Eelpower has been investing and operating large-scale commercial storage assets for a long time in the United Kingdom (UK). It is no secret that it has been doing this ever since the early days of this agreement. However, since change is as good as rest, it has decided to incorporate EDF to be part of its venture, optimizing and trading. With the partnership’s help, optimizing and trading a trio of grid-scale battery projects will become a reality. All three projects are within the boundaries of the UK, and their capacity is 80 MW. The collaboration will also play a massive role in ensuring the British hit its Net-zero target, which is something the EDF committed to, no doubt.
Eelpower is the company in charge of the three projects, and EDF comes in for optimization and trading. It is important to note that this partnership will last for up to seven years. Interestingly, whereas Ealpower owns assets, most of them belong to SUSI Partners’ Energy Storage Fund. In January 2021, these two also agreed to develop battery storage assets in the UK.
EDF is known for having a market trading platform that’s quite effective by the name Powershift. With that and Upside Energy, an Ealpower technology partner, the two will open the assets’ revenue streams. Income-generating streams will include wholesale optimization, balancing mechanisms, and ancillary services. Since the agreement guarantees the provision of a floor price, the bankable reassurance will see to it that investors have a minimum income levels guarantee as well.
According to Stuart Fenner, EDF’s Head of Trading Services, EDF is happy to be the choice that Ealpower settled for as a partner. He also acknowledged that the agreement covers several of Eelpower’s battery storage projects and optimizes and trades. He also added that the partnership speaks volumes regarding the company’s track record. After all, Ealpower is one of the pioneer innovators, and the fact that it chose EDF is a clear indication that the latter’s team has high skills. Its efforts in becoming excellent in its field, trading, and optimization, have also paid off.
As far as Stuart is concerned, EDF will give Ealpower the best trading and optimization services, given that they are leading in this particular market. His company is also quite eager to collaborate and support Eelpower in managing investment risks without compromising the maximum value possible. They are banking on their trading skills and delivery capabilities to secure excellent price floors that will stand out in the battery storage market. On the other hand, Eelpower CEO Mark Simon also acknowledged how EDF is genuine in innovation.https://globeoftech.com/