Average reading time for this story is 1 minutes
Gresham House Energy Storage Fund plc, the UK’s largest listed battery storage fund, has selected EDF to optimise its new 50MW battery site at Wickham Market. Capable of storing 75MWh of energy, this is the UK’s largest battery installed to date.
The deal will see EDF, alongside controls partner Upside Energy, direct the battery’s energy flow into all markets including Dynamic Containment, generating revenue for the fund both within and outside National Grid relationships. The agreement leverages EDF’s industry-leading trading expertise and results from EDF’s proven track record maximising revenues for two of the fund’s other assets, at Littlebrook and Rufford, which were signed up in September 2019.
EDF has supported Gresham House Energy Storage Fund through the asset’s initial energisation period. Now that the site is successfully operational, EDF will operate the asset to deliver optimal value and minimise battery degradation. The site will utilise EDF’s innovative Powershift platform, which is already optimising a range of storage technologies across the UK.
Ben Guest, Managing Director of Gresham House New Energy said: “We are committed to giving our strongest-performing partners the opportunity to grow their relationship with us, as our operating asset base grows. We look forward to working together with the team at Wickham Market.”
Stuart Fenner, Head of Energy Trading Services at EDF added: “The UK’s transition to a low-carbon future will increasingly draw on the flexibility of assets such as these. We are determined to play a major role in this market and are excited to support Gresham House from the outset with this project. This deal reinforces our commitment to helping Britain achieve net zero carbon emissions and supports our position as a leader in battery optimisation services in the UK. Our highly skilled trading teams are able to develop and execute a range of trading strategies to deliver maximum value for our clients.”