Statkraft marks new Gresham House Energy Storage Fund partnership with signing of two optimisation agreements
Statkraft, Europe’s largest renewable power generator, has announced the signing of two optimisation agreements with Gresham House Energy Storage Fund plc (GRID), for two battery energy storage projects in Scotland.
Batteries complement traditional renewables. They store power at times of high wind or solar generation, ready to deploy into the grid at times of low generation, helping to provide the reliability and flexibility needed to maintain security of supply. As one of Europe's largest third-party renewable power traders, Statkraft leverages its expertise in asset optimisation and algorithmic trading to optimise facilities, such as these GRID energy storage projects, across all relevant energy and ancillary markets.
The new agreements will cover the 35MW Arbroath and 40MW Coupar projects, both set to energise in 2022. These assets are transmission connected and CVA registered in Scotland. They will help reduce transmission constraints where they’re located, by storing excess renewable power which may have otherwise been curtailed and releasing it when the network is less congested. Statkraft will maximise the net income streams of the projects across ancillary services and trading markets.
Statkraft operates a partnership model and works closely with clients to achieve the best performance for their assets, using dynamic optimisation techniques and continuous forecasts to maximise their customers’ gross margins. Statkraft schedules the assets in real time to move between wholesale market energy optimisation and ancillary services for the grid, constantly throughout the day.
Duncan Dale, Statkraft’s VP of Customer Facing Business, UK & Ireland says: “We’re delighted to be working with Gresham House on battery storage projects for the first time. Statkraft looks forward to demonstrating our ability to add value in this space and in future expanding our partnership with Gresham House Energy Storage Fund, who are the largest battery owner in the UK.”
Ben Guest, Managing Director, New Energy at Gresham House and Fund Manager of Gresham House Energy Storage Fund plc says: “We’re impressed with Statkraft’s track record and reputation in renewables and flex trading and are looking forward to working closely with Statkraft on battery projects and growing our relationship in the future.”