• Customer: Høegholm Energipark ApS. A fully owned subsidiary of Greenvolt Power 

• Asset: Høegholm hybrid energy park, Djursland, Denmark — 97.36 MW PV, co-located with a 60 MW / 120 MWh battery 

• Technology: Reel Balance, Reel Optimize 

• Agreement: Balance responsibility and optimization agreement. PV live since April 2026. 

Expertise that fit the partnership and asset 

Greenvolt acquired the Høegholm project in 2024 and built it out. A landmark Danish asset was arriving, and it needed a balance responsible party to enter the electricity market. 

Several companies competed for the mandate. Greenvolt screened the market, took competing offers, and benchmarked the terms and services against what balance responsibility costs in comparable markets. In the end, Reel stood out as the provider delivering the solution that best fits what Greenvolt needed.  

"Reel was professional from the beginning, and they know the energy market very well. They could explain exactly how the commercial model worked and which services they would deliver. We know our assets; they know the market - both sides bring their own expertise. And they are responsive and quick to adapt; there is always someone to talk to."

- Henri Schumann, Business Development Director, Greenvolt Power. 

Every megawatt hour, traded multiple times 

Only one party can hold balancing responsibility for an asset, so the mandate is not shared. Reel runs the full cycle. 

• Forecasting and scheduling. Reel produces the production forecasts for the plant and turns them into the schedules submitted to the grid operator, updating them as the weather picture changes through the day. 

• Day-ahead and intraday trading. Expected output is sold in the day-ahead auction. The position is adjusted intraday as forecasts firm up closer to delivery, so what has been sold tracks what the plant will actually produce.  

• Imbalance management. Reel carries the gap between what was scheduled and what the plant delivers, including the periods where imbalance prices turn punitive. That cover is the point of the arrangement: the owner does not end up exposed when the market moves against the forecast. 

• Optimization and ancillary services. On top of the pure power sale sits an energy management agreement: where the plant can be curtailed or released back to deliver system services, or held back when prices go negative, the additional value created is split between Reel and Greenvolt. 

A live dashboard to stay updated 

Greenvolt reports on Høegholm internally, so the numbers must be easy to get at. Reel gives Greenvolt live production as it happens, alongside historical production, revenue and capture rate, with invoices and the optimization settlement in the same place. The team logs in often and uses it as the working picture of the asset. 

"It is genuinely useful to have a platform to log in and see how the asset is performing. Live data and historical production, revenue, capture rate - all in an easy-to-understand overview. We use it a lot, and it is exciting to follow how Reel keeps developing it."

- Henri Schumann, Business Development Director, Greenvolt Power. 

Storage is the next layer 

What makes Høegholm stand out is the combination of solar and battery on one of Denmark's largest sites. 

Solar and storage behind one connection point cannot be optimized separately without leaving value on the table. The battery charge and discharge decisions depend on what the solar is doing, what the day-ahead position already committed to, and what the ancillary markets are paying at that moment. And only one party sees all three. 

Denmark has very little co-located storage in operation, which means there is no established playbook for running it. Both sides are building one. 

"Høegholm is what the next generation of renewable assets looks like: generation and flexibility behind one connection, optimized against the same signals. Getting that right is not a solar problem or a battery problem, it is a market problem - and Greenvolt gave us one of the largest hybrid assets in the country to solve it on."

- Anders Engtoft Meldgaard, CCO and co-founder, Reel.  

About Greenvolt 

Greenvolt Group is a Portuguese renewable energy company, founded in 2021 and fully acquired by investment firm KKR in 2024. It operates across three business areas: sustainable biomass, where the group originated; utility-scale wind, solar and storage through Greenvolt Power; and distributed generation through Greenvolt Next. Greenvolt Power is active in 18 markets and holds a development portfolio of more than 14 GW of renewable projects and 4.7 GW of battery storage across Europe, Asia and the United States. 

Sources: greenvolt.com, power.greenvolt.com.