EDF and Eelpower partner up
Published by Bella Weetch,
Editorial Assistant
Energy Global,
Eelpower, one of the pioneer investors and operators of large-scale commercial energy storage assets in the UK, have selected EDF as its next trading and optimisation partner. The partnership will involve the trading and optimisation of three grid-scale battery projects located in the UK, totalling 80 MW, and reinforces EDF’s commitment to helping the country achieve net-zero.
EDF’s specialist teams will be responsible for managing the trading and optimisation strategy for three UK-based batteries managed by Eelpower over a period of seven years. Majority ownership of the assets lies with Swiss fund manager SUSI Partners’ Energy Storage Fund, while the remaining stake is owned by Eelpower itself. The two companies announced a broader partnership for the development of battery storage assets across the UK in January 2021.
Utilising EDF’s market leading trading platform, Powershift, the deal will see EDF, working alongside Eelpower’s technology partner, Upside Energy, open revenue streams for these assets, including ancillary services, balancing mechanism and wholesale optimisation. The agreement will also provide bankable reassurance through the delivery of a floor price, ensuring minimum income levels are guaranteed, which has been a key element for the investors.
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Energy Global’s Winter 2020 issue
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Read the article online at: https://www.energyglobal.com/energy-storage/01032021/edf-and-eelpower-partner-up/
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