"Bankability” is a term used in the renewable energy world to describe the likelihood that any particular technology will be funded by financiers. If it is new and unproven, banks and other financial institutions will be unlikely to fund associated projects until they have developed an industry track record through the performance of such technology, and have gained maturity in the marketplace.
Although having long been hailed as the holy grail of the renewable energy market, this is one of the key issues why energy storage hasn't taken off in a more substantial fashion. While batteries have been around for a century, the number of large scale installations (in relative terms) is still very small.
So it's great to see this news that developer and owner Statera Energy have clinched a refinancing deal for their 50MW utility scale battery storage plant in the UK - one of the first for a battery storage installation in the UK and hopefully points towards the maturity of energy storage as an asset class.
Hyperion recently partnered with Arenko Group, a developer and owner of battery storage projects in the UK, to manage the growth of their commercial and technical teams in London, successfully recruiting their Head of Trading, Innovation Project Manager, HSQE Manager, Senior Systems Engineer, Construction Project Manager and Software Architect.
If you'd like to learn more about how our work in the battery storage sector as a specialist clean energy executive search firm, please get in touch.
The 49.9MW facility was commissioned in December 2017 and as such has now been operational for six months. It clinched a two-year Firm Frequency Response contract to provide services to National Grid and also has a 15-year Capacity Market contract, commencing in 2020/21