This new partnership builds upon a previous agreement signed in 2019. Image: GRID.

Global optimiser Habitat Energy has signed an agreement with Gresham House Energy Storage Fund that will see over 500MW of battery energy storage optimised.

The agreement makes Habitat Energy the single largest optimiser of batteries on the Fund’s behalf, with 337MW of new battery storage assets expected to come online within the next 12 months.

Via the agreement, Habitat will utilise its AI-powered optimisation software to maximise value for the long-term, working as a strategic partner to asset owners and developers.

The two companies first started working together in 2019, which saw Habitat optimise 74MW of Gresham’s UK energy storage projects spread over three sites.

This includes the 49WM Red Scar battery, which was acquired by the storage fund in December 2018, is to be optimised, along with a 20MW project in Wiltshire and a 5WM site in Wolverhampton.

“Energy markets globally are undergoing rapid transformation in the race to net zero, creating huge opportunities for investors. Gresham House Energy Storage Fund is leading the way in the UK battery storage industry and we’re grateful for the trust they have put in our team,” said Andrew Luers, CEO of Habitat Energy.

“This framework agreement reflects our ability to consistently deliver market-leading returns on their behalf, optimising a range of assets, each with unique characteristics, in a complex and rapidly evolving market.”

The Fund, which operates under the ticker GRID, continues to invest within the UK battery energy storage market with over 14GW of capacity anticipated to be online by 2030. This investment saw the organisation achieve a 20% like-for-like growth in underlying portfolio EBITDA due to a range of projects having become, or being closer to becoming, operational during 2022, as reported by Solar Power Portal.

GRID revealed that since 31 December 2022, an additional 40MW has been added to its operating capacity via the commissioning of the Coupar Angus project. This saw the Fund’s total capacity reach 590MW in early 2023 with an additional 437MW under construction and expected to commission in 2023.

The Fund is anticipating 940MW of further pipeline in Britain and Ireland with construction expected to commence in late 2023.

Commenting on the partnership with Habitat Energy, Ben Guest, fund manager at Gresham House Energy Storage Fund, said: “Best-in-class asset optimisation is critical to maximise the value of our portfolio and Habitat Energy have proven their ability to deliver.

“They combine sophisticated trading capabilities and market insight with advanced automation and a deep understanding of our assets. We’re confident that their merchant-first approach will continue to deliver for our portfolio and look forward to growing our partnership in the UK.”