STORELECTRIC EXCHANGES CONTRACTS TO PURCHASE INDUSTRIAL LAND IN TEESSIDE FOR LONG-DURATION ENERGY STORAGE (LDES) PROJECTS
Teesside, United Kingdom, 16/02/2026 – Storelectric Teesside Ltd, a wholly owned subsidiary of Storelectric Ltd, has exchanged contracts with SABIC UK Petrochemicals Ltd for the acquisition of approximately 550 acres of industrial land located in Teesside. This acquisition encompasses underground cavern assets as well as essential above-ground infrastructure, and benefits from geological characteristics well suited to large-scale LDES. The transaction is expected to complete later this year, subject to the agreed conditions.
A defined portion of the site has been earmarked for Storelectric’s LDES project, TeesCAES, utilising compressed air energy storage (CAES). TeesCAES has already progressed through the initial phase of the UK’s LDES cap and floor regime, regulated by Ofgem, and is among a limited number of projects nationally selected to reach this stage. A decision on the project’s progression to the next phase of the scheme is expected in the coming months.
Beyond Storelectric’s initial LDES project, the scale, existing infrastructure and configuration of the wider site provide flexibility for the phased development of additional clean energy and energy infrastructure-related projects over time, subject to regulatory approvals and funding.
Tallat Azad, Managing Director of Storelectric said:
“This acquisition represents an important milestone for Storelectric and demonstrates its commitment to repurposing established industrial assets to support the energy transition, grid resilience, and LDES deployment.”
The site provides a reference platform capable of informing further similar large-scale developments in the UK and other geographies, where comparable industrial and geological characteristics exist. Further updates will be provided following completion and as the project progresses.
About Storelectric
Storelectric is a developer of large-scale energy storage solutions, utilising underground cavern storage to support renewable power systems today and enable future energy system flexibility. Its long-duration energy storage projects are designed to address intermittency, enhance grid stability, and strengthen energy security.
Storelectric remains open to exploring aligned collaborations to realise the potential of this site and its future projects. For any enquiries, please contact press@storelectric.com.
