Energy storage to reduce market risks for CfD projects as Ørsted takes FID on Hornsea 3 BESS
- Admin
- Jun 12, 2024
- 1 min read
Orsted will build a 300MW/600MWh BESS at its Hornsea 3 wind farm in Swardeston, Norfolk. The BESS, using Tesla Megapacks, aims to reduce price volatility, provide services to National Grid ESO, and support renewable generation buildout. Co-locating the BESS with the wind farm is expected to mitigate market risks for CfD projects as highlighted by AFRY consultancy. Energy storage plays a crucial role in reducing negative pricing, balancing costs, and tackling transmission system constraints in the UK market.
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