Foresight Energy Infrastructure Partners II partners with Gilkes Energy via strategic investment into Earba Pumped Storage Hydro
- Investment strengthens Earba’s position as one of the UK’s leading long-duration electricity storage projects
- Supports the delivery of critical energy infrastructure in Scotland
Gilkes Energy announces that Foresight Group (‘Foresight’), a leading infrastructure and private capital investment manager, has made a strategic investment in Gilkes Energy’s Earba Pumped Storage Hydro (PSH) project. Earba is a 1.8 GW / 40 GWh long-duration energy storage project in the Scottish Highlands and one of the largest PSH projects currently under development in the UK.
This investment will provide capital and long-term support to advance the next phase of the project as it progresses towards construction and delivery. The investment will also support detailed engineering, procurement, site investigations and preparations for construction.
With an installed capacity of 1.8 GW and energy storage capacity of 40 GWh, Earba will provide the equivalent of 22 hours of full-power export. The £multi-billion project will play an important role in balancing the electricity system, storing renewable power when generation exceeds demand and releasing power back to the grid when additional electricity is required. The project on average generates electricity to power more than 1.4 million UK homes.
The investment comes at a pivotal time for the UK’s energy transition. As the electricity system incorporates increasing volumes of intermittent renewable generation, large-scale, long-duration storage will be critical to maintaining system flexibility, strengthening security of supply and reducing reliance on fossil-fuel generation.
Earlier this year, Earba reached a significant milestone with its inclusion in Ofgem’s Minded-to Decision under the first application window of the UK Government’s Long Duration Electricity Storage (“LDES”) cap and floor scheme. One of only three PSH projects included in Ofgem’s Minded-to Decision, Earba is the largest PSH project in terms of both installed capacity and stored energy, underlining its strategic importance to the future UK electricity system. Ofgem is expected to publish its final decisions for the first LDES cap and floor window in autumn 2026.
The project is also expected to generate significant economic activity during its construction and operation, including employment opportunities and investment in the local and regional supply chain.
Carl Crompton, Managing Director of Gilkes Energy, said:
“We are delighted to welcome Foresight as a strategic investor in the Earba PSH project. Their long-term approach to infrastructure investment and experience across the energy transition sector make them an excellent partner for this nationally significant project. Earba is widely recognised as one of the most economically viable and deliverable LDES projects, and has the potential to make a major contribution to the UK’s energy security and net-zero ambitions. Foresight’s investment provides further momentum as we progress the project towards construction and continue to work with our delivery partners to bring this transformational infrastructure project forward.”
Ben Field, Investment Director at Foresight, said:
“We are delighted to be partnering with Gilkes Energy to advance Earba, one of the UK's most strategically important long duration energy storage projects. As renewable generation continues to scale, assets such as Earba will play a critical role in providing the flexibility, resilience and system stability needed to support a decarbonised power system. Building on Foresight's extensive experience of developing and managing essential infrastructure, we look forward to working alongside Gilkes Energy to bring the project through development and into operation, helping to strengthen the UK's energy security and accelerate the energy transition.”
About the Earba PSH Project:
The Earba Project is a proposed pumped storage hydro (PSH) scheme with an installed capacity of 1,800MW and stored energy of 40,000 MWh, making it the largest such scheme ever consented in the UK. One of only three PSH projects included in Ofgem’s Minded-to Decision, Earba is the largest PSH project in terms of both installed capacity and stored energy, underlining its strategic importance to the future UK electricity system.
Please visit the dedicated project website www.earbastorage.co.uk to learn more about the project and for regular updates.
