Edinburgh-based flexible energy specialist Flexitricity and Bristol-based renewable energy investment company Thrive Renewables have entered into an optimisation agreement for a 20MW battery energy storage system (BESS). The deal covers Thrive’s Feeder Road site in its home city and kickstarts an exciting collaboration between the two organisations.
The lithium-ion BESS site will be monitored and dynamically optimised from Flexitricity’s 24/7 control room in Edinburgh. The asset will operate across multiple markets, including frequency response, wholesale traded power, the Balancing Mechanism and emerging flexibility services.
Flexitricity pioneered the demand side response industry in Great Britain over thirteen years ago and has added a host of grid scale and behind-the-meter battery storage projects to its ‘virtual power plant’ platform which aggregates multiple sites benefiting customers as well as the national energy system. Flexitricity has a contracted virtual power plant of over 800MW and this agreement pushes the contracted portfolio of batteries to over 330MW.
Thrive Renewables has been building and operating renewable energy projects in the UK for 28 years. In that time, they have built or funded the construction of 31 renewable energy projects from wind to hydro. Thrive has also invested in solar PV, geothermal, ground source heat and in early commercial scale tidal generation capacity.
The renewable energy company further diversified its portfolio when it launched its first battery storage site, a 5MW site located in Wicken, in 2020. The following year, Thrive continued its development in battery storage with the launch of its Feeder Road site just one mile away from its headquarters in Bristol.
Andy Lowe, CEO at Flexitricity, said: “Energy storage has a vital role to play in helping the UK transition to net zero and Flexitricity is ideally placed to maximise revenue for asset owners, enabling them to create a solid business case for investment in more green energy projects. Therefore, an agreement with Thrive, who are at the forefront of the renewable energy sector, brings great synergies and we are thrilled to have them onboard.”
Monika Paplaczyk, investment director at Thrive Renewables said: “This deal with Flexitricity demonstrates the potential of smaller battery projects to be optimised as part of a larger virtual power plant to provide a significant flexibility resource to the grid. This means ultimately, we can make better use of the abundant renewable resources available to us.
“Feeder Road is our second battery storage site and holds a special place in our hearts being based in our hometown. It is a great demonstration of Bristol's place at the forefront of the UK energy transition.
“Feeder Road will enable further deployment of wind and solar generation and will help to provide the backbone of the resilient, renewables dominated electricity grid the country needs going forward.”
ENDS
About Flexitricity
Flexitricity created and now operates the first, largest and most advanced flexible energy portfolio in Great Britain and has unsurpassed knowledge of the market and its requirements.
Headquartered in Edinburgh, Flexitricity partners with businesses throughout Great Britain to help National Grid and distribution network operators to balance the system. The word “Flexitricity” means “Flexible Electricity”. The company looks for flexibility in electricity consumption and generation, creating revenue for energy users and generators as well as helping to secure energy supplies and balance variable renewable generation. Demand side response and broader flexibility provision will be crucial to achieving a net zero system at lowest overall cost.
Flexitricity’s virtual power plant brings together a wide range of asset types across many industries - from large-scale energy storage projects and gas peakers, hospitals, universities and produce growers to smart homes and EV flexibility.
Flexitricity’s team is fully engaged at industry and regulatory levels and has a track record that demonstrates innovation and delivery success. Many of the ‘firsts’ in the flexibility industry have been achieved by Flexitricity.
Flexitricity is a wholly owned portfolio company of Quinbrook Infrastructure Partners, a specialist investment manager focused exclusively on lower carbon and renewable energy infrastructure investment and operational asset management in the US, UK and Australia.
About Thrive Renewables
Thrive Renewables is a renewable energy investment company. Thanks to its community of over 5,000 investors – large and small – Thrive has been building and operating renewable energy projects in the UK for 28 years.
The company’s portfolio currently comprises 23 operational renewable projects, plus further renewable energy and storage projects in development. With assets under management of £96 million, its portfolio of wind, solar, hydro and other clean energy projects generated over 110,000MWh of electricity in 2021.
Vision: We believe in a clean, smart energy system powered by the investment of many.
Mission: To power the transition to a sustainable energy future by helping people meaningfully connect with clean energy projects.
https://www.thriverenewables.co.uk/
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