Electricity storage is becoming a critical enabler of the energy transition forming an integral part of the portfolio of assets and technologies needed to providing flexibility against a backdrop of increasing amounts of intermittent wind and solar generation. It can support a wide range of services needed for the transition including frequency response, reserve capacity, black-start as well as facilitating self consumption of distributed renewable energies.
Battery storage is developing rapidly and, with increasingly innovation and declining costs, will be a defining technology in the future. Pumped hydro storage, one of the most established and efficient means of storing electricity, will continue to play a critical role in the technology mix particularly to meet large scale storage requirements. Currently it accounts for over 90% of global storage capacity.
Frontier Power has supported a major infrastructure investor in acquiring ownership of 1600MW of closed loop pump storage projects in North America. This included the origination of the transaction through discussions with the seller of the assets, preparation of the financial model, evaluation of the regulatory environment and the contract negotiations.