Arenko and Smart Metering Systems (SMS) have extended their partnership with a ten-year deal to provide trading software for SMS’ growing battery portfolio.
The partnership, which builds on an initial deal signed in 2021, will see the technology provider’s trading software platform, Nimbus, licenced by SMS and used for “all revenue generating activities.”
Nimbus will automate key trading processes across SMS’ battery energy storage system (BESS) portfolio which currently has an operational capacity of 240MW and and a total exclusive pipeline of 860MW.
Serving as a centralised operating system, Nimbus will “drive efficiency and performance improvements” through AI and Machine Learning linking trading, integrations, asset management, risk management and back-office functions.
John Flaherty, managing director at SMS, said the partnership will allow the company to “scale to its full ambitions”.
Rupert Newland, founder and CEO of Arenko Group, echoed Flaherty’s praise for the partnership stating he was “thrilled” with the ten-year deal.
According to Arenkolw Nimbus currently operates roughly 600MW of battery capacity, adding that its pipeline is set to double this year with a longer-term secured pipeline of roughly 2GW.
This growth has been fuelled by partnerships; in October 2023 Arenko announced that Nimbus had commenced operation at a 20MW/45.5MWh Fluence battery system co-located with the Vattenfall Ray 54.4MW wind farm.
Later that year Arenko entered a partnership with Varco Energy on the 57MW/138MWh Native River and 57MW/137.5MWh Sizing John battery energy storage solution (BESS) assets.
Solar Power Portal’s publisher Solar Media will host the 9th annual Energy Storage Summit EU in London, 20-21 February 2024. This year it is moving to a larger venue, bringing together Europe’s leading investors, policymakers, developers, utilities, energy buyers and service providers all in one place. Visit the official site for more info.