Zenobe Energy Limited, the UK’s leading independent owner and operator of battery storage, has announced a ground-breaking collaboration with Open Energi Limited, London, United Kingdtom, and Erova Energy Limited, Dublin, Ireland, to further enhance the optimization and trading of Zenobe’s 10MW grid-scale battery at its Hill Farm site. The first-of-its-kind project will use the Dynamic Demand 2.0 Trader solution, a system developed by Open Energi and Erova Energy, to maximize availability and revenue of the energy storage asset.
Zenobe Energy’s battery at Hill Farm will be the first to utilise Dynamic Demand 2.0 Trader, the optimization and trading product created by Open Energi and Erova Energy for energy storage assets. Dynamic Demand 2.0 Trader combines Open Energi’s advanced algorithmic optimization platform, IP backed warranty and degradation protection software with Erova Energy’s market-leading, 24/7 short-term trading expertise and insights. By making continuous calculations over different time horizons as market opportunities evolve, Dynamic Demand 2.0 Trader algorithmically takes positions and rebalances state of charge.
In addition, Dynamic Demand 2.0 Trader will provide Zenobe’s battery with access to Balancing Mechanism revenues for the first time (as well as wholesale and ancillary service and capacity markets), ensuring full exposure to the widest range of flexible markets.
Balancing Mechanism revenues for batteries continue to increase as distributed assets form the backbone of National Grid’s zero carbon capability targets. The importance of this market is underlined by increased Balancing Mechanism activity during the nationwide lockdown. However, in the rapidly evolving flexibility marketplace, ensuring the ability to participate in different markets and to undertake different strategies as opportunities emerge is essential to generating the maximum benefit from storage assets.
Zenobe Energy provides custom, end-to-end power solutions that substantially lower costs and reduce carbon emissions. By partnering with Open Energi, a technology firm which uses artificial intelligence to automate and optimize distributed energy resources across energy markets, and Erova Energy, a short-term power trading firm, Zenobe Energy is bringing the UK’s energy market into a more efficient and cleaner future.
Steven Meersman, co-founder at Zenobe Energy, said:
“We are very happy to continue to build on the great work done to date with Open Energi and extend our joint reach into the Balancing Mechanism as well as wholesale traded markets by including Erova into the partnership.”
David Hill, Commercial Director at Open Energi, said:
“We are really excited to build on our existing relationship with Zenobe to deploy our flagship grid-scale battery storage product, Dynamic Demand 2.0 Trader with Erova Energy for the first time. We believe that our proven track record in trading performance and managing complex warranties with our State of Charge management software will lend itself well to trading in the Balancing Mechanism, where optimisation strategies hinge on energy recovery ability.”
Nick Williams, Head of Origination at Erova Energy, said:
“Erova have been keen to see energy storage continue its growth within the energy mix to help reach ambitious renewable targets. Working alongside Zenobe and Open Energi to demonstrate how our technology and expertise can maximise the value of energy storage assets at this critical time in the energy transition is a really important step in supporting our vision. We are looking forward to working closely with both Zenobe and Open Energi to continue to develop the revenue models and optimisation strategy to support their growth in the market.”
About Zenobe Energy
Zenobē Energy enables its customers to overcome the challenges of climate change. It is one of the largest independent owners and operators of battery storage with c. 170MW of contracted storage assets, around 20% market share of the EV bus sector, its own proprietary software and a large portfolio of projects in the pipeline. Zenobē provides intelligent flexible power solutions to commercial EV fleet operators, utilities and industrial and commercial businesses. The company’s battery storage services help clients manage power more effectively so they can lower costs, improve resilience and reduce their environmental impact.
About Open Energi
Open Energi’s technology automates and optimises a network of distributed energy resources to radically reduce energy costs and provide reliable, real-time flexibility to enable a 100% renewable energy system. The platform uses artificial intelligence to safely co-ordinate distributed energy resources at scale and trade flexibility across energy markets. Ultimately, this enhances our standard of living by helping to deliver as much energy as we want at a standard price and without harming the planet.
About Erova Energy
Erova Energy is a Dublin-based energy trading desk that commenced trading in July 2015 and now has offices in Dublin, London and Amsterdam. Erova has unique expertise in short term traded markets managing the position of over 700MW of renewables with traded volumes in excess of 150 GWh/month across both proprietary and client-based positions. Erova services include interconnector trading, imbalance management, trading of renewable certificates and energy trading risk management solutions. We provide 24 hour shift trading with continuous market coverage 365 days a year.
Source:batteryindustry
