Welcome to the latest episode of "Redefining Energy Tech," where host Michael Barnard delves into the evolving world of renewable energy technology. In this engaging session, Michael introduces his esteemed guest, Mark Wilson, CEO and founder of Intelligent Land and Investments (ILI) of Scotland.
Mark shares his remarkable journey, beginning with securing land for eco-friendly housing projects, leading up to his current ventures into renewable energy projects such as onshore wind and pump storage. The highlight of the discussion is ILI's advanced project, Red John, poised to significantly bolster the power grid. Mark elucidates the intricacies of pump storage technology and its application in Red John, setting a precedent in the renewable energy sector.
The conversation also touches upon other global pumped hydro facilities, including China's ambitious plans, underscoring the worldwide impact of such initiatives. Mark points out the long-term commitment of these projects, indicated by the 125-year leases on their Scottish sites.
Mark and Michael delve into the challenges and triumphs of integrating new technologies in the renewable energy space. Emphasizing the comprehensive approach required for successful project execution, Mark shares his team's expertise in site selection and development. They address and debunk common myths about the scarcity of suitable locations for pumped hydro storage, demonstrating the feasibility of these projects globally.
The environmental considerations of closed-loop systems and their design intricacies based on mathematical calculations are also discussed. Further into the conversation, they explore the strategic approaches to energy storage, contrasting river-based systems with closed-loop methods. Mark voices his concerns about the environmental impact of river-based systems and advocates for the efficiency and lower impact of closed-loop systems.
The episode also sheds light on the rigorous approval processes for such projects, referencing an incident involving a dam breach and the consequent enhancement of safety measures in dam construction. The UK and Scottish governments' role in fostering a conducive environment for renewable energy projects surfaces as a key topic.
The UK's cap and floor mechanism, designed to ensure safe investment in strategic assets like pumped hydro facilities, is discussed, highlighting the nation's commitment to achieving net zero emissions. This segment underscores the optimism surrounding the future of energy storage in the UK, positioning it as a potential global leader in renewable energy technology.