Grid battery owner Gresham House Energy Storage Fund has contracted Habitat Energy to optimise 74MW of its energy storage capacity in the UK.
The multi-year agreements comprise three existing projects.
These are a 20MW battery storage system in Wiltshire, a 5MW battery in Wolverhampton and the recently commissioned 49MW battery located on the Red Scar Business Park outside Preston, which Gresham House Energy Storage Fund acquired on 31 December 2019.
The fund’s grid battery assets will be optimised using Habitat Energy’s PowerIQ platform which uses an algorithmic and machine learning approach to “maximise the value” of storage assets across wholesale markets and revenue streams while “carefully managing” degradation of the assets so as to extend their useful life.
Habitat Energy chief executive Andrew Luers said: “We are delighted to be working in conjunction with the Gresham House Energy Storage Fund and their manager, Gresham House Asset Management, in order to accelerate the deployment of much-needed flexible power assets onto Great Britain’s electricity network.
“Our aim is to provide unique insight for a unique asset class and add value in the short- and long-term for our clients. We share Gresham’s enthusiasm and sense of purpose for the opportunities available in the next few years.”
Ben Guest, who manages the Gresham House Energy Storage Fund, added: “We have been impressed by Habitat’s team, trading acumen and algorithmic trading approach giving us real confidence that they can achieve help us achieve our target revenues for these projects.”
Habitat Energy has developed its own proprietary software for real-time trading, forecasting, and asset modelling to enable its participation in wholesale, balancing and ancillary services markets.