Wednesday 25 September 2019

EDF Energy signs deal to provide optimisation services for Gresham House

EDF Energy has signed a deal with Gresham House, which will see it provide wholesale market optimisation for 24MW of assets.

Gresham House New Energy has chosen EDF Energy to optimise 20MW of battery storage and 4MW of generation assets owned by its Energy Storage Fund.

The deal will see EDF Energy, alongside technology partner Upside Energy, provide three streams of revenue -  the first of these, ancillary services, will see it will manage the asset on all the services and programmes available through the National Grid.

In addition, load shifting will see EDF Energy dispatch assets according to non-energy costs and TRIAD forecasts, while a third source of revenue will be wholesale optimisation, which will see EDF dispatch each asset against day ahead, within day and cash out prices, as well using the balancing mechanism.

Gresham House New Energy says it was attracted to EDF Energy due to its extensive trading capabilities, financial credibility and use of innovative technologies.

It notes battery storage is an increasingly important part of the energy system, supporting decarbonisation, the adoption of renewable energy sources and increased resilience.

Ben Guest, Head of Gresham House New Energy, said: “Our battery storage portfolio aims to generate sustainable financial returns for our investors while supporting the UK’s transition away from fossil fuels and towards clean energy.

"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."