ENCAVIS acquires its first battery project to optimise the marketing of electricity
Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) acquires a ready-to-build (RTB) battery project (12 megawatts respectively 24 megawatt hours). The Battery Energy Storage System (BESS) in Hettstedt (Saxony-Anhalt) is based on lithium-ion technology and is scheduled to be connected to the grid in the first half of 2024.
The BESS is charged in the hours of the day of lower electricity prices and discharged in the high-price hours by participating in the day-ahead and intra-day market. This mechanism optimises the capture rate of the existing wind and solar park portfolio. In addition, this approach smoothes the generation fluctuations typical of Renewable Energies and reduces the associated balancing energy costs. Regardless of location, the battery can store amounts of electricity from all Encavis Group parks in Germany and discharge them at another time. The elimination of network charges for charging the battery in Germany makes this economically attractive.
“The new plant in Hettstedt will allow us to use our Renewable Energy generation much more flexibly. This will enable us to serve a part of our portfolio in Germany with innovative battery technology and thus generate additional revenue”, welcomes Mario Schirru, CIO/COO of Encavis AG, this innovative milestone achievement.