'Super batteries': Ofgem unveils 'cap and floor' investment scheme for Long Duration Electricity Storage

clock • 4 min read
Drax's Cruachan 'hollow mountain' pumped hydro storage | Credit: Drax
Image:

Drax's Cruachan 'hollow mountain' pumped hydro storage | Credit: Drax

UK energy regulator claims scheme can help remove barriers for scaling large LDES 'super battery' projects, which are increasingly seen as crucial for delivering a clean power system by 2030

Ofgem has announced plans for a new 'cap and floor' investment support scheme designed to unlock billions of pounds in funding for a fleet of the UK's first major Long Duration Energy Storage (LDES) projects...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Investment

Global Briefing: Mexico completes record sustainable bond issuance

Global Briefing: Mexico completes record sustainable bond issuance

Mexico builds on its green bond momentum, China reports fall in fossil fuel generation, and the last Czech deep coal mine is to close

James Murray
clock 23 January 2026 • 5 min read
Drax inks £42m deal to acquire Flexitricity

Drax inks £42m deal to acquire Flexitricity

Acquisition set to bolster energy giant's position in the fast-growing energy storage and flexible grid sectors

clock 21 January 2026 • 2 min read
British International Investment backs new $1bn development fund

British International Investment backs new $1bn development fund

Development finance agency to act as anchor for new Allianz Credit Emerging Markets fund, which promises to back wave of renewables, clean transport, and agriculture projects

James Murray
clock 20 January 2026 • 3 min read