Statkraft and Statera Energy have formed a partnership to create 1 GW of energy storage and flexible generation assets in the UK.
Under the deal, Statera will create a portfolio of battery storage and natural gas-powered reciprocating engine-based generating units and add them to Statkraft’s virtual power plant (VPP) and advanced trading platform.
The 15-year partnership will contribute to a reduction in less flexible, fossil fuel-bsed generation in the UK electricity system, the companies said.
“Statkraft recognises the importance of flexible power generation for the provision of secure energy supply in the years to come until multi-day mass energy storage becomes economically viable,” said Duncan Dale, head of Statkraft’s markets business in the UK. “It is vital that any new generation capacity is highly efficient and ultra-flexible, like Statera’s.”
“Everything about these projects suggests that new efficiencies can be made, which means lower carbon emissions and lower costs to the consumer. The energy market and the UK’s transition to a low carbon future should benefit greatly from unlocking this potential.”
Statera, backed by global investment manager InfraRed Capital Partners, will continue to develop, build, own and operate its flexible gas generation and energy storage portfolio throughout the partnership. Statkraft will provide market optimisation, trading and risk management services to the assets.
Statkraft’s VPP is a portfolio of wind power, solar power, battery storage and flexible gas engine assets, which its monitors and optimises in prevailing market conditions as if they a single unit.