Smart energy company GridBeyond has signed a deal with Stagecoach to optimise its electric vehicle (EV) fleet and integrate renewable energy into its business strategy.
Stagecoach, regarded as one of the largest bus operators in the UK, will use the partnership to participate in the Capacity Market from October 2024 and explore other opportunities to support the grid via the energy transition.
Stagecoach aims to support the grid by participating in the Capacity Market, with this support targeted for times when there is a high risk of a system stress event. Additionally, the firm will look to reduce the total cost of ownership from its fleet transition to electric vehicles (EVs) by earning revenues through participation in the Capacity Market.
As bus companies increase their EV fleets, new opportunities could arise to use this load not only as consumers but also as contributors to the power grid and its decarbonisation.
GridBeyond head of EV Solutions Michael Kent said: “There are many opportunities for EV fleet operators to support the grid and become a key player in supporting the energy transition.
“We look forward to working together with Stagecoach and to start the Capacity Market programme. The long term contract is a recognition of GridBeyond’s expertise and capabilities.”
GridBeyond on the PPA market and the rise of AI
Earlier this year, Current± sat down with Neil Garland, head of origination in the UK, at GridBeyond to find out more about power purchase agreements, as well as some of the challenges and observations from the market, including the topic of artificial intelligence (AI).
