ENGIE Storage Unveils New Wholesale Market Participation Offering in ISO-New England
August 1, 2019 -- ENGIE Storage recently (8/31) unveiled a new supply and services offering for developers of in-front-of-the-meter (IFOM) solar and energy storage projects in New England and emerging markets. Comprising energy storage system design support, supply, operations, performance guarantees, and payments for rights to participate in ISO-New England wholesale markets, the offering improves project economics, reduces risk, and enhances bankability for solar + storage projects.
ENGIE Storage is developing similar products for other wholesale power markets. ENGIE Storage’s first contract to deliver this offering is in connection with a 19 MW/38 MWh six-site portfolio of community solar and energy storage projects in Massachusetts, which was also announced on 8/31.
“ENGIE’s ambition is to lead the zero-carbon transition as a service for our customers, and here we’ve worked to create a compelling solution that brings to the table an unparalleled depth of capability and experience relevant to in-front-of-the meter energy storage development in Massachusetts,” said Christopher Tilley, chief executive officer at ENGIE Storage. “ENGIE is uniquely positioned to provide such an offering given the company’s experience operating assets and trading in ISO-NE, our recent acquisition of distributed energy power marketer Genbright, and our experience developing and operating energy storage assets including the largest IFOM solar + storage project operating in Holyoke, Massachusetts.”
“This product uniquely addresses the needs of the emerging energy storage market in Massachusetts and the ISO-NE territory, and should be attractive in other wholesale power markets as they open up to energy storage asset participation under Federal Energy Regulatory Commission Order 841,” continued Tilley. “We have had that belief validated through discussions with many of the leading solar developers in the region. We have more than 100 MWh of storage coupled with solar production facilities in the Solar Massachusetts Renewable Target Program under contract now, and we expect that volume to increase substantially within the next few years.”
Features of ENGIE Storage’s wholesale market participation offering include:
- Development Services: ENGIE Storage will evaluate the feasibility and economics of energy storage co-location with a solar development project, advise on storage project design and integration with solar, and contribute technical support through the permitting and interconnection process.
- Equipment Supply: ENGIE Storage will provide complete integrated energy storage systems warranted by ENGIE for 20 years.
- Operations and Maintenance: ENGIE Storage will deploy its GridSynergy® software platform to operate and dispatch storage systems, and will provide ongoing maintenance and warranty service.
- Performance Guarantees: ENGIE Storage will guarantee the energy storage system’s compliance with Solar Massachusetts Renewable Target Program and Investment Tax Credit charging requirements, backed by liquidated damages for failure to perform.
- Market Participation Fees: ENGIE Storage will pay fixed-price fees to the project owner, either up-front or annually, for the rights to participate with the storage systems in wholesale electricity markets.
---------------------------------------------------------------------------
Also of Interest from SGO:
10th Microgrid Global Innovation Forum, September 10-12, 2019, London
6th Demand Response & DER World Forum, October 16-17, 2019, San Diego
3rd CyberSecurity International Symposium, November 4-5, 2019, Chicago
4th Smart Cities International Symposium, January 21-23, 2020, Chicago
Customer comments
No comments were found for ENGIE Storage Unveils New Wholesale Market Participation Offering in ISO-New England . Be the first to comment!