Eelpower’s 10MW battery storage facility at Leverton, near Lincoln, was one of the first cohort of large batteries that provides frequency response and other balancing services to National Grid.
A stand-alone energy barn houses eight 1.25MW lithium-ion based batteries. Together, the facility supports National Grid by underpinning security of supply and helping to reduce energy costs for customers during periods of high demand.
In 2020, Eelpower agreed a seven-year contract with Centrica Business Solutions for the optimisation of this battery plant.
Through a multi-market approach, Centrica Business Solutions looks for opportunities to support the balancing of the grid network, with the aim of maximising revenues through intelligent asset optimisation. Opportunities can be identified from months in advance, right up to real-time.
Harnessing our proprietary, market leading FlexPond™ platform, Centrica Business Solutions’ in-house experts monitor available markets 24/7 and carefully manage the battery’s state of charge. This enables the battery assets to be maximised across multiple flexibility markets, while simplifying the process and eliminating risk for Eelpower.
Centrica Business Solutions ensures that Eelpower’s flexibility is rewarded by a guaranteed revenue stream, whilst also safeguarding the battery by minimising degradation – so that the battery will maximise revenues throughout it’s lifetime.
Having the certainty of return was a very attractive aspect of the proposition from Centrica Business Solutions. We’ve done our due diligence on their FlexPond platform and we’re confident that we’re putting our battery in safe hands.
MARK SIMON, CHIEF EXECUTIVE, EELPOWER
Through the intelligent optimisation of this battery storage facility, Eelpower will receive a guaranteed financial return per MW per year, with additional payments for every battery cycle from day one of the contract and on top of the guarantee. This provides certainty over when their capital investment in the battery will be recovered.
By partnering with Centrica Business Solutions, Eelpower has eliminated the risk and complexity of managing their assets in varying markets, while maximising the value that can be delivered from their assets.
Battery storage is vital for hitting the UK’s net zero commitments, yet investor confidence remains low due to the relatively new technology application. By offering guaranteed returns and ensuring that the battery is active across numerous markets, Centrica Business Solutions can ensure the typical return on investment that investors require.
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