Energy-Storage.news was delighted to host this webinar with consultancy Clean Horizon, where we look at the new ancillary service opportunity that could bring a much-needed revenue stream anchor to the European energy storage market.
Automatic Frequency Restoration Reserve (aFRR, formerly known as “secondary reserve”) is finally opening up to energy storage in most European countries. The PICASSO project to establish a European platform for exchanging balancing energy for aFRR will start opening up the market as early as this summer in some countries. This new opportunity comes at the right time for storage, as FCR (or “primary reserve”) prices have been decreasing to levels that have disappointed some investors.
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Through this webinar, experts from Clean Horizon and Gore Street Capital drew a path for European investors and IPPs active on the continent who are looking to successfully finance merchant storage projects.
Clean Horizon CEO Michael Salomon talks us through what aFRR means for the energy storage market and what will be required to participate. Paula Trevasso, principal at Gore Street Capital, a UK-based acquirer and manager of energy storage assets through its Gore Street Energy Storage Fund, brings her insights on what is required to build a solid business case for energy storage that investors can get behind.