Flexitricity has agreed a deal with Gore Street Capital to provide optimisation services for a 155MW portfolio of six lithium-ion battery storage sites.
The batteries will be incorporated into the aggregator’s growing fleet of flexible energy assets and traded in multiple markets, including the Balancing Mechanism and frequency response, wholesale and local flexibility markets.
Flexitricity will monitor and optimise the batteries from its control room in Edinburgh. The latest additions bring the total size of its so-called virtual power plant to more than 800MW, including 320MW of battery storage across 14 sites.
The deal is an extension to an existing partnership with Gore Street Capital, which manages the Gore Street Energy Storage Fund – the first such fund to be listed in London.
Flexitricity chief executive Andy Lowe said: “Energy storage has a vital role to play in helping the UK transition to net zero and rapidly decarbonise the power sector. Gore Street and Flexitricity have been early innovators in the emerging storage industry which is set to achieve extraordinary growth in coming years.
“The markets and services which energy storage can uniquely serve are going through significant and necessary change. We see great opportunities ahead for these flexible assets and the contribution they make to supporting the UK grid and enabling the increased build-out of carbon free renewables to deliver on the UK’s net zero ambition.”
Alex O’Cinneide, chief executive of Gore Street Capital, said: “As a leading provider of flexible assets’ optimisation services, we have been very pleased with Flexitricity’s work to date and are delighted that we are able to continue our partnership with this 155MW optimisation deal.
“The transition to a low carbon economy is one of the most important challenges of our generation and would simply not be achievable without valuable partnerships as well as the products and services provided by companies such as Gore Street and Flexitricity.”