New Energy Industry Energy Storage Fund

How much government funding has been given to energy storage projects?

This was published under the 2022 to 2024 Sunak Conservative government Over £32 million government funding has been awarded to UK projects developing cutting-edge innovative energy storage technologies that can help increase the resilience of the UK’s electricity grid while also maximising value for money.

What is the long duration energy storage Investment Support Scheme?

Long Duration Electricity Storage investment support scheme will boost investor confidence and unlock billions in funding for vital projects. The UK is a step closer to energy independence as the government launches a new scheme to help build energy storage infrastructure.

Is EQT launching a new energy transition fund?

Private equity firm EQT is launching a new energy transition fund by acquiring ju:niz Energy, a German battery storage business, sources familiar with the matter told Reuters.

Can new energy storage technologies boost UK energy resilience?

However, new energy storage technologies can store excess energy to be used at a later point, so the energy can be used rather than wasted – meaning we can rely even more on renewable generation rather than fossil fuels, helping boost the UK’s long-term energy resilience.

What is the European Fund for Strategic Investments (EFSI)?

The European Fund for Strategic Investments (EFSI) is a joint initiative between the EIB Group (the EIB and the European Investment Fund) and the Commission.

How will government funding help Green Innovators in the UK?

This £32.9 million government backing will enable green innovators across the UK to develop this technology, helping create new jobs and encouraging private investment, while also safeguarding the UK’s energy security. The funding announced today follows the first phase of the LODES competition, which saw £2.7 million awarded to 19 projects.