Highview Power’s cryogenic storage technology – which uses liquid air as the storage medium – in gigawatt-hour scale facilities in Spain, the Middle East and South Africa. Several projects have already been identified to be developed from this year through to 2022 and the company is targeting revenues of over €1bn by 2021.
Highview Power chief executive Javier Cavada said the storage solutions offered by the new company would be “ideal for applications like renewable energy shifting, enabling wind and solar for baseload generation, and hybridizing cryogenic storage plants with traditional thermal generation systems”.
His counterpart at TSK, Joaquín García Rico, said that “after looking at a number of storage technologies, we have come to the conclusion that Highview’s cryogenic energy storage is the ideal solution to deliver long-duration, large-scale storage services. The technology is not only cost effective, it is scalable, clean, has a long lifespan and can be deployed now.”
Highview claims that its cryogenic systems are “the only long-duration energy storage solution available today that offer multiple gigawatt-hours of storage that represent weeks’ worth of storage, not just hours or days”.
Cavada said that grid operators are turning to long duration energy storage to help improve power generation economics, balance the grid and increase reliability, and added that “at giga-scale, energy storage resources paired with renewables are equivalent in performance to – and could replace – thermal and nuclear baseload, in addition to supporting the electricity transmission and distribution systems while providing additional security of supply”.
Highview TSK will operate from bases in Spain, Germany, the UK and the US and will have over 1000 engineers and project managers.
Highview Power has already built and connected two cryogenic energy storage plants to the UK grid. The first was commissioned in 2014 in Slough, England, with a capacity of 2.5 MWh, while last year the company inaugurated the world’s largest liquid air energy storage plant was in Greater Manchester, with a capacity of 15 MWh.
Energy storage will be a hot topic at POWERGEN Europe, which this year is co-located with European Utility Week in Paris. Click here for details.