Siemens Energy has been threatened with a class action lawsuit in the US by Gross Law Firm over claims of potential securities fraud.
Gross said it is investigating claims of securities fraud on behalf of Siemens shareholders after Siemens withdrew its profit guidance for the 2023 financial year in June, due to technical problems in its turbine manufacturing arm Siemens Gamesa. This led to a 27% drop in the company's share price.
A database run by a US-based electricity sector research organisation reveals the countries with the worst records for utility scale, or industrial, energy storage-related fires
South Korea and the US are the countries that have suffered the largest number of utility scale or industrial energy storage-related fires, data from a US-based electricity sector research organisation shows.
A database maintained by the California-headquartered Electric Power Research Institute (EPRI) reveals that, from 21 September 2011 to 27 July 2023, there were a total of 63 “utility and commercial & industrial-scale energy storage failure events”. Just under half of the events (31 in total) were located in South Korea, the data shows, meaning the East Asian country has experienced the most major incidents during the 12-year period.
Meanwhile, the US was the country that experienced the second largest number of utility and commercial & industrial energy storage failure events, with a total of 19 during the period. Elsewhere, there were three such events in Australia, and two each in China, Taiwan and France. The countries where one event was recorded during the 12-year timeframe were Germany, the UK, Belgium and Japan.
With regard to the times during the period the failure events took place, it is difficult to draw conclusions as to whether there is a trend for an increasing, or decreasing, number of incidents each year. The database shows that, between 2011 and 2017, there were never more than two failure events per year (with either one or none in five of the years in that period). However, in 2018, the number of major storage failure events rocketed to 16, before dropping down to eight in 2019, and falling again to just four in 2020. However, incidents increased to 10 in 2021, before climbing again to 12 in 2022. The database records a total of six such events in 2023 so far.
It is important to place the country figures in context and make note of the relevant caveats. The respective totals for each nation are obviously relative – for example, South Korea has experienced over 50 per cent more commercial & industrial energy storage failure events than the US during the period, but has only deployed a fraction of the amount of energy storage that has been installed in the US market. It should also be taken in to account that reporting standards for energy storage fires may differ from country to country. However, in a sector in which statistics on fire events is scarce, the EPRI data provides a useful insight into the scale of the problem.
The EPRI website also provides details of the “module type” involved in relation to the failure events. Module types are not detailed for every event, but the modules that do appear in the list are referred to as follows:
Module type (number of times cited in EPRI database)
LG Energy Solution (6)
LFP (4)
Powin Energy (3)
Tesla (3)
LG Chem (2)
Gotion High-Tech (1)
Lead Acid (1)
Ruipu (1)
Samsung SDI (1)
SimpliPhi Power LFP (1)
SK Innovation (1)
A report published last week by Firetrace International, a supplier of fire suppression technology to the renewable energy industry, warned that there was a real danger that public opposition to energy storage could grow significantly as a result of fire risk fears, threatening critical battery deployment and, as a result, net zero goals. The report said that concern for energy storage fire risk is rising, and incidents that do occur tend to attract a significant amount of negative publicity. As a result, projects in the US and Canada are being postponed and politicians in the UK are calling for battery storage systems to be subject to checks by fire services.
The Firetrace report also stated that high-profile fire incidents in battery storage had impacted on the insurance market, with the result that appetite to cover energy storage projects has declined, with some insurers even exiting the market. This had resulted in increased premiums, higher excesses, and difficulties in securing 100 per cent cover.
The report also stated that regulation had a major role to play in mitigating battery storage fire risk but, at present in the US, fire regulations vary from state to state, resulting in an array of different regulations informing design and installation. It added that, while manufacturers in some states consult fire suppression specialists, others do not. The report suggested that US states should adopt the International Fire Code (IFC) in place in New York and California.
Earlier this year, the US-based International Association of Fire Chiefs said that, as the use of lithium-ion batteries continues to grow, so does the potential risk for first responders who are “called upon to mitigate associated fire incidents and hazards”. Subsequently, the association ran a campaign, which focussed on five key areas: recognition of hazards; firefighting operations; firefighter safety; post-incident considerations; and public education.
