Wishing the best of luck to our clients and contacts pitching in to the EFR tender, who are probably recovering from a reasonably hectic week. Although, the attractiveness of 50MW maximum bid size and 4 year contracts are not to be underestimated, it's important that storage sector clients don't pin all their hopes on nicely counter-partied service contracts.
Perhaps as part of lessons learned from the CfD process, the EFR tender package has fairly stiff requirements for bid deposits (along with a slightly shonky draft deed), but it does at least provide a degree of certainty that successful projects will be built out, which is a clearly a proper outcome.
Breath bated now until August. Now, back to the capacity market...
The National Grid will take preliminary bids for one of the world's biggest energy storage schemes tomorrow.We are having trouble showing you adverts on this page, which may be a result of ad blocker software being installed on your device.As City A.M. relies on advertising to fund its journalism, please disable any ad blockers from running on cityam.com, then reload the page to see the rest of this content. More info here. Japanese, British and European companies are expected to compete for the 200 megawatts project, which will be used to plug the gap when Britain's doesn't have enough power. Read more: Big six energy giants set to avoid break up One bidder, American firm AES, said that the energy stored will be equivalent to that generated by more than a million iPhone-sized lithium-ion batteries, according to the Times.