Thrive Renewables and Aura Power will launch a joint venture later today offering UK businesses the opportunity to use energy storage systems to cut electricity bills at no extra cost.
The JV plans to install and operate batteries for medium and large energy users free of charge in return for a share of revenues.
“Customers with a mid-range 2MW battery could save more than £1m over a 15-year standard contract,” the partners said.
They are looking at businesses spending around £50,000 a month or more on electricity with steady consumption and spare import capacity.
Thrive Renewables managing director Matthew Clayton said: “We are offering businesses a straightforward solution. We take the investment risk, manage the development, and operate the battery to maximise mutual returns.”
Aura Power director Simon Coulson said: “We are already in advanced talks with several clients including a large dairy, a food processor and a tile manufacturer.”
Thrive owns and operates a 104MW portfolio of wind, hydro and solar assets, while Aura Power’s projects include a 15MW battery at Lockleaze, near Bristol and a 10MW battery at Nevendon in Essex.
Image: Lockleaze storage plant (Smith Brothers)
UK JV offers ‘free’ storage
By EBS