Zenobe | December 2019
Zenobe is a major owner and operator of battery storage in the UK. Cornwall Insight assisted Zenobe in securing debt facilities to develop further battery storage assets, with a value of £25m being secured from Santander Corporate and Commercial. We were part of the project team to assist in the debt facilitation process and provided market analysis and forecasting to allow Santander to be comfortable with the provision of debt.
We provided forecast revenues for battery storage assets in the UK market, utilising our in house battery storage optimisation modelling. As part of this process, we ran a number of sensitivity scenarios across several different price curves, allowing the client and the investor to have as robust a view as possible for long-term battery revenue streams, including Wholesale Day-ahead and Intraday trades, the Balancing Mechanism and the Capacity Market. As part of this process, an assessment was also given of the regulatory risks associated with developing a battery asset, and further price curves.