Britain’s energy problems could be alleviated by a new scheme to build power-storage sites across the UK using batteries produced by Tesla, the electric carmaker.
An investment trust plans to raise £230m in a stock market listing to fund a string of battery-storage facilities in largely rural locations.
Harmony Energy Income Trust has a pipeline of six sites that are designed to sell back energy to the grid at times of high demand when, for instance, the wind drops and supply from renewable sources falls. The sites lined up will have a total capacity of 625MWh.
The trust has struck a partnership with Elon Musk’s Tesla to use its Megapack batteries, which charge up in just two hours and provide energy for two hours.
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