Flexitricity and Thrive Renewables have signed an optimisation agreement for a 20MW battery energy storage system (BESS) as they continue the expansion of the UK’s storage sector.
Subject to the agreement, the two firms will develop the BESS in Thrive’s Feeder Road site in Bristol, bolstering the South West city’s renewables energy resources.
Using a virtual power plant platform, the lithium-ion BESS site will be both monitored and dynamically optimised from Flexitricity’s control room in Edinburgh.
The BESS will operate across a range of different markets, including frequency response, wholesale traded power, balancing mechanisms and emerging flexibility services.
“Energy storage has a vital role to play in helping the UK transition to net zero and Flexitricity is ideally placed to maximise revenue for asset owners, enabling them to create a solid business case for investment in more green energy projects,” said Andy Lowe, CEO at Flexitricity.
“An agreement with Thrive, who are at the forefront of the renewable energy sector, brings great synergies and we are thrilled to have them onboard.”
The new agreement comes at a time where investors are becoming increasingly interested in battery storage as projects become more profitable and cost-effective, according to industry experts.
Increasing battery storage capacity is a vitally important aspect of the energy transition. With the UK focusing predominantly on intermittent solar and wind energy as part of its transition, having sufficient energy storage will be needed to cater for the growing capacity.
To keep the rapid rollout of battery energy storage projects, stacking value and optimisation have been regarded as crucial components in maintaining attractive investment opportunities, according to a new GridBeyond and Thrive Renewables white paper.
An increase in battery supplier investment, however, could overcrowd the market, leading to less interest. Because of this, optimisation and stacking value must be utilised to maintain investor attraction, the paper said.
Thrive continued its build out of renewables with the launch of a new crowdfunding offer in June 2022, which is aiming to raise £5 million for its solar, battery storage and onshore wind activities.
“This deal with Flexitricity demonstrates the potential of smaller battery projects to be optimised as part of a larger virtual power plant to provide a significant flexibility resource to the grid,” said Monika Paplaczyk, investment director at Thrive Renewables.
“This means ultimately, we can make better use of the abundant renewable resources available to us. Feeder Road is our second battery storage site and holds a special place in our hearts being based in our hometown. It is a great demonstration of Bristol’s place at the forefront of the UK energy transition.”