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Rosser highlighted the importance of Camilla's operational success, including being selected by National Grid for balancing services, a testament to the evolving recognition of battery systems in the energy balance mechanism. Additionally, Camilla secured a tier one capacity auction contract for the upcoming winter, enhancing its revenue prospects.
Rosser also noted the progress made by National Grid in adapting its systems to better integrate battery storage solutions, a critical step towards displacing fossil fuels in energy balancing. He shared that NextEnergy is considering upgrading Camilla from a one-hour to a two-hour system, reflecting a disciplined approach to capital allocation.
Achieving the one gigawatt milestone through Camilla underscores the pivotal role of energy storage in the
Regarding the investment perspective, Rosser addressed the current share price discount to net asset value and outlined strategies to enhance shareholder value, including selling five solar assets to reduce short-term debt and potentially repurchasing shares. The company's focus on a defensive capital structure, emphasizing the reduction of short-term debt amidst a challenging macroeconomic environment, was reiterated.
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