The battery – which operates on the so-called imbalance market - plays an essential role in connecting more sustainable energy to the power grid. Thanks to a special contract with the grid operator, it also helps to limit the effects of grid congestion.
A new phase: from generation to storage
BOM has been investing in innovative energy solutions for years to show the market that the energy transition can be faster and smarter. Koen den Houting, Investment Manager at BOM: “The energy transition is entering a new phase; it is no longer just about generating sustainable energy. The energy demand fluctuates, as does sustainable energy generation. Therefore, flexible storage – like the battery in Dongen – is crucial to ensure that energy is available when needed and to prevent overloading of the power grid. We are proud to contribute to this together with Odura and Triodos Bank.”
The energy transition is entering a new phase... Flexible storage is crucial to ensure that energy is available when needed and to prevent overloading of the electricity grid.
Koen den Houting
Partners in the energy transition
The shared vision on the importance of energy storage for a sustainable electricity grid formed the basis for a strong collaboration between BOM and Odura. They previously implemented a battery together at Solar Park De Dassenberg in Bergen op Zoom; with the larger battery in Dongen (10 MW / 18 MWh), they are taking the next step. "BOM and Odura complement each other perfectly as partners in the energy transition," says Joost Berkvens of Odura. "We bring the technical expertise to realise and manage batteries, while BOM – together with Triodos Bank – provides the essential financial clout to get these projects off the ground. This partnership makes the difference."
Guts and perseverance
Since 2020, Odura has been active in energy storage, a market that was still in its infancy at the time. "It takes courage to initiate and realise a project in the early phase of a market, as it involves many risks and uncertainties," explains Den Houting. "BOM is here to help Brabant entrepreneurs who make a difference with innovative applications in new markets to succeed. Odura is certainly one of them!"
Being at the forefront of a new market means having to pave the way and find solutions for everything yourself. The execution of the project in Dongen also did not come without challenges. For instance, Odura had to devise innovative solutions for metering, noise pollution, and integration with the existing solar parks. This required deep knowledge, guts, and perseverance. "In retrospect, it seems evident that it succeeded, but it definitely wasn't during the process," says Berkvens.
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Breakthrough in financing
So-called 'full merchant' energy storage projects like these have a high-risk profile because the revenues depend on market prices, without guaranteed minimum prices or subsidies. The uncertainty about the payback period of innovative solutions like this battery project makes it difficult for financiers to make large investments. Triodos Bank was one of the first to dare to step in, which signifies an important breakthrough. “This is a significant step in the financing of the energy transition,” says Den Houting. “Triodos Bank is an example for other banks by driving change in this way!”
This is a significant step in financing the energy transition. Triodos Bank is an example for other banks by driving change in this way!
Koen den Houting
Harold Hofenk of Triodos Bank explains why they see potential in this project: “As Triodos Bank, we want to be an accelerator in the energy transition. Innovative projects like this battery operating on a merchant risk basis are an important part of this. For Triodos Bank, the good reputation and previous experiences in battery storage of both Odura and BOM contributed to the decision to co-finance the battery.”
Unique capacity-limiting contract
Another first is the capacity-limiting contract, which offers a solution for companies that do not receive a regular network connection due to grid congestion. We are one of the first to whom Enexis has awarded this contract. Odura will act as CSP (congestion service provider) to implement the capacity limitation. “The awarding of the capacity-limiting contract is a great sign of confidence in us and this project. It is a fine confirmation that we are on the right track and an extra incentive to continue supporting innovative entrepreneurs and projects that give a boost to the energy transition,” says Den Houting.