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Sustainable infrastructure funding fund supervisor SUSI Companions has acquired a portfolio of 10 ready-to-build battery energy storage system (BESS) initiatives in Texas, US.

The Switzerland-headquartered group has collectively acquired the 100MW portfolio with SMT Energy, a developer, proprietor and operator of utility-scale energy storage and renewable energy initiatives. Every BESS within the portfolio will probably be 10MW output.

SMT Energy CEO and founder John Switzer mentioned his firm was in a position to take the initiatives from ideation to shovel-ready standing in simply over a yr. The pair will personal and function the portfolio in South Texas, which can play into the Electrical energy Reliability Council of Texas (ERCOT) wholesale energy market on a service provider foundation.

“The imaginative and prescient was to personal and function a totally service provider, front-of-the-meter energy storage portfolio in Texas, and it took the correct companion to understand our idea,” Switzer mentioned.

Texas and specifically the ERCOT service space which covers about 80% of the state, has grow to be a hotbed for battery storage improvement.

That’s a consequence of varied circumstances, together with the open aggressive construction of the wholesale market, the expansion of {solar} and wind requiring extra storage to mitigate their variable era profiles and latterly the shortage of planning margins resulting in projected shortfalls in electrical energy provide at important occasions resembling summer time peaks and sudden winter storms.

Beginning simply a few years in the past, varied builders started planting their flags in ERCOT territory with smaller initiatives of as much as 10MW, with initiatives of 9.9MW or decrease benefitting from a faster regulatory approval course of. However as builders achieve extra expertise and show out the financial case with these initiatives, they’ve tended to maneuver onto greater techniques. It will likely be fascinating if the SUSI-SMT partnership is on the early phases of such a play.

The initiatives within the portfolio are focused for commissioning within the first half of 2023.

In a Guest Blog for this site last month, the CEO and founding father of a brand new developer wrote in regards to the compelling social, environmental, technical and financial dimensions to drivers for battery storage in Texas.

“[Texas] may see unsafe decreases in {solar} energy of over 20,000MW or 30% of complete provide throughout sundown if its {solar} queue is totally constructed out. This evolution, mixed with thermal retirements, present and potential rising regional carbon costs, and unbelievable load development, add important uncertainty and volatility to the markets,” Spearmint Energy founder and CEO Andrew Waranch wrote, simply a few weeks earlier than his firm introduced the acquisition of its first, 150MW, project in the state.

Texas is at present one of many two main states for US energy storage deployment, along with California.

In the meantime, SUSI Companions has a monitor document of investments in initiatives and applied sciences throughout the clear energy transition spectrum.

Additionally it is famous for its involvement within the energy storage sector, having acquired a 340MWh behind-the-meter battery portfolio in Los Angeles, California, in 2019, invested in varied large-scale commercial and industrial (C&I) battery projects in Ontario, Canada previous to that, and likewise fashioned a three way partnership (JV) with UK developer Eelpower to build out a 1GW project pipeline in that nation’s utility-scale battery storage market. That JV not too long ago acquired a 150MW UK development portfolio.

SUSI Companions mentioned that the SMT deal is its second within the US battery storage market after the California transaction, in addition to being the primary funding for SETF, a brand new energy transition fund it has launched. SUSI Companions manages funds with round €1.7 billion (US$1.73 billion) commitments from institutional traders.

“Having efficiently finalised the deployment of our devoted energy storage fund final yr, this funding via our fairness energy transition fund continues our dedication to battery storage as an essential enabler of renewables integration,” SUSI Companions head of fairness investments Richard Braakenburg mentioned.

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Foresight Group invests in 1.6GWh pumped hydro project



UK long-duration energy storage: 'Cap and floor' best investment mechanism available

Asset supervisor Foresight Group has invested in a co-located 1.6GWh pumped hydro energy storage and wind mission in Scotland.

The mission, on the disused 1,547-acre Glenmuckloch opencast coal mine close to Kirkconnel, will see the development of a 210MW/1,600MWh capability pumped hydro energy storage plant together with a 33.6MW wind farm.

The eight-hour system (7.62 to be actual) will utilise two 105MW reversible hydroturbines and assist stability the UK grid as extra renewable energy assets come on-line. The adjoining wind farm will comprise eight 4.2MW generators and can be capable of energy the pumped hydro plant.

Foresight Group, which describes itself as a sustainability-led different belongings and SME funding supervisor, has made the funding by means of its energy transition fund Foresight Energy Infrastructure Companions.

The agency didn’t reveal the quantity invested within the mission, however Britain’s nationwide broadcaster BBC reported in Might final 12 months that the mission required £250 million (US$285 million) of funding to be accomplished. The mission was accepted by the Scottish authorities in 2016.

