EDF Energy, headquartered in London, UK, has agreed a partnership agreement with London-based Zenobe Energy Limited, to build out its grid-scale battery portfolio assets. The deal will see EDF will provide Zenobe with a floor price on its 59 megawatt operational battery assets in Claredown, Aylesford and Kings Barn. It includes contracts for supply and offtake of energy, Energyvoice.com reports.
The deal also enables Zenobe to work collaboratively with EDF’s trading team and select asset trading strategies in line with evolving market conditions.
Zenobe’s founder director Steven Meersman said: “This structure offers us a great deal of optionality. We can continue to build on our market leading bidding capability for balancing services and leverage EDF’s outstanding trading team through their Powershift trading platform to enhance revenue. It allows us to retain overall control on allocating the assets for maximum benefit. We’ve been impressed by the EDF team’s ability to respond to the commercial needs of an owner-operator such as ourselves with a really flexible, innovative deal structure.”
Stuart Fenner, Commercial lead at EDF added: “We are determined to play a major role in this market. This deal with one of the leading owner-operators in the UK demonstrates the strength of both our trading team’s expertise and our commercial scale as an organization which has enabled us to develop a truly innovative deal for Zenobe. We’re a key player in the distributed energy asset management sector in Europe and we intend to build on this success as we grow our UK portfolio.”