Statkraft signs BESS optimisation agreement with Pulse Clean Energy

Statkraft, a leading provider of market access and optimisation services, has signed its first long-term agreement with Pulse Clean Energy, a leader in energy storage, to optimise Penn Battery Energy Storage System (BESS).

Penn BESS, which will be located near Wolverhampton, is a 128MW distribution-connected scheme. Under the agreement, Statkraft will provide trading and optimisation services for Penn BESS, in addition to an innovative long-term income guarantee to support the financing of this new project, which is expected to be operational in early 2028. Once operational, it will save 30,000 tonnes of carbon dioxide per year - the equivalent of taking roughly 6,500 petrol cars off the road.

Batteries enable energy from renewable sources to be stored during times of low demand and dispatched at times of peak electricity demand, meaning the grid becomes less dependent on importing oil and gas from abroad, leading to greater energy security and more stable energy bills.

Pulse Clean Energy is a fast-growing UK developer and operator of battery storage, with a growing pipeline of projects supporting the decarbonisation of the electricity system and enabling greater integration of renewable generation. 

This latest agreement adds to Statkraft’s expanding 4.3GW portfolio of flexible assets in Great Britain, where the company continues to partner with asset-owners to deliver reliable, high-performance route-to-market solutions.

Statkraft’s proprietary trading platforms enable asset optimisation tailored to each asset's characteristics and the owner's appetite for risk, delivering a market-leading cross-market optimisation with extensive transparency and benchmarking for assets in order to maximise revenues within agreed parameters.

Nick Heyward, Statkraft’s Head of Storage for Markets, UK and Ireland, said: “It is great to be welcoming Pulse Clean Energy as a new customer into our portfolio, and to be working with them on optimising the Penn BESS project. Developed by Pulse’s experienced team, this new scheme is well located to provide valuable flexibility to the system. 

“With our experience in optimisation and trading across all relevant markets, combined with innovative hedging solutions, we look forward to maximising the performance of the project over the long term.”

Trevor Wills, CEO of Pulse Clean Energy, said: “We are delighted to partner with Statkraft on our Penn project. Their strong track record in optimisation and market access gives us confidence that the asset will achieve strong and stable returns, supporting the continued growth of our battery portfolio.

“Battery storage is essential to delivering a flexible, low-cost, and future proofed energy system, and partnerships like this are key to unlocking the full potential of these assets.”