Energy investment innovators Gore Street Energy Storage Fund have chosen French-owned EDF to optimise clean power trades from its new 80MW battery.
Located at Stony, Milton Keynes, the battery energy storage system (BESS) began its working life at the end of last month.
EDF now manages the device through its Powershift platform, accessing revenues and power trades including the Balancing Mechanism, wholesale deals and ancillary services.
The French-state dominated owner already manages two 20MW batteries in Britain on behalf of Gore Street. Adding 80MW in Milton Keynes brings the fund’s operational portfolio to over 370MW.
A leading operator of utility-scale batteries, Gore Street has existing installed capacity close to 110MW online in the UK, forming part of a 292MW operational portfolio across four national energy markets.
“EDF’s commercial offer represented best value for Gore Street Energy Storage Fund”, said Alicja Kowalewska-Montfort, technical principal at Gore Street Capital, the eponymous fund’s investment manager.
“EDF has a strong track record with two of our existing assets, making the agreement to take on Stony a natural progression based on consistently good performance.
Stuart Fenner, EDF’s director of wholesale market services, said: “We are very pleased that Gore Street Energy Storage Fund has once again chosen EDF as its trading and optimisation partner. We are committed to continuing to strengthen our relationship into the future.
“This partnership will provide essential flexibility to the energy system and reinforces EDF’s commitment to helping Britain achieve net zero.”
Gore Street Energy Storage Fund launched in May 2018, as the first such internationally diversified storage fund to be quoted on the London Stock Exchange. Its portfolio totals 1.17GW across battery storage facilities in Great Britain and Ireland, the mainland of western Europe and in the USA.