Join our community of smart investors

RedT eschews Scotland for Cornwall

The supplier of vanadium redox storage systems (aka very big batteries) has inked a new deal in the West Country.
April 19, 2017

RedT Energy (RED) has signed an agreement with The Olde House, a working farm and holiday site in North Cornwall, to supply six of its energy storage machines which will deliver 1.08MWh, support the local grid and take part in Centrica's developing virtual energy marketplace.

IC TIP: Buy at 7.25p

The installed vanadium redox storage systems - a kind of giant battery - will be coupled alongside two grid-connected solar arrays and will be used to channel excess solar generation during the day for use during peak times when electricity prices from the grid are more expensive.

The project is being supported financially by Centrica, which will also work to make sure the batteries work effectively with the solar array to unlock potential revenue streams for the site owner. It's estimated that Olde House will reduce grid imports by half during peak times.