Statkraft has announced a new milestone, as its third-party distributed flexible generation and storage portfolio exceeds 1.2GW of installed capacity.
As such, it now manages over 22% of the total capacity in this market, the renewable energy generator said. Its portfolio is made up of 105 assets, owned by 16 customers and managed under power purchase agreements.
The company highlighted the importance of flexibility assets amid the current energy crisis, as to ensure energy security and avoid volatile gas prices going forwards, the share of renewables will need to be dramatically increased.
As such, Statkraft’s milestone comes at a “critical time for the UK energy market,” said Duncan Dale, VP for customer facing business UK & Ireland.
“There has never been a more important moment for renewables which are generated locally and the flex services that support them in the UK market. By reliably working in partnership with our customers and “baking a bigger cake” through better optimisation, we will continue to expand our portfolio. This will improve the stability of the grid and help to protect consumers from market volatility.”
Dale wrote a blog for Current± in January on the critical role of flexibility in the UK’s energy transition.
Over the past year, Statkraft has signed a number of key contracts to expand its portfolio, including for 100MW of Gore Street Energy Storage Fund and Low Carbon storage projects in Northern Ireland.
As well as its expansion in the UK, it also signed a deal to optimise a portfolio of over 68MW of battery energy storage for RWE in Ireland last year.