In October 2022, the American Public Power Association (APPA) highlighted how a fire at Pacific Gas & Electric’s (PG&E) Moss Landing battery storage facility in California had brought “fresh attention to safety issues tied to energy storage”. Following the fire, one newspaper used its editorial column to state that the fire was a “reminder that battery blazes are becoming increasingly common and destructive – and safety measures, including fire drills, for residents around storage facilities will have to be put in place and widely disseminated.” The article also raised concerns that “lithium-ion batteries might be releasing toxins into the air”. The Moss Landing fire also led the APPA to highlight comments made three years earlier by a commissioner from the Arizona Corporation Commission, who said that the lithium-ion chemistries used in battery storage facilities “create unacceptable risks”.
Elsewhere, as highlighted in the Firetrace report, battery storage projects in the US and Canada have had to be postponed as a result of fire risk concerns raised by local communities. In April this year, residents in Maryland’s Prince George’s County opposed plans for a lithium-ion battery storage system citing fire and explosion risks. Meanwhile, in the New York borough of Staten Island, plans for 120MWh of battery storage were withdrawn due to the local community’s fears about fire risk and potential exposure to toxic chemicals.
In the UK, politicians have sought to highlight the risks associated with battery storage systems and called for them to be subject to checks by fire services. One UK Member of Parliament has called for energy storage installations to be classed as ‘hazardous’, which would mean the UK Environment Agency, Health and Safety Executive, as well as fire services would be statutory consultees when planning applications are considered.
In an effort to minimise the risk of battery storage fires, energy companies are investing in technology providers that have developed data analytics tools that can detect, at an early stage, battery defects or malfunctions that can lead to major safety issues, including potential fire risk. For example, EDF was one of the early investors in Paris-headquartered battery analytics systems developer PowerUp, which claims that, contrary to popular belief, lithium-ion batteries' fires are most commonly a result of cell imbalance issues.
PowerUp says that one issue that heightens fire risk is that it is only the more sophisticated battery management systems that include a microcontroller that can evaluate battery SoH [state of health] and SoC [state of charge]. PowerUp argues that accurate monitoring of SoH and SoC is vital in order to address the issue of cell imbalance. “Unfortunately, BMS [battery management system] components failures can happen, and SoH and SoC measurement accuracy is often limited,” a PowerUp report concluded. “Among battery faults root causes, BMS failure leads to battery unsafe overuse conditions (over-temperature, over-voltage or high over-charge).” With fire risk concerns leading to the cancellation of energy storage projects, the race is on among project developers to minimize the danger of battery fires and quell fears among local communities about battery systems being built in their neighbourhoods.
Enel North America has signed a power purchase agreement with publicly traded US workplace owner and developer BXP for a 21-megawatt (MW) portion of the Estonian solar-storage project under construction in Delta County, Texas.
Construction is underway on the project, which is expected to come online in late 2024. The 202 MW solar facility will be paired with a 104 MW battery energy storage system. The solar project is expected to generate around 499 GWh of clean electricity each year, equivalent to the needs of more than 46,000 US households. Over its lifetime, the hybrid project is expected to generate over $23 million in new local tax revenue for schools and public services.
Paolo Romanacci, head of Enel North America’s renewable energy business, Enel Green Power North America, said: “Enel offers companies a variety of tools to manage energy efficiently and lower their carbon footprint—from clean power contracts to load-side solutions like demand response. Enel is thrilled to grow our relationship with BXP, further enabling their sustainability progress while also supporting new, clean power in ERCOT—a grid that is increasingly reliant on solar power and battery storage.”
Doug Linde, BXP president, added: “Efforts to advance meaningful decarbonisation at BXP have been centred on energy efficiency, electrification, and renewable energy procurement. By contracting for renewable power that is additional, we are making a positive impact by supporting the growth of renewable energy generation and broader transition to a clean energy future.”
Texas-headquartered Yotta Energy has raised $8 million in a funding round led by Evergy Ventures as well as including strategic investors BlueScope and Cricetus Felix Ventures, and existing investors Copec WIND Ventures, EDP Ventures, Doral Tech Ventures, and the SWAN Impact Fund.
“The funding will help the company scale up manufacturing and accelerate the deployment of its SolarLEAF battery technology,” a Yotta Energy statement said.
Brock Smith, managing director at Evergy Ventures, said: "Yotta's unique approach to addressing intermittency challenges in solar energy is truly game-changing, and we believe it aligns perfectly with our vision of advancing clean and sustainable energy solutions.”
