ENEL has acquired 100% of the shares in Tynemouth Storage System. Tynemouth is currently developing a 25MW facility in Newcastle, England.
The energy storage is critical in the expansion of renewable energy as they provide balancing services to feed national grids. According to analysts, 700MW of total installed EFR (enhanced frequency response) storage capacity could be reached by 2020 in UK. UK system is expected to have as much as 18GW of storage projects connected to the grid by 2040.
The total investment by Enel in the acquisition and construction of the storage plant will be around €20mn.