Global investment manager Quinbrook Infrastructure Partners has acquired UK-based optimisation and trading platform Habitat Energy Limited.
The acquisition will help Habitat to develop its technology suite and advanced machine learning capabilities. The company uses advanced machine learning and algorithmic capabilities to optimise battery storage assets within deregulated power markets, both stand-alone and co-located with renewables.
Last year, it became the second company to enter the UK’s Balancing Mechanism as a Virtual Lead Party (VLP), a route which allows smaller providers to take part in the flexibility tool. Additionally, the company is one of the largest providers of Dynamic Containment services to National Grid ESO.
In June, Habitat Energy spoke as part of Current±'s Briefings webinar on Dynamic Containment.
Additionally, Habitat's acquisition will help it to continue its expansion into Australian and the US, where it will focus on the ERCOT market in Texas, followed by other US independent system operators (ISOs) shortly after.
In May, the company partnered with one of the world's largest solar technology and renewable energy companies, Canadian Solar to help aid its expansion across the UK, Australia and the US.
Andrew Luers, co-founder and CEO of Habitat Energy said: “It continues to be our belief that this combination of AI and human power trading expertise is essential to deliver the full potential of battery storage, and to provide the flexibility that reliable, renewables-based power systems require.
“We look forward to working with the Quinbrook team as we expand the scope and reach of Habitat Energy’s activities and services to our clients and we are optimistic about the impact we will have together in this next phase of our company’s journey.”
The acquisition will strengthen Quinbrook’s flexible energy solutions and storage capabilities, and build on its previous acquisitions of Flexitricity and Velox Power – both platforms in the UK that specialize in demand side response.
Additionally, the imminent completion of the company’s Rassau synchronous condenser in Wales will further solidify its move into grid support infrastructure, the company said.
“We believe that the net zero power systems of tomorrow are moving rapidly and inexorably to a place where renewable power assets and storage in all its forms will be managed and optimised with advanced algorithmic capabilities,” said David Scaysbrook, managing partner at Quinbrook. “The transactional velocity and complexity will quickly overwhelm the ability of current practices to cope with the scale of the transition now underway.
“We believe Habitat is truly ahead of the game in devising ‘state of the art’ methods at the leading edge of data science combined with the power markets know-how to maintain competitive edge.”