Omeed Badkoobeh, CEO of Yotta Energy, said: "This new $8 million funding round, reinforces Yotta Energy's position as a leading player in the solar and storage domain. With the growing interest within this market for solar, ESS and EV Charging, and our recent entry into the GSA Green Proving Ground, a programme that will give us access on deploying our technology across government buildings, we think Yotta Energy is exceptionally positioned to deliver not only the best project economics but also deliver this at scale.”
Statkraft is to build Ireland’s first four-hour grid-scale battery energy storage system (BESS) in Co. Offaly.
The 20MW BESS, supplied by Fluence, will be co-located with Statkraft’s 55.8MW Cushaling Wind Farm. The wind project is currently under construction.
The battery project will support EirGrid to ensure network stability by delivering “fast-acting system services as more non-synchronous renewable generation comes online”, a Statkraft statement said.
This system is designed to provide 20MW for up to four hours. Most grid-scale batteries currently deployed in Ireland range from 30 minutes to two hours of energy storage capacity.
Construction of the battery project is expected to be completed by late 2024.
Kevin O’Donovan, managing director of Statkraft Ireland, said: “It’s very exciting to add another battery project to our growing portfolio of storage projects. The longer-duration storage capability of this project shows that Statkraft continues to innovate and embrace advancement in battery technology.”
Brian Perusse, managing director of Fluence Energy Ireland Ltd, added: “The continuous advancements in energy storage technology are astounding and the technology is well positioned to serve both flexibility and peak capacity needs in the market.”
RWE has finalised a €24 million investment decision for a 35MW / 41MWh battery storage project at its biomass plant in Eemshaven in the Netherlands.
A total of 110 lithium-ion battery racks - covering an area of around 3,000 square metres - are to be installed at the plant.
“The battery project is an important step towards a portfolio of innovative demand assets to optimally integrate the weather-related fluctuating power generation profile of the ‘OranjeWind’ offshore wind farm into the Dutch energy system, a RWE statement said. “In 2022, RWE had secured the implementation of the offshore project off the Dutch coast with a system integration concept that combines the wind farm with the generation of green hydrogen and other solutions such as battery storage.”
The planned battery storage facility can operate at its installed capacity of 35 MW for over an hour. This is sufficient to charge around 800 electric vehicles. The system has been designed to be virtually coupled across technologies with RWE power plants in the Netherlands.
Roger Miesen, CEO of RWE Generation and country chair for the Netherlands, said: “With the increasing share of renewable energies in the electricity mix, the demand for flexible battery storage is also rising. With this large-scale project, RWE is gaining experience in the marketing of energy storage systems on the Dutch energy markets and is actively contributing towards stabilising the Dutch electricity grid.”
Northland Power and Mitsui have secured C$5bn ($3.7bn) credit package for their 1.1GW Hai Long offshore wind project in Taiwan.
Northland and Mitsui are developing the $9bn ($6.7bn) project in a 60:40 joint venture and said it will soon achieve financial close. This C$5bn non-recourse project financing package will be provided by 15 international and local lenders, and is backed by export credit agencies in six countries.
Hai Long is divided into three phases: the 294MW Hai Long 2A has a 20-year power purchase agreement (PPA) with Taipower, while the 728MW Hai Long 2B and C have a 30-year with an unnamed "investment grade counterparty".
In a filing with the Virginia State Corporation Commission (SCC), Dominion Energy Virginia has outlined plans for what it describes as a “groundbreaking” battery storage pilot project that could increase the length of time batteries can discharge electricity to the grid to up to 100 hours.
The Darbytown Storage Pilot Project will test two new technologies as potential alternatives to traditional lithium-ion batteries, both of which could offer “strengthened safety features” for battery storage, a Dominion Energy statement said.
The pilot project, which will be located at the existing Darbytown Power Station in Henrico County, will test two alternatives to lithium-ion batteries: iron-air batteries developed by Form Energy and zinc-hybrid batteries developed by Eos Energy Enterprises.
The batteries currently in Dominion Energy's fleet have durations that, on average, are limited to four hours or less, but Form Energy's iron-air technology has the potential to discharge energy for up to 100 hours.
