A Giant Purchase by Statkraft: Hydropower plant in Lochness

Statkraft, an impactful Norwegian green plant, has purchased a Hydropower plant project near Loch Ness in Scotland. This plant is often referred to as a “water battery”. This initiative, as stated by the company, was its way of pushing the United Kingdom towards creating a greener world. It also aims at eradicating the dependency upon energy sources that are fatal for the environment and are major contributors to environmental pollution and degradation.

The vision of a new plant is being put into motion with the new one being established next to an old plant. This old plant has been in the same area since the 1960s. The company’s idea of owning a “water battery” was to ensure a seamless supply of energy that does not affect the environment in any manner whatsoever.

Once the factory starts, it will not only play a major role in boosting the green energy initiative in the UK but will also create hu dress of jobs. This project has been named “Red John” and is not the first of its kind. There are as many as six such projects that are on their path of being executed. With this step and many more such strides in the future, the production of hydropower and its hydro capacity will reach 7.7 GW.

ILI CEO Mark Wilson, from whom Statkraft purchased the project, stated: “As we stand on the threshold of a greener future where long-duration storage like Red John is paramount, we believe the UK can lead in renewable energy paired with energy storage as a keystone for the energy transition.” Further, the CEO of Statkraft said, “Statkraft is fully committed to supporting the UK in strengthening its energy security and helping to secure the economic benefits of the net zero transition.

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