Arenko will act as the route to market provider for Varco’s Native River project, a 57MW/138MWh transmission connected BESS south of Liverpool, and the Sizing John project, a 57MW/138MWh transmission connected BESS south of St Helen. Arenko will also be providing other project commercialisation services, utilising the Group’s experience in optimisation and delivery of energy storage assets.
These assets, both being situated within a particularly congested part of the UK’s high voltage grid, will provide localised balancing and stability services to the National Grid system operator, as well as broader load shifting capabilities to enable high penetration of renewable generation across the entire UK system. Both assets are both forecast to be operational in the last quarter of 2024.
The partnership between Arenko and Varco on the Native River and Sizing John BESS projects forms part of a wider optimisation relationship across Varco’s wider development portfolio.
Rupert Newland, Founder and CEO of Arenko, said: “We are delighted to be working with Varco Energy, using our software to add value to their assets. Our customer-centric offering utilises automation technology, AI, enhanced analytics and deep-learning algorithms to enhance returns for asset owners. We look forward to delivering on the Native River and Sizing John assets and on Varco’s future BESS projects.”
Richard Whitmore, Director of Varco Energy, said:“We are very pleased to be working with Arenko to optimise our first two projects using their market leading algorithmic software platform and route to market team. We look forward to working closely with them to help maximise the value and services our projects can provide to the Grid, using some of the longest duration and highest cycling BESS designs to be introduced to the U.K. market”
About Arenko
Arenko is a market-leading technology provider enabling the clean energy transition. Our technology enhances the return of batteries and renewables and opens the industry to more investment and innovation. Our mission is to build a sustainable future by enabling a zero-carbon grid worldwide. https://arenko.group/
About Varco Energy
Varco Energy is based in the UK and backed by the Adaptogen Capital Battery Storage Fund. Varco is committed to driving the energy transition to a net-zero future by building flexible energy storage in the UK. Varco currently has 274MWhs of BESS projects under construction to keep moving the UK towards a renewable future. https://www.varco.energy/
About Adaptogen Capital
Adaptogen Capital is a specialist battery storage investment firm backed by some of the earliest investors in the UK storage industry. We were founded to provide insightful expertise to our investors and help them navigate the energy transition as sustainably and profitably as possible. Capital comes from a broad range of family office and institutional investors, with significant investment from our founding directors. https://www.adaptogencapital.com/
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