Arenko has been awarded contracts to optimise a further 455MW of Gresham House Energy Storage Fund’s battery storage assets in an expansion of the pair’s multi-year relationship.
Having been working together since 2020, Arenko has now been awarded contracts to carry out asset optimisation on an additional five utility-scale battery storage assets for Gresham House. Totalling 210MW, the contracts are expected to come into force during this year.
An additional framework agreement has also been signed to optimise a further 215MW, while Gresham House has renewed the Byers Brae contract, which Arenko has been optimising since March 2021.
These new agreements mean that Arenko has been awarded contracts for the asset optimisation of over 500MW of Gresham House’s energy storage portfolio in total.
Under the agreements, Arenko will use its end-to-end trade optimisation and automated dispatch software to maximise returns from the battery storage assets.
“Gresham House Energy Storage Fund have done a fantastic job scaling their impressive battery portfolio and we are delighted to be entrusted to maximise profit and keep pace with the rapidly decarbonising UK electricity market,” Rupert Newland, founder and CEO of Arenko Group, said.
The two companies began working together following Gresham House’s acquisition of the 41MW Bloxwich energy storage project, with Arenko still optimising the asset.
Last year, Arenko signed optimisation agreements with a number of companies, including Vattenfall for a 22MW/16MWh battery energy storage system (BESS), Gore Street Energy Storage Fund for a 10MW BESS and Foresight for a 50MW BESS.
It also became the first to qualify a non-Balancing Mechanism Unit while complying with Dynamic Containment’s requirement for real time monitoring.