Zenobe Energy has partnered with EDF to trade and optimise 59 MW of its grid scale battery portfolio, consisting of Zenobe’s already operational battery assets in Claredown, Aylesford and Kings Barn.
Courtesy of Zenobe
The new partnership will extend Zenobe’s access to the wholesale market and balancing mechanism by utilising EDF’s industry leading trading expertise and includes contracts for supply and offtake of energy.
The two companies will work together to maximise return on investments. The deal enables Zenobe to work collaboratively with EDF’s trading team and select asset trading strategies in line with fast evolving market conditions. EDF will provide Zenobe with a floor price ensuring minimum income levels are protected.
“This structure offers us a great deal of optionality” said Zenobe’s founder director Steven Meersman. “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.”