Good Energy begins ‘first of many’ energy storage projects

Good Energy aims to start work on its maiden commercial energy storage development in November this year, after their May launch of a US$10 million corporate bond offer to fund work in the stationary energy storage and EV charger sectors.

Good Energy offers its customers energy from fully renewable sources and appears to be targeting the commercial and industrial market, through advising its business customers on how behind the meter storage applications could enable them to better manage onsite renewable generation, electricity consumption and the cost of electricity.

The firm has revealed it is currently working on a technical storage solution with one of its long standing business customers, with a view to exchanging contracts in October and starting works the month after. “This will be the first of many storage projects we will undertake for our customers and shows an innovative commercial approach to a growing market,” the company stated.

 

‘Fit-for-growth’ restructuring plan

The energy storage and EV charging divisions form part of a significant shift in strategy at Good, which chief executive Juliet Davenport said had contributed towards a year of “transition” at the firm she founded in 1999. The firm has spent nearly £1 million (US$1.33 million) on a restructuring programme dubbed ‘Fit-for-growth’. “So far in 2017 we’ve made very good progress on the strategic direction of Good Energy by adapting our business model in a highly competitive and dynamic energy market.

“Our Fit-for-Growth programme and investment in our digital capabilities and systems are crucial first steps and, with further investment in our core business and the start of our new propositions in electric vehicles and storage planned in the second half of the year, we believe Good Energy is well positioned to succeed in the energy marketplace for the future,” Davenport said.

Source article: Energy Storage News