Arenko has signed a new agreement with Foresight to optimise its 50MW Sandridge energy storage asset.
When operational in 2022, Arenko’s end-to-end trade optimisation and automated dispatch software will trade Sandridge in a number of markets, increasing Foresight’s return on investment.
Rupert Newland, founder and CEO of Arenko Group, said the company was pleased to have signed another “major contract with a leading infrastructure investment manager in Foresight Group”.
The deal follows Arenko signing a software license agreement with a “major” listed energy infrastructure company earlier this week.
In July, the company also signed a contract to optimise Vattenfall’s 22MW/16MWh battery, the first battery storage site to be co-located with a wind farm in the UK. In February, the company also began optimising Gore Street Energy Storage Fund’s 10MW battery asset.
Sandridge was Foresight’s first battery acquisition, acquiring a 50% share of the asset in May along with JLEN, which acquired the remaining 50%.
“We are pleased to be optimising the Sandridge storage asset together with Arenko,” said Fuad Yusibov, investment manager at the Foresight Group. “We have been very impressed with Arenko’s track record, technical capabilities and commercial proactivity.”
The deal follows Foresight signing a deal with Flexitricity to optimise its new 49.9MW West Gourdie battery site.