EnergyPathways Progresses on MESH Energy Storage Project for UK's Clean Power Transition
Key Ideas
- EnergyPathways signs MOU for equity financing to support MESH growth plans in gas storage, hydrogen, and decarbonised gas power generation.
- Company secures a new petroleum license for MESH project after consultations with NSTA, enhancing its position for an accelerated energy transition.
- Discussions underway with a FTSE 100 company for long-term gas storage agreements and debt financing, boosting project prospects.
- Submission of final engineering report for MESH-H2, a large-scale hydrogen storage facility integrated with wind power, signals progress in decarbonised energy supply.
EnergyPathways, an energy transition company, is advancing the MESH energy storage project to support the UK government's Clean Power by 2030 target. The project aims to provide large-scale flexible capacity and long-duration storage to complement wind power expansion. EnergyPathways has secured equity financing and debt facilities to fund the project's growth in gas storage, hydrogen, and decarbonised gas power generation, showcasing its ability to attract private capital for the UK's energy transition. Discussions with a FTSE 100 company for gas storage agreements and financing add further momentum. A key development includes the submission of an engineering report for MESH-H2, a significant hydrogen storage facility integrated with offshore wind power. The company's progress in securing a new petroleum license aligns with regulatory reforms, positioning MESH as a crucial player in accelerating the UK's energy transition. With a positive sentiment towards private-backed energy projects, EnergyPathways anticipates a pivotal role in driving clean energy transition and meeting government targets, amidst challenges and regulatory adaptations.
Topics
Projects
Energy Transition
Renewable Resources
Gas Storage
Government Partnerships
Regulatory Reform
Debt Financing
Private Capital
Offshore Supply Chain
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