Statkraft to optimise Loudwater BESS in the UK
Image courtesy Statkraft
Norwegian power generator and optimisation services company Statkraft has been selected by London-based energy storage developer Eku Energy to optimise their 40MW Loudwater BESS in the UK.
Statkraft and Eku Energy signed a Trading and Optimisation Services agreement for the battery energy storage system (BESS), which is under construction in the UK. The commissioning is expected by mid-2025.
Under the agreement, Statkraft will provide optimisation and trading services to maximise the value of the storage flexibility across the wholesale and ancillary service markets on behalf of Eku Energy.
Nick Heyward, Statkraft’s head of storage for markets in the UK and Ireland, commented in a release: “We’re pleased to be entering into a new partnership with Eku Energy, and welcoming its Loudwater BESS into our market-leading portfolio of flexible assets.
“Through our flexible-asset optimisation capabilities and innovative battery hedging solutions, we look forward to supporting Eku Energy in delivering key energy transition projects such as Loudwater, and we hope to further expand our collaboration in the coming years.”
Have you read:
BW ESS and Zelos advance 1.5GW BESS project pipeline in Germany
SPEN advances network projects as SSE breaks ground on its largest BESS
The agreement brings Statkraft’s contracted capacity in its third-party distributed flexible generation and battery storage optimisation portfolio to approximately 2.7GW in Great Britain.
Statkraft’s flexible generation optimisation and trading services business was launched in 2018. The deal with Eku energy deal adds to the range of customers joining Statkraft’s flex portfolio, which they say now includes around a quarter of third-party flex in the market.
Statkraft’s London-based team has over 4.5GW of long-term renewable PPAs under contract, almost all of which is third party.
Recent innovative solutions for customers have included industry-firsts such as forward trades on battery assets and a Quality Factor Index Swap.
According to the company, future ambitions include playing a big part in supporting green hydrogen projects in the UK.
Said Elias Saba, chief technology officer at Eku Energy: “We are delighted to be partnering with Statkraft for the optimisation and trading of our Loudwater battery.
“Throughout our engagement, Statkraft demonstrated their advanced optimisation capabilities and innovative trading offerings and we look forward to working with Statkraft on maximising the value of Loudwater BESS.”
The Loudwater BESS is Eku Energy’s second battery asset to enter construction in the UK.