In addition to SCC approval, the project would require development plan approval from Henrico County. If approved, construction would begin by late 2024, and the project would be operational by late 2026.
"We are making the grid increasingly clean in Virginia with historic investments in offshore wind and solar," said Ed Baine, president of Dominion Energy Virginia. "With longer-duration batteries in the mix, this project could be a transformational step forward, helping us safely discharge stored energy when it is needed most by our customers."
Form Energy's co-founder and CEO Mateo Jaramillo said: "We are pleased to partner with Dominion Energy on the innovative Darbytown Storage Pilot Project and look forward to delivering a 100-hour iron-air battery system that will enhance grid reliability and provide Dominion's Virginia customers with access to wind and solar energy when and where it is needed over periods of multiple days."
Joe Mastrangelo, CEO of Eos Energy Enterprises, said: “We are proud to have been selected for this critical project. Dominion understands that meeting our future energy needs requires multiple storage technologies. We're excited to show Dominion how well our zinc-hybrid batteries perform."
Dominion Energy has approximately seven million customers in 15 states.
Texas-based electric and natural gas utility CPS Energy has launched a request for proposal (RFP) for up to 500MW of energy storage systems.
Projects under this RFP “may be diverse and responses are welcomed from both large-scale and smaller sized projects”, a statement said.
CPS Energy said 500 MW of storage would be enough to power 100,000 homes.
“These smaller scale projects can be strategically placed at different locations within the CPS Energy service area, providing another tool to meet community growth and the ability to improve reliability in specific locations,” the statement added. “This RFP will be the first time CPS Energy has issued a notice solely for standalone storage projects, although past RFPs have included storage as an overall component.”
Rudy D. Garza, president & CEO of CPS Energy, said: “We worked closely with our board of trustees and community to approve a generation plan that will provide power for our fast-growing community. We are casting a large net through this RFP process and are excited to secure more resources to meet that growth.”
Macquarie Asset Management has formed a joint venture with Green Wind Renewables to develop 2.4GW of onshore wind projects in Australia.
The companies are set to develop the early-stage projects in Western Australia. The schemes already have agreements with landowners, and comprehensive resource monitoring is underway.
RWE Renewables has won planning consent from the UK Government for its 1.1GW Awel y Môr offshore wind project in the Irish Sea.
RWE owns a 60% stake in the 50-turbine project, alongside Stadtwerke München (30%) and Siemens Financial Services (10%). The scheme still requires consent from authorities in Wales.
The European Union has promised to unveil support for Europe's troubled turbine makers in 2024, but will this be enough to help them stand firm against Chinese rivals?
"It was the best of times, it was the worst of times..."
It is with this famous couplet that Charles Dickens started 'A Tale of Two Cities', but the oft-repeated line came to mind as I considered the European turbines market following two stories this month. In Europe, we have 'A Tale of Two Markets' where Chinese manufacturers are making major inroads while local firms struggle.
The European market looks positive for Chinese players. On 9th September, Sany Renewable Energy set out its plan to develop onshore turbines with headline capacity of up to 11MW at the Husum Wind conference in Germany, and said it is looking to win deals in Europe. As with other Chinese firms, it can make these investments due to healthy profit margins at home.
By contrast, European rivals have spent the last five years struggling to adapt to a market driven by competitive tenders, which have squeezed profit margins and led to a ‘race to the bottom’ in the industry. Siemens Gamesa has attracted headlines in 2023 because of technical problems in onshore models, which led to Siemens Energy saying this week it is restricting sales of its most troublesome machines. Its problems are not just down to tenders, but those cost pressures have surely had an effect.
These stories show in microcosm why WindEurope is warning of the “very real risk” that Chinese turbine makers will destroy their European rivals. It says the “cheaper turbines, looser standards, and unconventional financial terms” give Chinese turbine makers an unfair advantage in Europe, as well as posing a “cybersecurity threat”.
This is not a new warning, but it appears that policymakers are finally listening.
On Wednesday 13th September, European Commission President Ursula von der Leyen announced in her annual ‘State of the European Union’ speech that she is aware of the difficulties facing European turbine makers. She said the EU plans to take action in 2024 with a ‘Wind Power Package’ to support these firms.
