Published: 8 Dec 2022, 11:46
Field has confirmed its 20MW battery energy storage site in Oldham has become the first in its portfolio to be fully operational.
The battery storage developer, formerly known as Virmati Energy, stated that the site had started storing energy and was now supplying energy to the national grid. The Oldham project had originally been scheduled to come online in April 2022.
Increasing the number of battery energy storage sites in the UK could be crucial for the green revolution whilst also supporting flexibility services. By providing sufficient battery energy storage, intermittent energy generation sources will be able to store clean energy in a battery that can then be used to balance the grid at times of peak usage.
In doing so, this will enable deeper decarbonisation as when there is peak demand currently, the UK fires up carbon-intensive generation such as gas.
Field launched at the beginning of 2021 by Bulb co-founder Amit Gudka and in its first six months it raised £10 million in pre-seed capital and Series A funding and ran a Series B in September 2021.
Since its inception, the firm has created a pipeline of 230MWh of battery storage sites ready to be built or in construction with an additional 2.1GWh in development. 3.5GWh of projects are currently in exclusivity.
The firm aims to finance, develop and operate battery storage sites utilising an agile operation strategy that has lower overheads, it said.
“I’m thrilled our first site is now operational and to be making this tangible step towards decarbonising and stabilising the UK’s grid. We have been working hard to have the site ready ahead of winter to help the UK’s transition to a more flexible and sustainable energy system,” said Chris Wickins, technical director at Field.
Field recently secured £77 million in funding as it looked to continue the rapid expansion of its portfolio. This is made up of £30 million of equity funding from early-stage investor Plural with the remaining £47 million coming as a debt facility secured from Triple Point Energy Investment Company (TEEC).
The £77 million funding will allow Field to rapidly build battery sites across the UK, targeting 1.3GWh of operational assets across by 2024.