UK utility EDF has been selected by UK energy storage projects operator Eelpower to optimise some three grid-scale battery energy storage projects.
EDF will provide its trading platform, Powershift, to manage the battery systems.
EDF will be responsible for the trading and optimisation of the battery projects with a total capacity of 80MW.
The utility will work with Eelpower’s technology partner Upside Energy, to open revenue streams for these assets, including ancillary services, balancing mechanism and wholesale optimisation.
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The agreement will also provide bankable reassurance through the delivery of a floor price, ensuring minimum income levels are guaranteed, which has been a key element for the investors.
The seven-year contract reinforces EDF’s commitment to helping Britain achieve its net-zero goal.
The projects are owned by Swiss fund manager SUSI Partners’ Energy Storage Fund and Eelpower itself.
Stuart Fenner, head of energy trading services at EDF, said: “We are really pleased that Eelpower has chosen to partner with EDF on the trading and optimisation for a number of its battery storage projects. Partnerships with early innovators such as Eelpower, are testament to our highly skilled teams and the work that has been put into building our track record for first class trading and optimisation services.
“As a leading battery optimisation services provider, we look forward to supporting Eelpower in delivering maximum value whilst managing investment risks. The combination of our trading expertise and ability to provide an attractive price floor brings a unique offering to the battery storage marketplace.”
Mark Simon, Eelpower CEO, said: “EDF has a great track record for generating revenue through wholesale trading and optimisation. The EDF team has been a genuine innovator in the delivery of market-leading optimisation services and we have undertaken a detailed contestable procurement before selecting them.”