Cleantech trading house VEST Energy has signed a long term battery trading and offtake arrangement with Infra Balance New Energy (IBNE).
The flexible generation and storage capacity provider has a growing portfolio of projects in the UK, with additional sites in the pipeline. It is currently targeting partnership with equipment suppliers, EPC contractors and trading partners – like VEST – to deliver this pipeline.
IBNE is working with VEST to “create additional value that will accrue over time,” explained Willy Andrews, CEO of IBNE.
“The levels of interest are currently very high in developing storage solutions for the UK electricity market given the changes triggered by the government’s “green” energy revolution. Due to IBNE’s unique pipeline and well proven development process for attractive new sites, we are being approached on a regular basis by investors and utilities looking to either acquire or cooperate with us in the build out of the portfolio.”
The deal follows VEST Energy’s official launch in September 2020, with the company targeting the gap between start-ups and less dynamic large trading companies.
The UK battery storage market is a “vital part of the energy transition” explained Aaron Lally, managing partner at VEST Energy, and one "we are increasingly seeing new investors enter the space and gain comfort with the trading risk embedded in battery storage assets".
This article is reproduced at www.current-news.co.uk
