Energy storage operator Eelpower has selected EDF as a trading and optimising partner for three of its batteries.
Collectively the three assets have a total capacity of 80MW, which EDF will now trade and optimise for a period of over seven years.
The batteries are majority owned by Swiss fund manager SUSI Partners’ Energy Storage Fund, with Eelpower owning the remaining stakes itself. They form part of a broader partnership between the two companies for the development of battery storage, announced in January 2021.
EDF’s Powershift trading platform will be utilised to open revenue streams for the assets, with the French giant working alongside Eelpower’s technology partner Upside Energy. This will include playing the assets in ancillary services, the balancing mechanism and wholesale optimisation.
Stuart Fenner, head of Energy Trading Services at EDF, said they were really pleased to be chosen as optimisation partner for the projects.
“Partnerships with early innovators such as Eelpower are testament to our highly skilled teams and the work that has been put into building our track record for first class trading and optimisation services. As a leading battery optimisation services provider, we look forward to supporting Eelpower in delivering maximum value whilst managing investment risks.
“The combination of our trading expertise and ability to provide an attractive price floor brings a unique offering to the battery storage marketplace.”
It follows a slew of optimisation deals signed by EDF in recent months. This includes working with Gresham House Energy Storage Fund to optimise its 50MW Wickham Market battery and optimising SWGT‘s 30MW utility-scale battery.
The company is also working to build up its own battery portfolio, investing in cleantech startup PowerUp to support its 10GW of storage by 2035 ambition.
“EDF has a great track record for generating revenue through wholesale trading and optimisation.,” said Mark Simon, Eelpower CEO. “The EDF team has been a genuine innovator in the delivery of market-leading optimisation services and we have undertaken a detailed contestable procurement before selecting them.”
In December, Eelpower announced a similar deal, selecting Centrica Business Solutions to optimise its 10MW Leverton storage project.