A cryogenic energy storage system comprising: a cryogenic storage tank (100, 409) for storing a cryogen; a pump (105,410) in fluid communication with the cryogenic storage tank, wherein the pump (105,410) is for compressing the cryogen from the storage tank (100, 409); a first thermal store (301,411) having a first pathway therethrough for conveying a first heat transfer fluid; a first heat exchanger (302,413) having: a second pathway therethrough for conveying the first heat transfer fluid to the first pathway, and a third pathway therethrough for conveying the compressed cryogen, wherein the first heat transfer fluid is for capturing cold thermal energy from the cryogen to heat the cryogen, and for conveying said captured cold thermal energy to the first thermal store (301,411); a power recovery system including one or more expansion turbines (106,415,417) for expanding the heated cryogen to generate power; and a co-located liquefier including: a second heat exchanger (303,406) having: a fourth pathway therethrough for conveying the first heat transfer fluid from the first pathway, and a fifth pathway therethrough for conveying a first working fluid to capture cold thermal energy from the first heat transfer fluid and convert the first working fluid into new cryogen; and a sixth pathway for conveying the new cryogen to the cryogenic storage tank (100, 409). a cryogenic storage tank (100, 409) for storing a cryogen; a pump (105,410) in fluid communication with the cryogenic storage tank, wherein the pump (105,410) is for compressing the cryogen from the storage tank (100, 409); a first thermal store (301,411) having a first pathway therethrough for conveying a first heat transfer fluid; a first heat exchanger (302,413) having: a second pathway therethrough for conveying the first heat transfer fluid to the first pathway, and a third pathway therethrough for conveying the compressed cryogen, a second pathway therethrough for conveying the first heat transfer fluid to the first pathway, and a third pathway therethrough for conveying the compressed cryogen, wherein the first heat transfer fluid is for capturing cold thermal energy from the cryogen to heat the cryogen, and for conveying said captured cold thermal energy to the first thermal store (301,411); a power recovery system including one or more expansion turbines (106,415,417) for expanding the heated cryogen to generate power; and a co-located liquefier including: a second heat exchanger (303,406) having: a fourth pathway therethrough for conveying the first heat transfer fluid from the first pathway, and a fifth pathway therethrough for conveying a first working fluid to capture cold thermal energy from the first heat transfer fluid and convert the first working fluid into new cryogen; and a sixth pathway for conveying the new cryogen to the cryogenic storage tank (100, 409). a second heat exchanger (303,406) having: a fourth pathway therethrough for conveying the first heat transfer fluid from the first pathway, and a fifth pathway therethrough for conveying a first working fluid to capture cold thermal energy from the first heat transfer fluid and convert the first working fluid into new cryogen; and a fourth pathway therethrough for conveying the first heat transfer fluid from the first pathway, and a fifth pathway therethrough for conveying a first working fluid to capture cold thermal energy from the first heat transfer fluid and convert the first working fluid into new cryogen; and a sixth pathway for conveying the new cryogen to the cryogenic storage tank (100, 409).