Siemens signs £11m deal for UK grid ‘storage as a service’

Siemens signs £11m deal for UK grid ‘storage as a service’

Business news |
By Nick Flaherty

Agreements are currently being put in place for the first project at Dorking,  and the partnership will cover a total capacity of 22MW when it goes live between the summer of 2018 and early 2019.

The UK government announced a GBP £246 million funding package for battery research and development alongside a plan to increase smart energy technology penetration in homes and businesses.

Through the new partnership Siemens and GBSL will work together to offer grid scale storage coupled with a new ‘energy storage as a service’ offering. Using a service business model where Siemens owns the battery storage will save industrial high energy users tens of thousands of pounds per year on the cost of electricity. This would be achieved whilst simultaneously helping to improve power quality and reduce production losses as a result of service interruptions. 

GBSL will use Siemens SieStorage Lithium-ion battery energy storage solutions, and the projects will be financed by Siemens Financial Services in the UK. The partnership is designed to maximise the benefits from battery storage and to introduce new storage technology as it emerges.

“GBSL is expert at delivering complex energy projects and we look forward to further strengthening our partnership,” said Chris Beadsworth, Director at Siemens Energy Management Division (above right, with GBSL co-founder Andrew Blumfield). “The combination of Siemens’ innovative technologies together with GBSL’s vision will provide a compelling case to companies seeking guaranteed energy storage capability – with no capital cost.”

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