/AARHUS, DENMARK, July 4, 2023, 9:30 GMT, Danske Commodities/ Energy trading company Danske Commodities announced today that it has signed a three-year optimisation agreement for the 25 MW battery storage asset, Blandford Road. The agreement marks Danske Commodities’ first battery storage customer in the UK, where the energy trader will utilise its fully automated algorithmic setup to maximise returns across wholesale and ancillary services markets. Under the agreement, Danske Commodities will provide market access, balancing and optimisation services for Blandford Road. The asset is owned by Equinor and is developed and operated by Noriker Power Limited, a British market leader in developing and operating energy assets, partly owned by Equinor (45% stake). Once operational, Blandford Road will have a capacity of 25 MW and help provide flexibility to intermittent power generation in the UK renewables market.
“We are proud to announce Danske Commodities’ first optimisation agreement with a battery storage asset in the UK. With 15 years of experience from UK power markets, we will apply our trading expertise to optimise battery storage assets and help provide much needed flexibility to intermittent power generation. We currently manage the biggest portfolio of batteries in Denmark, and we look forward to building on this experience as we take on our first battery in the UK,” said Anders Kring, VP, Head of European Power Trading at Danske Commodities.
With the Blandford Road deal, Danske Commodities is gearing up to support owner Equinor’s strategic ambitions to create a profitable renewables business by integrating battery storage assets in its portfolio in selected power markets.
“As Equinor’s power trading arm, we are happy to apply our experience from short-term trading to support our owner’s strategic ambitions within renewable energy and battery storage. Danske Commodities will utilise its fully automated algorithmic setup to maximise returns across wholesale and ancillary services markets,” said Kring, and he concluded:
“With Danske Commodities’ first battery storage optimisation agreement in the UK now signed, we are ready to further expand our asset portfolio and support the energy transition.”
Danske Commodities currently has a contract portfolio of 2,000 MW renewables assets in the UK, including a proportion of the offtake from the world’s biggest offshore wind farm, Dogger Bank.
About Danske Commodities
It is a tech-driven energy trading company that trades power, gas and certificates across 40 markets. Working for a viable energy future, the firm uses its trading expertise to connect producers and large-scale consumers to wholesale markets.
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