Posted on: 14/12/2020
This new contract will enable Ventient Energy to carry out sophisticated hedging for some of its assets via SmartestEnergy’s SmartFlex Platform and participate in the Balancing Mechanism for up to 12 years
Today SmartestEnergy announces the start of a new partnership with Ventient Energy. The partnership will see some of Ventient Energy’s UK assets, managed via SmartFlex, SmartestEnergy’s FlexiPPA Platform, including Balancing Mechanism (BM) entry for transmission and distribution connected onshore wind assets.
The combined generation capacity from the sites added to the SmartFlex platform is enough to power 117,279 homes* with natural renewable energy.
“As the largest European independent generator of onshore wind energy, we’re passionate about supporting the UK’s transition to net-zero carbon by using the latest tools available to manage our assets and maximise their potential. Our Asset Managers are looking forward to leveraging SmartestEnergy’s SmartFlex Platform participating in this near real-time market to ensure we do everything we can to support the upkeep of a robust energy system,” said Mark Jones, CEO, Ventient Energy.
SmartestEnergy’s FlexiPPA structure will provide Ventient Energy with direct access to wholesale markets, including unique access to liquid five-year wholesale market pricing. This will allow Ventient Energy to carry out sophisticated hedging transactions for pension fund owners on SmartestEnegy’s SmartFlex Platform at the click of a button.
“Our team are delighted to onboard Ventient Energy to SmartFlex and manage 185MW of their onshore wind capacity. At a time when balancing supply and demand is more important than ever, our digital tools and experience managing flexible capacity supports independent generators wanting to maximise their returns and participate in the future energy system,” said Robert Groves, CEO, SmartestEnergy.
Additionally, SmartestEnergy will enter the transmission and distribution connected Ventient Energy onshore wind sites into the BM, which will see the assets curtail generation as needed to support National Grid’s balancing activities in near real-time when instructed.
*Based on an average energy yield and assumed annual household usage of 4,115 kWh per year