We’re pleased to announce we have acquired the project rights to a 20MW battery storage project on Feeder Road in Bristol. The battery has the capacity to deliver between one and two hours (20-40MWh) of electricity to the national and local grid. By storing electricity when it is abundant and discharging it during peak times, Feeder Road will provide flexibility enabling more renewable generation to be deployed and used.
This is Thrive’s second battery storage acquisition, further diversifying our existing wind and hydro portfolio. In 2020, we also invested in new geothermal, solar, hydro and battery storage projects.
“Thrive’s portfolio of projects reflects how the energy system is changing to allow renewables to be used more widely. Battery storage projects like Feeder Road will enable further deployment of wind and solar generation. Our hydro and forthcoming geothermal projects will provide more baseload renewable electricity. Together these types of technology will provide the backbone of the resilient, renewables dominated electricity grid the country needs going forward.” Monika Paplaczyk, Investment Director at Thrive Renewables.
We are now working to identify partners for the construction phase which is expected to complete in Spring 2022. Bristol developers Aura Power, who developed the project, worked closely with local people, completing extensive consultation activities.
"The Feeder Road battery storage project is particularly important to the Aura Power team as it is located less than a mile from our head office in Bristol. We had tremendous support from local stakeholders during the development process and are delighted that Thrive Renewables, a leading Bristol-based impact investor, will be taking this project into construction. This project is a great demonstration of Bristol's place at the forefront of the UK energy transition." Simon Coulston, Director at Aura Power.
Stuart Phelps, Core Member at RADE (Residents Against Dirty Energy) said:
"RADE formed to fight a Diesel-fuelled STOR plant proposed for this site and took that fight to a Planning Appeal leading a coalition of groups and communities, many of whom had never done anything like it before. The fight forged strong and lasting links. When Aura Power, who we've worked with before, proposed a battery project, we were glad to help. We look forward to Thrive Renewables joining The Marsh's community, as part of a new sustainable future.”
Operating under a trading model, Feeder Road will participate in wholesale market trading and future capacity market auctions. It will also provide frequency response and balancing services to the National Grid and the local distribution network. There is growing demand for both frequency response and balancing services as fossil fuelled power plants are retired and renewably sourced power progresses towards delivering the majority of UK electricity. Bristol headquartered law firm TLT and renewables consultancy Everoze are advising Thrive on the project.
As part of the agreement to buy the Feeder Road battery project, Thrive also acquired Aura’s Power’s share in Thrive Renewables (BESS Holdings) Limited, which was previously a joint venture between the two companies.