Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTFebruary 7 (Renewables Now) - Great Britain-focused clean energy developer Intelligent Land Investments Group, or ILI Group, today announced the start of the initial planning phase for a 1.5-GW pumped storage hydro (PSH) project in Argyll & Bute, Scotland.
The Balliemeanoch project involves the establishment of a “head pond” in the hills above Loch Awe, near Dalmally, to hold 58 million cubic metres of water when full. The facility will be able to supply 1.5 GW of power for up to 30 hours, which would be enough to supply 4.5 million homes, the developer estimates.
Chief executive Mark Wilson noted that the firm is awaiting the outcome of the UK government’s Call for Evidence on long-duration storage.
“Having the necessary market mechanism in place will enable the current PSH pipeline of over 5GW to be built and keep the country on target for achieving net zero. We believe a cap and floor mechanism, similar to what is in place for interconnectors between the UK to Europe, will get all these nationally significant infrastructure projects moving, but time is critical,” he stated.
Balliemeanoch is ILI Group’s third and largest PSH project, the other being Red John at Loch Ness and Corrievarkie at Loch Ericht.
Weekly renewables M&A round-up (May 23-27)
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