The company highlighted that Long Duration Energy Storage (LDES) provides significant benefits, including reducing wind curtailment costs—costs that are typically passed on to consumers—and decreasing reliance on costly gas generation.
Following the approval of Earba, Gilkes Energy has submitted a planning application for another major LDES project in collaboration with Perth-based SSE Renewables. The two companies are seeking consent to build a 1.8 GW/36 GWh pumped hydro energy storage project in Scotland.
“We are also working closely with the UK Government and Ofgem to implement the Long Duration Energy Storage (LDES) ‘Cap & Floor’ mechanism in 2025. This investment framework acknowledges the importance of pumped storage hydro while addressing the challenges of financing such capital-intensive, long-lead-time projects.” Crompton added.