The 10MW Lower Road project in Essex and the 9MW Port of Tilbury projects have all land rights, planning and other consents and grid access rights in place necessary to start construction and enter operations.
They also have a number of revenue streams already attached to them, including two firm frequency response (FFR) contracts to begin on 30 October 2019, with the construction of both expected to be completed in Q2 next year.
The six-month FFR contracts will be followed by fulfilment of 12- and 15-year contracts secured in the T-4 Capacity Market auction for Port of Tilbury and Lower Road respectively.
As a behind-the-meter project, the 9MW project will also participate in Triad avoidance at London’s Port of Tilbury industrial port facility. Triad is the UK’s winter peak time-of-use charging for commercial and industrial ratepayers. Origami Energy, a creator of digital platforms and technologies for energy market participation as well as a developer of energy storage projects, will provide real-time monitoring, control and operation of the batteries once completed and will also bid for multiple new contracts to maintain the projects at full utilisation once commissioned.
Gore Street Capital launched the UK’s first listed fund for energy storage projects, Gore Street Energy Storage Fund (GSESF), in March of this year.
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