Slaughter and May advised Centrica plc (“Centrica”) on its participation in the latest £130 million funding round in Highview Power. The latest investment round, involving Centrica, the Scottish National Investment Bank (SNIB), Goldman Sachs, KIRKBI and Mosaic Capital, will fund construction of the first phase of the Hunterston project, a “stability island”, which will provide system support to the electricity grid.
This stability island is a key component of Highview’s LDES system. It can operate independently of the energy storage elements and will deliver critical inertia, short circuit and voltage support to the UK power grid. The asset will support the grid at a location that faces considerable stability challenges. In turn, this will enable more power to be transmitted from the point of generation in Scotland to areas of high demand, preventing curtailment of wind energy across Scotland.
This investment follows Centrica’s investment in Highview Power in June 2024.