The generation arm of British energy major Octopus Energy has announced that it has acquired four new solar projects across England as part of a plan to invest £2 billion into renewable energy projects by 2030.
Gresham House, the largest owner of battery energy storage system (BESS) assets in the UK, has said it sees tolling deals like the one agreed with Octopus being possible “across the optimiser market”.
Utilities have a ‘slightly different logic’ on trading BESS than optimisation firms when it comes to composition and internal synergies, Octopus Energy said after a recent deal to manage a large BESS portfolio.
Octopus Energy has signed a two-year fixed-price tolling agreement with Gresham House Energy Storage Fund for 500MW of its battery assets, bringing the utility’s virtual power plant (VPP) portfolio to over 1.5GW.
