The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

UK’s Low Carbon signs revenue share deals with optimisers for 95W of BESS

LinkedIn
Twitter
Reddit
Facebook
Email

Independent power producer Low Carbon has signed optimisation agreements with Habitat Energy, Flexitricity, and EDF across four battery energy storage systems (BESS) with a capacity of 95MW.

Low Carbon confirmed this agreement would see the three companies dynamically optimise the batteries across different markets, on a revenue share model. This is across Low Carbon’s Meadow (10MW), Sandon Brook (35MW), Fern Brook (20MW), and Birch (30MW) BESS sites.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • 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

With the first system set to come online in early 2025, the four sites will capture intermittent renewable energy generation and use the BESS as a method to provide flexibility to the grid.

Low Carbon has also contracted the energy flexibility management platform, KrakenFlex, across all four sites to act as a market dispatch and controls partner. This partnership will “enable Low Carbon to efficiently manage a multi-optimiser portfolio and to carry out independent revenue and dispatch checks”, the company said.

Marco Verspuij, head of power management at Low Carbon, said: “Low Carbon are one of the early movers to contract multiple optimisers for one BESS portfolio in a market that is developing at pace. Moreover, this type of agreement highlights how innovative finance options for storage can play a crucial role in helping the UK meet net zero.

“We are in a dynamic earnings environment right now and we have designed our systems to be future proof through our partnership with KrakenFlex, which will ensure our optimiser agreements remain agile.”

Last week, Low Carbon reached financial close on a 385MW portfolio of solar and co-located battery storage projects in the UK. The portfolio, which is set to enter construction in early 2024, will be delivered by international EPC contractor Equans through its subsidiary Bouygues Energies and Services, and Elma. Trina Storage will provide the BESS for the portfolio.

This story first appeared on Solar Power Portal.

Energy-Storage.news’ publisher Solar Media will host the 9th annual Energy Storage Summit EU in London, 20-21 February 2024. This year it is moving to a larger venue, bringing together Europe’s leading investors, policymakers, developers, utilities, energy buyers and service providers all in one place. Visit the official site for more info.

Read Next

March 1, 2024
London Stock Exchange-listed battery storage investment firm Harmony Energy Income Trust (HEIT) has predicted that it can generate “attractive returns” despite the ongoing woes in battery energy storage revenues in the GB market.
Premium
March 1, 2024
Italy grid-scale energy storage market opportunities unlike anywhere else, but many challenges and uncertainties around the different revenue streams remain, including the upcoming MACSE capacity market auction.
Premium
February 29, 2024
We hear from industry sources about why we’ve seen a flurry of investors acquiring energy storage developer-operators in the UK and Germany, Europe’s two largest markets by BESS deployments.
February 29, 2024
UK firm G2 Energy is moving into full BESS wrapped EPC services under its new owner Mitie, having focused on a grid connections and balance-of-plant (BOP) engineering services prior to its predecessor company’s bankruptcy last year, CEO Kelvin Ruck said.
February 29, 2024
The UK electricity system operator’s T-4 Capacity Market Auction (CMA) for delivery year 2027/28 cleared earlier this week (27 February) after two rounds at an “all-time high” clearing price of £65 (US$82.23)/kW/year.

Most Popular

Email Newsletter