Statkraft and Grid Battery Storage Limited sign first Optimisation Services Agreement for Front of Meter battery storage
Statkraft, Europe’s largest generator of renewable energy and a leading market access service provider has signed the first Optimisation Service Agreement for a grid scale battery with Grid Battery Storage Limited (GBSL), a leading energy storage developer.
For a period of three years Statkraft will provide electricity trading optimisation services and access to the Firm Frequency Response (FFR) market for the 6 MW battery located in Dorking, England. The project is expected to enter operations in September 2018.
“We are thrilled to be working with GBSL and providing route to market and optimisation services for their first operational battery storage project”, says Pieter Schipper, Senior Vice President, Market Access and Continental Assets at Statkraft. “Statkraft is committed to being the leading partner for clients seeking to maximise returns from storage and flexible generation projects. We accomplish this by leveraging our trading teams’ expertise in managing renewables generation in short term energy markets, and our advanced asset optimisation and algorithmic trading capabilities.”
Battery storage is going to revolutionise the UK energy landscape by providing the flexibility necessary to integrate increasing levels of intermittent renewables while maintaining security of supply. Statkraft, with one of the world’s largest Virtual Power Plants, is ideally positioned to manage flexible assets using its advanced algorithmic trading infrastructure in real time. This approach maximises the value of the assets in all available physical markets while supporting the further integration of renewables.
James McKellar, Director and Co-Founder of GBSL said “GBSL found Statkraft to be creative, knowledgeable and committed to finding optimal operating and financial solutions for one of the first investor owned battery storage projects in the UK – it has been a pleasure and an education to work with them in what is a very complicated business”.
About Statkraft UK
Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has 4000 employees in 17 countries.
In the UK Statkraft develops, owns and operates renewable production facilities and is also involved in the trading and origination of power from its own projects and those of third parties.
Since 2006, Statkraft has invested £1.4 billion in the UK's renewable energy infrastructure and facilitated over 6 GW of new-build renewable energy generation through Power Purchase Agreements (PPAs). With a portfolio now exceeding 10 TWh per year from almost 300 customers, Statkraft is the leading provider of short and long term PPAs in the UK.