LevelTen Energy launches PPA-style contract for energy storage projects

LinkedIn
Twitter
Reddit
Facebook
Email
LevelTen CEO Bryce Smith said the new service closes a gap in the market that could simplify and speed up the roll-out of battery storage. Image: Anesco.

Renewable energy procurement advisor LevelTen has unveiled a new financial contract service that enables corporations to invest in large-scale energy storage projects.

Called the RE-Store Energy Agreement, it is a contract styled on power purchase agreements (PPAs) that LevelTen is better known for securing in the renewables sector. It is designed for utility-scale projects and guarantees a price per MWh for energy that is sold to the grid, according to a spokesperson for the group. LevelTen uses a suite of analytics and a database of PPA knowledge to assess risks and help customers find the deal most appropriate to their needs.

The contract means that buyers are paid the difference between highest and lowest hourly energy prices each day in the wholesale market, while the developer receives a fixed revenue stream for a utility-scale project. The buyers do not take on the operational risk that is associated with other utility-scale storage projects, and the storage does not need to sit alongside an energy generation system such as a solar plant.

The company said in a statement that the deal would be “particularly effective” in markets with high or rapidly growing renewable energy penetration, due to the inverse relationship between the value of renewable energy PPAs and that of battery storage.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

At the same time, it gives storage operators a consistent revenue steam so they can finance projects.

Bryce Smith, LevelTen’s chief executive, said the sector does not yet have the right financial infrastructure to “deliver reliable value streams” to both energy buyers and storage owners.

The platform was launched earlier this year in Europe, and has been available in the US since 2018.

Smith added that offering storage owners a fixed income from the RE-Store agreements provides them with a more secure revenue stream to finance projects.

Power Purchase agreements (PPAs) that combine renewable energy and battery storage have become more common in recent months, with LevelTen facilitating a similar agreement between Starbucks and developer Terra-Gen this month. Starbucks signed a power purchase agreement (PPA) to purchase 24MW of solar power and 5.5MW of battery storage from the Edwards & Sanborn energy project currently under construction in Kern County, California. The coffee company said the deal will supply renewable energy for 550 of its stores in the state. However, PPA-style contracts solely for energy storage are uncommon.

Smith said the RE-Store Energy Agreement “closes this gap” in the market and could complement a business’ existing renewable contracts while also offering storage owners “full operational control, allowing projects to optimize all asset revenues, including capacity and ancillary services.”

This story has been amended to reflect the availability of the new product in international markets.

11 November 2025
San Diego, USA
The 2024 Summit included innovative new features including a ‘Crash Course in Battery Asset Management’, Ask-Me-Anything formats and debate-style sessions. You can expect to meet and network with all the key industry players again in 2025 from major US asset owners, operators, RTOs and ISOs, optimizers, software and analytics providers, technical consultancies, O&M technology providers and more.

Read Next

Premium
October 8, 2025
Utah Associated Municipal Power Systems (UAMPS) has negotiated the terms of a solar and BESS power purchase agreement (PPA) with Boston, Massachusetts-based developer Longroad Energy.
October 8, 2025
US utility Xcel Energy has proposed to build out a 200MW battery storage network across Minnesota, US.
October 8, 2025
The NSW Independent Planning Commission has granted planning approval for Potentia Energy’s 500MW Tallawang solar-plus-storage project.
Premium
October 7, 2025
Energy-Storage.news Premium hears from a representative from Honeywell and Alejandro Schnakofsky, CTO of Prevalon, on fire safety in the battery energy storage system (BESS) industry.
October 7, 2025
Utility CPS Energy and IPP Eolian have begun operating Padua 1, a 50MW/100MWh battery energy storage system (BESS) located in Bexar County, Texas, US.

Most Popular

Email Newsletter