She said this support would focus on these areas:
The industry reaction to this intervention has been positive: the EU has finally taken note of the pressure facing European turbine makers. But why has it been so long in coming? Companies in the European wind supply chain have complained about the damage of the ‘race to the bottom’ for the last five years, but these challenges were easier to ignore in more benign economic times. The EU now has to catch up due to inflation and supply chain disruption after Covid and Russia’s invasion of Ukraine.
It should not have taken high-profile problems at businesses, and failed tenders in EU countries including Spain, to spark such a response. But that's where we are.
WindEurope has welcomed the EU’s areas of focus. It highlighted that around 80GW of wind projects are stuck in bureaucratic processes across Europe, and said the EU will only be able to meet long-term renewable energy targets if it can unblock them.
The association also said countries should move away from tender structures that put extra pressure on wind companies, such as with the use of negative bidding in Germany, and to systems that mean decisions are not being made on price alone. Future tender processes in EU member states could attach a value to using 'made in Europe' turbines. Countries can’t make a major energy transition ‘on the cheap’, as much as they may like to.
And yet, we have concerns about the EU’s approach.
First, a ‘Wind Power Package’ in 2024 does not give European turbine makers, and firms throughout the supply chain, the confidence they need now. It is good to hear a package is on its way, but the supply chain needs more urgency. The next few years are crucial for the survival of European turbine makers, so there's no time to waste.
Second, the EU may hail the wind industry as a “European success story”, but it will rely on leaders in its 27 member states to put in place policies that will also see the value of producing turbines in Europe. The case is clear in manufacturing hubs such as Denmark, Germany and Spain, but the EU has to find ways to show why other countries are better off if they can buy European turbines – even if this comes at a higher cost. We must recognise the limits of the EU's power.
Third, reducing permitting bottlenecks in Europe may help European turbine makers, but it helps Chinese firms too. More projects means more potential deals for turbine makers wherever they come from. Making it easier for companies to build wind farms is beneficial, of course, but it wouldn’t compel firms to use European turbines.
The most pressing area for manufacturers is how the EU can promote stable supply chains. It will need to find ways to help manufacturers be more profitable; gain more visibility over long-term order pipelines; give them an advantage in wind tender processes; and possibly even provide more support for wind turbine companies because it sees them as crucial strategic industries. It will face a tough balancing act to do this while also reassuring countries that wind energy will remain cost-effective.
It won't be easy, and we expect a great deal of discussion about how it can achieve this as we head into early 2024.
For the long-term health of wind turbine manufacturing in Europe, though, this is vitally needed. These issues have gone unaddressed for too long.
Energy storage system manufacturer EnerSys has agreed a $91.8 million deal to supply its proprietary Thin Plate Pure Lead (TPPL) batteries to the United States Navy (USN) for use on nuclear submarines.
The contract is a “continuation of a supplier relationship in which EnerSys has supplied its TPPL batteries for US Navy submarines for over fifteen years from its highly automated facility in Warrensburg, Missouri,” and Enersys statement said.
David Shaffer, president and CEO of EnerSys, said: “The mission-critical nature of our energy storage solutions is at the foundation of our partnership with the US Navy. Our entire EnerSys team is proud of the Navy’s confidence in our ability to meet these needs by extending our production relationship through this new contract award.”
Mark Matthews, senior vice president specialty global added: “EnerSys takes great pride in supporting the US Navy’s submarine fleet with our proprietary TPPL technology for the growing needs of this demanding application. It is an honour to partner with the US Navy for the next five years and we look forward to continuing to support the US Navy as well as the entire US Department of Defense with EnerSys advanced lithium cobalt and proprietary lithium ion-chemistries.”
A fire broke out at the 139MW Terra-Gen Valley Center Energy Storage Facility in San Diego County, California on Monday evening (18 September), according to reports.
The facility produces enough electricity to power up to 140,000 homes for four hours on a single charge, and has secured long-term power purchase agreements with San Diego Gas & Electric.
Media reports said the fire broke out at around 5.15pm local time and that the Valley Center Fire Department and the San Diego County Sheriff’s Department were called to the scene. Terra-Gen personnel also attended the scene to coordinate the response with the emergency services.
Due to the incident, road closures were put in plance on Valley Center Road between Sunset Road and Vesper Road and Cole Grade Road south of Valley Center Road. In addition, as a precautionary measure, an evacuation order was issued for homes and businesses within a quarter of a mile from the site.
