Glossary
BESS
Battery Energy Storage System
CapEx
Capital Expenditure
BM
Balancing Mechanism
CM
Capacity Market
DNO
Distribution Network Operator
EPC
Engineering, Procurement, Construction
ESG
Environmental, Social, Governance
IDNO
Independent Distribution Network Operator (private entity licensed by Ofgem to manage discreet sections of distribution networks and interface with National Grid transmission network)
IRR
Internal Rate of Return
LFP
Lithium ferro-phosphate
NEC
NextEnergy Capital
NESF
NextEnergy Solar Fund
NGESO
National Grid Electricity System Operator
NMC
Lithium-Nikel-Manganese-Cobalt-Oxide
O&M
Operation & Maintenance
OpEx
Operational Expenditure
Optimiser
Entity that manages the route to market, ensuring the battery is able to generate anticipated revenues
OtL
Option to Lease
ROFO
Right of First Offer
RTB
Ready to Build
RTM
Route to Market (contracts that allow battery to take part in revenue generating services)
SHA
Shareholder Agreement
SHL
Shareholder Loan
TA
Technical Advisor
