BP and HEIT Forge Alliance to Enhance GB Power Grid Flexibility with 80MW Battery Storage Projects

battery storage investment company Harmony Energy

In a forward-looking partnership, BP has inked a significant agreement with Harmony Energy Income Trust (HEIT), a battery storage investment company, to bolster the GB power grid’s flexibility. The collaboration aims to develop two innovative projects set to contribute an additional 80MW / 160MWh of power capacity to the grid, slated to commence operations in the first half of 2024.

BP will be actively involved in optimizing and physically trading power for two key HEIT projects: Hawthorn Pit (49.9MW / 99.8MWh) and Wormald Green (33MW / 66MWh). The objective of these initiatives is to accumulate surplus power during periods of low demand and subsequently release it during peak demand, enhancing grid stability amidst the rising share of renewable energy sources like wind and solar.

These projects represent BP’s initial foray into optimizing Battery Energy Storage System (BESS) assets since the integration of Open Energi, a digital energy platform, in 2021. The Open Energi software will play a pivotal role, enabling real-time insights and strategic decision-making to link HEIT’s assets with power markets via bp’s trading business.

Hormoz Ala, Senior Manager in European Power at BP, expressed the significance of this venture, stating, “This deal represents a significant opportunity to combine bp’s established experience in power trading with Harmony’s track record in battery development to help safeguard the stability of the GB power grid as we all work to transition to a Net Zero future.”

Ala further highlighted the innovative potential of this collaboration, underlining the crucial role of real-time decision-making in providing grid support optimization. As BP continues its transformation into an integrated energy company, this partnership underscores the necessity to diversify and develop their business to meet the evolving needs of customers, investors, and the energy market.

Paul Mason, Managing Director of HEIT’s Investment Adviser, emphasized the importance of choosing the right revenue optimization partners amidst the increasing complexity of the market. He noted, “This agreement embodies a shared focus on innovation and sustainability, which is underpinned by the sophistication and experience offered by BP’s Open Energi platform and our rapidly growing portfolio of two-hour duration batteries.”

This collaboration reflects the shared commitment of BP and HEIT to driving innovation and sustainability in the energy sector, ultimately contributing to the global transition towards a Net Zero future.