Prior to the incident, the facility had provided the local community with “tens of millions in tangible economic benefits in the form of direct and indirect jobs associated with the project’s construction, increased property taxes, and donations to the local Valley Center Fire Protection District”, Terra-Gen had said.
A report published earlier this month by Firetrace International, a supplier of fire suppression technology to the renewable energy industry, concluded that there is a real danger that public opposition to energy storage could grow significantly as a result of fire risk fears, threatening critical battery deployment and, as a result, net zero goals.
German steel company Salzgitter has picked Austrian firm Andritz to install a 100MW green hydrogen plant at its Salzgitter Flachstahl site in Germany.
Salzgitter is set to use the green hydrogen to support its renewable steel production operations. The plant is set to become operational in 2026 and produce around 9,000 tonnes of green hydrogen per year.
Spanish firm Ibereolica Renovables has ordered Nordex turbines for two wind farms in Castilla y León, Spain, with total capacity of 60MW.
Nordex is set to start supplying turbines for the Aciberos and Padornelo 3 projects in spring 2024. Both are due to be commissioned in summer 2024.
Total Energies and European Energy have formed a 65:35 joint venture to develop 4GW of onshore renewable energy projects in Europe.
Vincent Stoquart, Senior Vice President of Renewables at Total Energies, said the partnership would enable it to accelerate its growth in both established and emerging European markets. European Energy owns 1.4GW of renewable energy projects and has a further 60GW in its development pipeline in 28 countries.
The US Department of Defense's (DoD) Office of the Assistant Secretary of Defense for Industrial Base Policy, through its Manufacturing Capability Expansion and Investment Prioritization (MCEIP) office, has awarded $30 million to a three-year project to establish an energy storage systems campus.
The University of Texas at Dallas spearheaded the successful bid, with a diverse consortium comprising a number of universities, emerging and established businesses, and four national laboratories. The energy storage systems campus is part of DoD's Scaling Capacity and Accelerating Local Enterprises (SCALE) initiative which stimulates commercial investment and builds “sustainable markets” in technologies that are essential to national security. It is part of a portfolio of new MCEIP programmes designed to lower barriers for emerging domestic companies, while making it easier for commercial industry to expand their production in support of DoD and other national security customers.
The energy storage systems campus will leverage and stimulate more that $200 million in private capital, to accomplish three complementary objectives: optimising current lithium ion-based battery performance; accelerating development and production of next generation batteries; and ensuring the availability of raw materials needed for these batteries. It incorporates workforce development as a key pillar, bringing together universities, trade schools, and businesses to create job growth while upskilling the domestic workforce.
A DoD statement said the project would “accelerate transition and scaling of next generation batteries, while reducing dependence on scarce critical materials.”
Dr. Laura Taylor-Kale, Assistant Secretary of Defense for Industrial Base Policy, said: "The SCALE initiative is built on robust research that indicates market pull is needed to transition innovative technologies into new domestic industrial base capability and capacity. Our approach of aggregating demand across national security and commercial markets will generate that market pull, drastically reducing timelines to transition and scale emerging technologies."
KORE Power will deliver at least 450 MWh — and up to 600 MWh — of lithium-ion battery cells, modules and racks to Nidec North America in 2024, the first year of a new annual supply agreement.
Under the terms of the agreement, supply will grow up to 2.2 GWh in 2026.
Late last year, KORE announced Nidec was part of its Series A Funding Round. In addition to that agreement, today’s announcement secures KORE’s position as a supplier of lithium-ion cells, modules and racks for Nidec. Nidec specialises in energy storage and power conversion systems.
The collaboration between the companies also includes developing turnkey energy storage systems for utility-scale and commercial/industrial projects.
In the next three years, Nidec will supply 225 MVA [megavolt-amperes].to 1,100 MVA of power conversion systems to capture the substantial growth in the energy storage market in North America.
“This agreement solidifies the strategic partnership between KORE and Nidec,” said Lindsay Gorrill, CEO and Founder of KORE Power. “Combined, our teams bring a century of advancing power technologies. Together we will drive energy storage opportunities forward for industrial, commercial and utility-scale customers.”
