High efforts to promote renewable energy systems in Europe have led to fundamental changes in the electricity sector. Consequently, the integration of highly intermittent generation into the energy system is a key task ahead. Energy storage technologies are a promising tool to support this development but current wholesale electricity prices and small price spreads in particular do not allow for profitable operation. Hence, multiple use of energy storage in addition to the traditional field of application (energy arbitrage) can lead to economic efficiency. This thesis aims to explore options of deployment of battery energy storage systems (BESSs) when operated together with wind power plants (WPPs). Thereby, the BESS is used in three different modes in order to maximize the economic efficiency of the hybrid wind-storage plant: (1) to reduce forecast errors of the WPP and thus reduce payments for balancing energy; (2) to provide ancillary service (positive and negative control energy) to the grid; and (3) to harness excess energy of the WPP by shifting production in moments of low corresponding value of energy to moments of high values. The optimal dispatch strategy of the BESS is obtained from a two-stage linear optimization model which requires perfect foresight of electricity wholesale prices. Moreover, the wind-storage plant is acting as a price taker. The analysis is based on an existing WPP and data of the Austrian spot and control energy market of the year 2014 and suggests that BESSs are not profitable within the current economic and technical framework conditions. Capital costs of the BESS would have to decrease by 60% in order to allow for profitable operation. Finally, better use of the flexibility provided by a storage unit could be made if it is operated simultaneously on the intra-day and the control energy market and not sequentially as it is implemented in the two-stage framework used in this study. As a result, further research activity should focus on the fusion of the two stages.