UK Power Reserve and Fluence Expand Partnership to Record-Breaking 120MW Battery Energy Storage Portfolio Transaction
UK Power Reserve and Fluence Expand Partnership to Record-Breaking 120MW Battery Energy Storage Portfolio Transaction
SOLIHULL, England & ARLINGTON, Va.: UK Power Reserve announced today the awarding of the second phase of its battery-based energy storage portfolio contracts to Fluence, a Siemens and AES company. UK Power Reserve secured the portfolio of ultra-fast energy storage projects in the 2016 Capacity Market auction. The expanded partnership between UK Power Reserve and Fluence, a market-leading global provider of energy storage technology and services, for the full 120MW portfolio represents one of Europe’s largest battery-based energy storage projects, demonstrating both business’ commitment to flexible energy solutions. The full 120MW of projects represents the largest contracted energy storage portfolio transaction to date globally.
UK Power Reserve’s projects will utilize Fluence’s technology to provide much-needed flexibility for the United Kingdom grid as it modernises to accommodate increasing levels of renewable generation. The sites are required to be online by winter 2020, but the entire portfolio will be delivered by end of summer 2019 – well ahead of schedule.
Sam Wither, Head of UKPR, said, “By splitting our portfolio into two 60MW sets of projects, we’ve had the opportunity to fully assess the market and took a nimble approach to keep up with this rapidly evolving space. Fluence and its Advancion technology again proved their worth throughout this highly competitive process.”
The additional 60 MW of battery storage projects, as with the 60 MW currently under construction, will be built using Fluence’s Advancion platform, an industrial-strength energy storage solution designed to provide the highest dependability for long-term operations. Advancion is designed to adapt to changes in the market, providing UK Power Reserve with ultra-fast response flexible assets that will enable the company to offer additional services as the needs of the grid or market conditions change.
The partnership draws on Fluence’s more than 10 years of experience deploying turnkey storage solutions globally, with a global fleet of over 675 MW of projects deployed or contracted in 16 countries, including the first grid-scale energy storage system in the Irish Single Electricity Market.
“We continue to make strong progress on the initial phase of battery projects with Fluence,” said Wither. “The first 60MW of projects across England are on schedule and will be ready to deliver flexibility services to the UK grid by the end of this winter.”
The build-out of battery-based energy storage for the UK grid is happening alongside UK Power Reserve’s build-out of gas assets. The company is currently delivering 160MW of rapid-response, flexible gas assets, which were won in the 2015 Capacity Market and will be online by the end of winter 2019.
Sembcorp Industries, a Singapore-headquartered utilities, marine and urban development group with a global presence, recently acquired UK Power Reserve and plans to expand its integrated energy operation in the UK.
“We partner and work with suppliers who are able to match our ambitious build-out targets, and Fluence has worked tirelessly to meet every need, both on the initial set of projects and as our needs evolved for the remaining 60 MW,” said Sean Greany, Project Development Director for UK Power Reserve.
Stephen Coughlin, CEO of Fluence added, “UK Power Reserve is a leading force in modernising the UK’s electric infrastructure and we are delighted to expand our partnership. Fluence’s battery-based energy storage technology is designed to enable cleaner, more reliable and more resilient electric service in the UK’s rapidly changing market. By combining our ability to deliver robust solutions at this scale with UK Power Reserve’s deep market expertise, these projects will be ready to provide ongoing value for the UK grid and its consumers in less than a year.”
About UK Power Reserve
UK Power Reserve is the leading provider of flexibility to the UK energy system. Our 1013MW portfolio of low carbon, decentralised assets include 120MW of battery storage, one of the biggest in Europe. With rapid response, low cost assets located close to centres of demand, we are improving competition and delivering value to consumers. An innovative, disruptive voice in energy, UK Power Reserve is advancing its ambitious growth plans in the UK and beyond.
UK Power Reserve is part of the Sembcorp group, a leading utilities, marine and urban development group, present across five continents. As an integrated energy player, Sembcorp provides solutions across the energy and utilities value chain, with a focus on the Gas & Power, Renewables & Environment and Merchant & Retail sectors. In addition, Sembcorp is a world leader in offshore and marine engineering, as well as an established brand name in urban development. Sembcorp Industries has total assets of over S$22 billion (£12.3 billion) and over 7,000 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index, several MSCI and FTSE indices, as well as the SGX Sustainability Leaders Index and the Dow Jones Sustainability Asia Pacific Index.
For more information on UK Power Reserve, please visit www.ukpowerreserve.com | @UKPowerReserve
For more information on Sembcorp visit www.sembcorp.com
ABOUT FLUENCE
Fluence, a Siemens and AES company, is a global energy storage technology solutions and services company that combines the agility of a technology company with the expertise, vision, and financial backing of two industry powerhouses. Established in 2018, as the successor to industry pioneers AES Energy Storage and Siemens energy storage, Fluence’s goal is to create a more sustainable future by transforming the way we power our world. The company offers proven energy storage technology solutions designed to address the diverse needs and challenges of customers in a rapidly transforming energy landscape, providing design, delivery and integration in over 160 countries. Fluence works closely with customers during every step of their journey and provides advisory, financing, and project lifecycle services. To date, Fluence’s teams have deployed or been awarded over 650 MW in 16 countries. To learn more, please visit http://bit.ly/2xXKoEU and follow Fluence on Twitter at @FluenceEnergy.
