29 July 2021

Arenko signs new trading optimisation services agreement with Vattenfall

Arenko, a leading software platform provider to the global energy investor market, is pleased to announce it has signed a trading optimisation services agreement with Vattenfall, the leading European energy company.

Vattenfall’s 22MW / 16 MWh battery is co-located at the 228MW Pen y Cymoedd Wind Farm in South Wales. It was the first battery storage in the UK to be co located at a wind farm site, allowing it to benefit from using the existing wind farm grid export connection. It consists of 500 BMW i3 automotive battery packs housed in five shipping containers and was one of the eight projects selected by National Grid to provide Enhanced Frequency Response (“EFR”) until February 2022.

With the signing of this new contract, Arenko will use complete end-to-end trade optimisation and automated dispatch software to maximise returns from February 2022 onwards. Arenko’s cloud-based optimisation software forecasts market conditions, performs millions of simulations per day to optimise trading decisions across markets, and then securely dispatches stored energy from the assets. This complete solution results in increased return on investment (“ROI”) for asset owners and streamlined portfolio growth for flexible assets on an energy grid in which decisions have to be made with ever- increasing speed.

This contract builds upon recent contract wins as Arenko’s technology aids its customers by enabling the flexibility required to support the global transition to a zero-carbon future. Arenko was pleased to work closely with Jake Dunn, Commercial Manager at Vattenfall who pioneered the development of renewables co location in the UK, to finalise this agreement.

Rupert Newland, Founder and CEO of Arenko Group, said:

“We are delighted to have signed this contract with Vattenfall, one of Europe’s leading energy companies. Arenko will be utilising our best-in-class asset optimisation services to enhance the returns from the battery asset in South Wales. This is an exciting opportunity for Arenko, and we look forward to delivering on the contract for Vattenfall and for other asset owners going forward.”

Jake Dunn, Commercial Manager at Vattenfall, said:

“At Vattenfall, our goal is to enable fossil fuel free living within one generation. We are determined to help this energy transition not just through renewable generation but also supporting grid stability through co located battery storage projects. As the EFR contract comes to an end and the battery moves to a more diverse range of ancillary services, we are grateful to be assisted in this by the market leading expertise of Arenko.”

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