UK needs battery storage to stabilise power system
Equinor enters UK battery storage market
Norwegian company agrees to buy stake in battery developer as UK’s renewables expansion increases need for storage
Norwegian state-owned energy company Equinor has agreed to buy a 45pc stake in UK-based battery storage developer Noriker Power, with an option to buy the entire company at a later stage. In addition to the equity investment, the firms have agreed to allow Equinor to directly participate in projects being developed by Noriker. Equinor says it sees the move as an opportunity to create a profitable businesses by deploying batteries and storage assets to meet the growing need to stabilise power markets as the share of intermittent renewables in the UK grows. The UK’s high degree of renewables make the country an interesting investment case for a battery storage business ” Kolbeinstveit, E
Also in this section
14 January 2025
Bioenergy will be a key part of the energy transition as the world decarbonises, and Brazil is set to be a major player in the sector
14 January 2025
The region has ample resources of both gas and renewable energy and developing both will be vital to the global effort to reduce emissions
13 January 2025
The region’s fast-growing economies stand at a pivotal juncture, with the opportunity to drive a sustainable growth strategy that will keep the world’s net-zero ambitions alive
10 January 2025
Global energy demand keeps rising, and digital technology will play a crucial role in both meeting that demand and doing so in a sustainable way
