RedT picked by Statkraft for C&I solar-plus-storage in the UK

Facebook
Twitter
LinkedIn
Reddit
Email
RedT units being readied for shipping to an international customer. Image: RedT.

Norwegian utility Statkraft has partnered with flow machine specialist redT on a fully-financed solar-plus-storage offering for the UK’s thriving C&I renewables market.

The solution will offer companies in the UK savings on their energy bills of up to 20% over a 25 year power purchase agreement (PPA) through the installation of solar arrays and redT flow machines at their premises.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Statkraft is to also bring customers into its virtual power plant, which the state-owned company intends to double in capacity to 2GW before the summer, to enable them to access flexibility optimisation services.

It’s intended that the initial phase of the agreement will see the deployment of some 10MW of solar PV and 6MWh of flow machine capacity. But it’s the companies’ aim to ramp this up significantly over the next three years, with the target set of installing 100MW of solar PV and 60MWh of storage in that time.

Andy Cooper, head of UK downstream at Statkraft, said the fully-financed offering stood to enable its customers to take advantage of renewable energy.

“Statkraft is committed to being the leading partner for clients seeking to better utilise renewable energy and maximise the value of flexibility. The partnership with redT enables Statkraft and Bryt Energy to offer additional options that will benefit customers, incorporating storage, renewable energy solutions, advanced asset optimisation and trading within a VPP,” he said.

Earlier this month, Solar Media's sister publications Solar Power Portal and Energy-Storage.news reported on the extent of redT’s financial woes, issues which have prompted the firm to launch a strategic review of the business moving forward.

The company is seeking to raise around £1.5 million (US$1.98 million) from a placing and open share offer to see it through the next four to six months, and teased the imminent announcement of a solar-plus-storage offering with a major European utility.

Upon confirming that company to be Statkraft, executive chairman Neil O’Brien said the duo were “breaking new ground in the energy industry”.

“With this roll out of low cost solar coupled with heavy cycling, flow machine technology, we hope to accelerate the deployment of energy storage providing low risk energy savings to commercial energy users, and creating an effective, hedge against rising energy prices,” he said.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
March 12, 2024
Frankfurt, Germany
Upcoming Webinars
March 13, 2024
9am EDT / 1pm GMT / 2pm CET
Solar Media Events
March 19, 2024
Texas, USA