The non-binding memorandum of understanding will be the eighth signed between the UK and a US state since Britain''s departure from the EU, taking the total combined gross domestic product of those states to £5.3 trillion ($6.8 trillion) — a quarter of the US economy.
Both sides will work towards mutual recognition of engineering qualifications, in a move which could make it easier for Britain to find talent it needs as it invests in infrastructure. Texas already signed up to a similar deal the UK concluded with the US last year supporting mutual recognition of architects.
The MoU will also make it easier for UK and Texan firms to do business in areas which Britain is hoping to expand into, such as hydrogen and carbon capture, the UK''s trade department said in an emailed statement. It will "tackle trade barriers, grow investment and drive commerce" between the two geographies, the statement added.
Nevertheless, the deal falls short of the full Free Trade Agreement with the US which many Brexit-backers had hoped for. While progress initially appeared to be made on a federal-level deal, President Joe Biden took the option off the table last year, leaving the UK to make piecemeal agreements with individual states and on specific areas such as critical minerals.
The UK has had limited success signing FTAs elsewhere since Brexit, despite such deals being touted as a benefit of leaving the European Union. Discussions on an FTA with India are still dragging on, while talks with Canada have been "paused" after both sides were unable to reach agreement on key matters regarding food safety regulations.
"As our ninth largest trade partner, the United Kingdom plays a critical role in the Texas economic juggernaut," Abbott said. "By signing this Statement of Mutual Cooperation today, we will further promote economic growth on both sides of the Atlantic."
Texas, which recorded gross domestic product of £1.9 trillion in 2022, making its economy larger than that of Italy or Canada, traded £14.7 billion worth of goods with the UK in 2023. The top products exported to Texas included nuclear equipment, aircraft and pharmaceutical products.
Some economists have criticized the UK''s MoU strategy with the US, complaining that the pacts do little to actually reduce tariffs and are not well-advertised among businesses.
But the UK Department for Business and Trade said companies were already making use of the pacts already signed, referring to Inovus Medical — a surgical training technology firm — which launched its US headquarters in Tampa Bay last December, just one month after the UK-Florida MoU was signed.
Renewable energy developer TagEnergy has energised what it claims is the UK''s largest transmission-connected battery energy storage system (BESS): the 100MW/200MWh Lakeside project in North Yorkshire.
Situated in Drax, a village west of the Humber tidal estuary on the Northeast coast of England, the 2-hour duration project is on the transmission network, enabling it to secure a connection to the national grid with reduced charges. Construction commenced on the Lakeside project in August 2023.
The BESS project is 100% owned by TagEnergy and received support from technology provider Tesla, optimiser Habitat Energy, and independent renewables company RES Group. In December 2021, TagEnergy secured a 100% stake in the Lakeside project from RES in a deal worth £65 million (US$85 million), as reported by our sister site Solar Power Portal.
Tesla, the engineering, procurement and construction (EPC) contractor for Lakeside, provided a Tesla Megapack 2XL lithium-ion battery system. Habitat Energy supported the project as the route-to-market partner and battery optimiser, with independent renewable energy company RES as asset manager.
TagEnergy has a standing relationship with Tesla, with the technology giant providing its Megapack lithium-ion batteries and Autobidder AI software for the 49MW/98MWh Jamesfield BESS in Scotland. The project is co-owned by TagEnergy and developer Harmony Energy via a joint venture.
Tesla had also been contracted to supply its Megapack 2XL battery systems for TagEnergy''s 49.9MW/99.8MWh Pitkevy facility in Fife, Scotland. Financial close on the project was achieved in February 2024.
Franck Woitiez, CEO of TagEnergy, emphasised that the Lakeside BESS will be the UK''s largest transmission-connected BESS "for a while", signalling that it is an important project that "moves the needle for the energy transition".
Development at the BESS project has been aided by a debt package worth up to £70 million, provided by lenders Santander, Rabobank, and Triple Point. The package also includes an uncommitted accordion facility to potentially incorporate further assets into the funding structure.
The 700MW Aunchetiber BESS will be situated on around 16.39 hectares of land near Port Glasgow, Inverclyde, with permission secured for the construction of 240 BESS units, 140 BESS transformers, 280 BESS inverters, three 33kV switchrooms, 400kV control building, and a 400kV to 33kV transformer compound.
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