Kiwi Power has added 15MW of battery storage to its management portfolio.
The aggregator has signed an optimisation agreement with Gresham House New Energy for its Lockleaze battery in Bristol, which goes live later this month.
It will trade flexibility across ancillary services and balancing markets in a bid to maximise revenues for the fund manager.
Kiwi said the addition means it is on track to reach 80MW of storage under management by the year end, which suggests it will add a further 20MW over the next couple of months.
As well as appointing a new CEO, Jay Zoellner, in recent weeks, the company has hired a new head of optimisation, Thomas Jennings, who promised to “hunt value” for the Lockleaze asset.
Gresham House New Energy MD, Ben Guest, said storage “offers an attractive new asset class for investors wanting to support the UK’s transition to a cleaner, more sustainable future” and expressed confidence in Kiwi’s ability to squeeze value from its investment.