Software provider Arenko has secured a deal with Gore Street Energy Storage Fund, the companies exclusively told our sister site, Solar Power Portal.
The deal will see Gore Street Energy Storage Fund use Arenko’s Nimbus software across its operational portfolio. Over the next six months, an initial 18 grid-scale battery energy storage projects, with a capacity totalling just under 500MW, will be onboarded onto the AI-enabled Nimbus platform. The first asset is expected to be fully integrated within a few weeks of the deal’s completion.
The deal will see Gore Street provide standardised data, advanced multimarket dispatch, enhanced asset operations capabilities, real-time asset telemetry, performance insights, and alerting and reporting capabilities designed to help drive technical performance across its portfolio.
The beta version of the Nimbus platform was launched in November 2022, pledging to enable battery developers and asset owners to accurately monitor and track the performance of a battery within a project. In doing so, owners can effectively check the status of the technology and optimise projects accordingly.
It standardises data flows, streamlines connectivity and integrations with existing IT systems and third-party software, and automates key processes for asset managers.
Alex O’Cinneide, CEO of Gore Street Capital, which is the energy storage fund’s investment manager, said the integration is an “exciting step” in the company’s “data-driven asset management approach”.
He continued: “This integration streamlines our capabilities to optimise projects and enhances the tools available to maximise commercial revenues. In addition, it delivers significant safety benefits and unlocks Opex improvements available from our industry-leading portfolio insurance policy.”
Arenko founder and CEO, Rupert Newland, said: “This deal is further evidence of a growing trend among the most advanced asset owners using software to drive performance across their portfolios, projects and stakeholders.”
This is not the first time the companies have collaborated to optimise Gore Street assets. The software company provided its services as a route to market for a 10MW Gore Street asset, enabling the battery asset to enhance its financial and technical performance in 2021.
Recently, Arenko signed a similar asset management deal with Varco Energy, a UK-based battery asset owner with a pipeline of three long-duration storage projects (LDES). At the beginning of this year, Arenko said Nimbus was operating roughly 600MW of battery capacity and committed to a long-term pipeline of 2GW.
The full version of this article is available on Solar Power Portal.