- Habitat Energy has signed a new framework agreement with Gresham House Energy Storage Fund plc (GRID) which extends their battery optimisation partnership to over 500MW.
- The agreement makes Habitat Energy the single largest optimiser of batteries on GRID’s behalf.
- The agreement demonstrates the long-standing partnership between the two companies, who have been working together since 2019.
Habitat Energy, a leading global optimiser of battery storage and renewable energy assets, has signed a framework agreement with Gresham House Energy Storage Fund plc, the UK’s leading energy storage investor, which extends their battery optimisation partnership to over 500MW.
The agreement makes Habitat Energy the single largest optimiser of batteries on GRID’s behalf, with 337MW of new battery storage assets expected to come on-line in the next 12 months.
The two companies have been working together since 2019, and Habitat Energy already optimises some of GRID’s top-performing assets, including Red Scar and Wickham Market.
GRID launched in 2018 and is the UK’s largest fund investing in operational, utility-scale battery energy storage systems. It aims to provide investors with an attractive and sustainable dividend.
A market leader in battery storage, GRID, seeks to capitalise on the growing intraday supply and demand imbalances caused by Great Britain and Ireland’s ever-increasing reliance on renewable energy by using batteries to import and export power, accessing the multiple revenue sources available in the power market.
Habitat Energy was founded in 2017 and has built its technology and team around the belief that the long-term value of battery storage will be driven by opportunities in wholesale trading markets which offer greater depth than traditional ancillary service markets.
The company fuses AI-powered optimisation software with an expert trading team and deep asset intelligence to maximise value for the long-term, working as a strategic partner to asset owners and developers.
The UK has one of the most advanced battery storage markets in the world, with over 14GW of capacity due to come online by 2030. As traditional markets become more saturated, it is essential that asset optimisers develop new products and strategies to assess and unlock value across multiple markets in real-time.
Ben Guest, Fund Manager, Gresham House Energy Storage Fund plc (GRID), said: “Best-in-class asset optimisation is critical to maximise the value of our portfolio and Habitat Energy have proven their ability to deliver. They combine sophisticated trading capabilities and market insight with advanced automation and a deep understanding of our assets. We’re confident that their merchant-first approach will continue to deliver for our portfolio and look forward to growing our partnership in the UK.”
Andrew Luers, CEO of Habitat Energy said: “Energy markets globally are undergoing rapid transformation in the race to net zero, creating huge opportunities for investors. Gresham House Energy Storage Fund is leading the way in the UK battery storage industry and we’re grateful for the trust they have put in our team. This framework agreement reflects our ability to consistently deliver market-leading returns on their behalf, optimising a range of assets, each with unique characteristics, in a complex and rapidly evolving market.”
Habitat Energy now has over 1GW of contracted assets globally and is continuing to expand its operations in Australia and the US, where its fully integrated end-to-end optimisation service is being deployed at stand-alone storage and co-located solar and storage facilities.