Proactive Investors Interview: World's Largest CAES and UK's Largest LDES Project

Proactive Investors Interview: EnergyPathways Launches FEED for the World’s Largest CAES and the UK's Largest LDES Project.

Link to Interview: https://youtu.be/muvsVAJUlXY?si=bsDFsE9SZ9QM0Wa7

EnergyPathways and Siemens Energy confirm commercial viability of the MESH Compressed Air Energy Storage (CAES) project. FEED has been launched, funded by a £15m Financing Agreement.

CAES Project Highlights:

• A 300 MW CAES facility with 55 GWh storage capacity, offering multiday discharge capability and critical grid stability services.
• Project commerciality and economic viability confirmed with EPP’s major project technology partner Siemens Energy.
• The Gas Storage Licence award decision is not required for this project to proceed.
• Participation in Ofgem’s LDES cap and floor second round expected to commence later this year.
• FID planned for 2028 with operational startup at the end of 2031, subject to regulatory approvals.
• Requires little or no government/taxpayer subsidy.
• Local support received for MESH planned onshore facilities from Team Barrow, a private/public partnership to strengthen and diversify Barrow-in-Furness’ economy.
• A £15 million financing agreement in place to fund FEED. Expressions of Interest for project financing also received from leading global banks and project financing discussions are underway.

The MESH CAES Facility

The MESH CAES facility is expected to be the world's largest CAES facility and Britain's largest LDES project, and will have a power capacity of around 300 MW and energy capacity of 55.2 GWh, providing over 7 days of sustained power output.

The facility will use surplus power from Britain's grid and nearby offshore wind farms to compress air into large, purpose-built, offshore salt caverns. When required, the stored air will be withdrawn, heated and expanded, via a high‑efficiency cycle turbine designed for hydrogen fuel heating, to generate decarbonised dispatchable power.

An onshore sustainable industry park will be developed at Barrow-in-Furness to support the MESH project. It will include the CAES storage operations base as well as a low carbon hydrogen and graphite production facility.

Ben Clube, CEO of EnergyPathways, said:

"I am delighted to kick off the FEED programme for our MESH CAES project. This project, when brought online, will be an invaluable asset for the UK's electricity network and will help deliver the objective for a clean energy system.

Importantly, we expect UK consumers will see the benefits of our CAES project through lower power bills. By harnessing Britain's abundant wasted wind power, it can be used to produce low-cost dispatchable power to reduce our dependency on expensive gas imports for our power supply.”