Stor Power has reached financial close for phase 1 of a development portfolio of reserve capacity. It says it has over 500MW in development and plans to reach 1GW by 2028.
The initial five projects from phase 1 will aim for energisation by winter 2023. They comprise a 60MWh battery and four 15MW gas generation plants said to be ‘hydrogen-ready’. The company’s pipeline also includes two 199.8MWh batteries.
Stor Power chief executive Jon Antoniou said: “The STOR Power team recognises that there is no such thing as a silver bullet in the energy industry and that a mix of complementary reserve and renewable energy technologies are required.”
Stor Power was founded in 2015 and previously developed and exited 180MW of reserve power facilities in 2018.