Habitat Energy has announced that it has successfully reached an agreement with the Gresham House Energy Storage Fund to optimize 74 MW of Energy Storage System (ESS) projects in the UK.
The multi-year agreements comprise three existing projects: a 20-MW ESS in Wiltshire, a 5-MW ESS in Wolverhampton and the recently-commissioned 49-MW ESS project located on the Red Scar Business Park outside Preston which the Fund acquired on 31 December 2019.
The Gresham House Energy Storage Fund’s (The Fund) facilities are being optimized using Habitat Energy’s market-leading PowerIQ platform, which uses an algorithmic and machine learning approach to maximize the value of storage assets across wholesale markets whilst carefully managing degradation of the assets so as to extend their useful life.
Andrew Luers, CEO of Habitat Energy, 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, managing director of New Energy at Gresham House Asset Management, Manager of the Gresham House Energy Storage Fund said, “We are proud to have selected Habitat Energy for the optimization of these projects. 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.