Wood Group to Provide Engineering Work for EnergyPathways' Marram Energy Storage Hub
Key Ideas
- Wood Group secures a contract with EnergyPathways for engineering work on the Marram Energy Storage Hub (MESH) project in the Irish Sea.
- The MESH scheme aims to provide long-term clean energy supply and storage powered by UK renewable energy, including gas and hydrogen storage.
- EnergyPathways is targeting a final investment decision on the project by the end of 2025, contributing to the UK's energy security and net zero objectives.
- EnergyPathways is funding the project through a loan facility with Luxembourg-based corporate financing platform GGAF.
Aberdeen-based service company Wood has been awarded a contract with EnergyPathways for engineering work on the Marram Energy Storage Hub (MESH) project. The MESH scheme, located in the Irish Sea, is set to provide clean energy supply and storage using UK renewable energy sources, including gas and hydrogen storage. EnergyPathways plans to reach a final investment decision on the project by the end of 2025, aiming to support the UK's energy security and net zero goals. Wood will commence pre-front end engineering and design work on the project next month, utilizing its engineering and project management expertise. The storage facility, once completed, will have a capacity of around 50bcf to store natural gas and hydrogen for the UK market. EnergyPathways is financing the project through a £5.1-million loan facility with GGAF, with interest charged at a fixed rate of 12.5% per annum. This collaboration between Wood Group and EnergyPathways highlights the commitment to energy transition and sustainability in the UK.