EDF Energy has landed a contract from battery storage investor Gresham House to optimise a 20MW storage project, opening it up to a wealth of new revenue streams.
EDF will take the reins of the project, as well as 4MW of generation assets, alongside technology partner Upside Energy and optimise its use of ancillary services, load shifting and wholesale markets for revenue, utilising the energy company’s PowerShift platform.
Ben Guest, head of Gresham House New Energy and the storage fund’s lead fund manager, said that its storage portfolio was aimed at securing sustainable financial returns for investors whilst simultaneously supporting a transition away from fossil fuels.
“Asset optimisation is the largest contributor to revenues and through this partnership with EDF Energy we are able to broaden our revenue stack and provide our investors with certainty despite the shifting regulatory environment,” Guest added.
As the UK’s operational battery storage continues to swell, asset holders are increasingly turning to external companies and aggregators to maximise returns on investment. This has included optimising an asset’s revenue stack and ensuring that they are bidding into as many services markets as possible.
This has been reflected in a wider trend among UK battery storage assets to have a more diverse range of revenue streams than before.
Vincent de Rul, director of energy solutions at EDF Energy, said last month’s blackout in the UK highlighted how important it was a time for battery storage in the UK.
“The UK’s successful transition to a low-carbon future will increasingly draw on optimisation of assets like these alongside low-carbon generation,” he said.