A greenfield energy transition fund managed by Foresight Group has announced a “significant” investment in Gilkes Energy’s 1.8 GW Earba pumped storage hydropower (PSH) project in Scotland, United Kingdom (Foresight Group press release, 19/10/2026).
Earba is considered one of the largest PSH projects currently being developed in the UK, with a storage capacity of 40 GWh, according to the company’s press release. With the ability to export electricity at full capacity for 22 hours, the project is expected to support grid balancing by storing renewable energy when electricity generation exceeds demand, according to the company’s press release.
On average, the project is expected to generate enough electricity to supply more than 1.4 million UK homes.
Earlier in 2026, Earba was included in the UK regulator Ofgem’s Minded-to Decision under the first application window of the UK Government’s Long Duration Electricity Storage (LDES) cap and floor scheme. In terms of both installed capacity and energy storage, Earba is the largest pumped storage hydro project covered by the decision. Ofgem is expected to issue its final decisions on the first LDES cap and floor window in autumn 2026.
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