Dominique Llonch, president of Nidec Industrial Solutions, said: "Leveraging Nidec's expertise in power conversion and energy storage solutions, this partnership enables us to address the growing demand for energy storage projects. Our customers are seeking to maximise return on their deployment of intermittent energy sources. With our strength and reach in industrial solutions, and KORE's supply of proven lithium-ion technology, we will deliver new solutions to meet that demand.”
Energy storage provider Fluence Energy has been selected by Tilt Renewables to deliver the 100 MW / 200 MWh Latrobe Valley battery energy storage system (BESS) located south of Morwell in Victoria, Australia.
It will be the first “privately funded storage project in Australia to be incorporated into an exclusively renewable generation fleet”, a Fluence statement said.
The Latrobe Valley BESS will be developed by Tilt Renewables and will be built, serviced, and maintained by Fluence under a 20-year long-term service agreement. The energy storage system will use Fluence’s ‘Gridstack’ grid-scale energy storage product, while Tilt Renewables will also deploy Fluence’s AI-powered bidding software, ‘Mosaic’, and asset performance management software, ‘Nispera’ to optimise the market trading and operational performance of the asset.
“Fluence’s wealth of experience and track record in delivering reliable energy storage solutions aligns with our plan to help drive the transition to renewables in Victoria and Australia,” said Steve Symons, acting CEO at Tilt Renewables. “We are proud to partner with Fluence in delivering our first battery energy storage system in Australia.”
Jan Teichmann, Fluence SVP & president, APAC, said: “We are thrilled to work with Tilt Renewables to deliver the Latrobe Valley BESS, which is our first asset globally that will deploy the full Fluence product ecosystem. Tilt Renewables has been a long-term strategic customer for Fluence Digital, using Mosaic to optimise the market bidding of its wind portfolio since 2019, and we are honoured to extend and strengthen the relationship further with this energy storage project.”
Polish utility Orlen and Northland Power have secured a C$5.2bn ($3.9bn) credit deal to support their 1.1GW Baltic Power offshore wind project in Poland.
Orlen and Northland are developing the project in a 51:49 joint venture, and have secured the C$5.2bn ($3.9bn) funding from a consortium of 25 international and local commercial banks. The development's total capital cost is C$6.5bn ($4.6bn) and it is due to reach financial close "in the coming days".
Renewable energy company Ormat Technologies has agreed a multi-year contract with Gotion High-Tech for the supply of batteries for Ormat’s upcoming energy storage projects.
Under the contract, Gotion will provide Ormat with up to 750MWh of batteries with a “variable pricing structure, partly linked to lithium carbonate prices”.
“In addition to the signed agreement, the companies are discussing additional supply contracts and expansions to the existing signed agreement to provide Ormat with US domestic manufactured batteries from Gotion’s planned battery plant in Manteno, Illinois which will allow Ormat to benefit from higher investment tax credits,” a statement said.
Ormat currently has a 170 MW energy storage portfolio located in the US.
Doron Blachar, CEO of Ormat Technologies, said, “We have been encouraged by the long-term trends we’re seeing in the storage segment, and securing a critical battery supply while solidifying our supply chains gives us confidence in our ability to successfully advance our projects currently in development and achieve our long-term capacity goals. Our 2025 energy storage goal of 600MW to 670MW remains well within our reach, and this multi-year deal strengthens our confidence in Ormat’s ability to expand and grow our storage offerings into new regions both in the short-term and long-term.”
Chen Li, CEO of Gotion Global, said, “We are excited to deliver products that support the green energy transition and carbon neutral future for generations to come, and to begin manufacturing products right here in the United States. Gotion is committed to the US and Americas market by ‘our local for local’ strategy to enable the value chain, and we look to grow our presence through strategic partnerships and innovative solutions with developers like Ormat.”
Spanish utility Endesa has appointed Santander and Intesa San Paolo to sell a minority stake in a 2GW portfolio of renewables assets in Spain.
The portfolio is reportedly valued at around €2bn' and includes both operational and development-stage projects.
US renewables and storage firm First Light Power is set to add 2GW to its development pipeline by acquiring Canada's Hydromega Services.
Hydromega owns stakes in ten hydropower plants in Ontario and Québec; and also has a 2GW development pipeline of wind, solar, storage and hydro projects. The acquisition enables FirstLight to double its project development pipeline in the US and Acanada to 4GW,
The deal is due to close by the end of 2023.