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EnergyPathways CEO: Storage is 'the key missing piece' as MESH lands Jacobs
About this episode
EnergyPathways PLC (AIM:EPP) CEO Ben Clube spoke with Proactive's Stephen Gunnion about the latest milestone for the MESH long-duration energy storage project, following the appointment of Jacobs as a tier-one engineering and regulatory partner.
Clube said the appointment launches EnergyPathways' engagement with the planning approval process for MESH, as well as Ofgem's cap-and-floor mechanism for long-duration storage projects, which provides government revenue support to underpin project financing.
On the choice of Jacobs, Clube highlighted the firm's experience with major UK infrastructure projects and its planning and government relations expertise, saying it would play a major role supporting MESH through the relevant processes.
He also discussed the wider role of long-duration storage in the UK's energy transition, describing it as "the key missing piece" that lets surplus renewable electricity be stored and used when demand requires. Surplus wind energy already adds around £1.5 billion a year to consumer bills, Clube said, a figure that could rise past £8 billion annually by 2030 as more wind farms come online - equivalent to 72 terawatt hours of surplus generation. "This is a major, major challenge for the UK," he said, with long-duration storage offering a way to capture that surplus and reuse it when needed.
Clube also outlined EnergyPathways' planned investor engagement events, giving shareholders a chance to hear more about MESH as the project progresses.
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#EnergyPathways #MESH #EnergyStorage #LongDurationEnergyStorage #LDES #RenewableEnergy #WindEnergy #UKenergy #EnergyTransition #CleanEnergy #EnergyInfrastructure #EnergyInvestment #Ofgem #Jacobs #SurplusWind #EnergySecurity
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