EDF and Elements Green have inked a long-term agreement for the delivery of the 360 MW/720 MWh Staythorpe battery energy storage system (BESS) project located in Nottinghamshire. As part of the arrangement, EDF will provide a guaranteed minimum income from grid balancing along with the project’s 15-year capacity market contract. The project is currently in the early construction stage, and is expected to start operations in 2027.
Additionally, the company will also manage the BESS project through its Powershift platform to optimise revenues and ensure returns from market participation. Once operational, it will have the capacity to supply electricity to more than 95,000 homes daily. Furthermore, Elements Green achieved financial close on a £140 million unitranche debt facility from Goldman Sachs Alternatives for the project. This funding will be used for the construction and energisation of the project.
Earlier this month, EDF signed a long-term agreement with Ampeak Energy to optimise the 120 MW/240 MWh AW1 battery project at Uskmouth, Wales, following its financial close. The partnership will utilise EDF’s Powershift platform and trading expertise to maximise the project’s performance.