Foresight has not supplied any info relating to the beginning of building or when it expects the mission to grow to be operational. This might imply that it isn’t placing within the full quantity required for the mission’s completion, that means it can presumably look to deliver different companions on board to get the mission off the bottom.

Energy-Storage.information has requested Foresight for particulars relating to this and can replace this text sooner or later.

The UK has solely 4 energy storage websites operational right now utilizing the century-old expertise, together with Drax’s 440MW facility at Cruachan Dam, pictured, additionally in Scotland.

One other proposed mission is the Coire Glas Pumped Hydro mission, additionally in Scotland, whose proponents wrote an article for a year ago concerning the potential of the expertise to assist the UK meet its internet zero targets.

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Australia’s CEFC helps Neoen Capital Battery hit financial close



Australia's CEFC helps Neoen Capital Battery hit financial close

Australia’s national Clean Energy Finance Corporation (CEFC) has invested to help a 100MW/200MWh battery storage project reach financial close.

CEFC has committed to lending AU$35.5 million (US$23.06 million) for France-headquartered clean energy developer and independent power producer (IPP) Neoen’s Capital Battery project, under construction in the Australian Capital Territory (ACT).

In the process, the council also found a co-lender, infrastructure fund manager Infradebt, which will match the CEFC investment. It’s the first time CEFC has made an arrangement of this type in a project financing.

It is however the third large-scale battery storage facility CEFC has helped fund. Both previous efforts were also for Neoen projects: Hornsdale Power Reserve in South Australia and the Victorian Big Battery, notable as being Australia’s first >100MW battery energy storage system (BESS) and the country’s current largest BESS respectively.

Neoen announced today that the Capital Battery has reached financial close, sharing a photo of the construction site on Twitter. As reported by in December 2021, work began late last year as Neoen issued a Notice to Proceed to construction and technology partners Doosan Heavy Industries and Construction and Doosan GridTech.

The IPP won the project through a competitive solicitation held by the ACT government in 2020. The state government had been seeking a BESS of at least 50MW output as part of a Renewables Reverse Auction, the fifth tender of its type in the ACT.

The tender awarded projects at record-low average prices of AU$50 per MWh. Neoen’s win included a contract to supply 100MW of wind energy from its Goyder Renewables Zone project in South Australia, along with the BESS award.

Although the tender award had been for a BESS of 50MW, Neoen said last year that it had seen demand surge for battery storage and the services it can provide, leading it to double the facility’s planned size.

This rapid increase in demand was borne out in the company’s half-year 2022 financial results. Neoen reported €39.3 million revenues from energy storage activities, driven mainly by money earned from its Australia projects, an increase of nearly three times from €13.4 million in H1 2021.

Long-term revenues backed by AGL ‘virtual battery’ contract

The Capital Battery project is underpinned by a so-called ‘virtual battery’ contract Neoen signed with major power generator-retailer AGL. As reported by in April, AGL will leverage a 70MW/140MWh portion of the BESS’ stored energy under a seven-year contract.

What makes it a ‘virtual’ deal is that AGL will use the system to participate in the National Electricity Market (NEM) through a grid connection in New South Wales, far away from where the BESS is being constructed in Canberra.

Neoen emphasised at the time that deal was announced that the system will be capable of providing network services as agreed with the ACT government in addition to being available for AGL to use.

The system is scheduled to go into operation in the first half of 2023.

“As Australia raises its ambitions to reach net zero emissions with new targets, we must heighten our focus on developing the enabling technologies that will be critical to our success. Battery storage is key to our ability to decarbonise the energy sector,” CEFC CEO Ian Learmouth said.

“These projects require substantial, tailored investment solutions, reflecting their high start-up capital costs and emerging and untested revenue models, alongside the ongoing development of the market for the risk mitigation services that batteries can provide.”

Learmouth said the CEFC’s lending for Neoen’s three projects helped demonstrate the “economic and grid stability case for large-scale batteries”.

Neoen currently has a total 576MW of battery storage in operation or construction in Australia and plans to build more, including a recently proposed 1GW/4GWh project in a Western Australia community with close historical and present day links to the coal industry.

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Hitachi buys out ABB’s interest in energy and power grids business



Australia’s Northern Territory taking ‘huge step’ towards 50% renewables with Hitachi Energy BESS

Japanese tech conglomerate Hitachi has purchased the remaining 19.9% stake held in Hitachi Energy by ABB.

Hitachi Energy was fashioned as a three way partnership (JV) between the 2 corporations as Hitachi acquired 81.1% possession of Switzerland-headquartered ABB’s energy grids enterprise in mid-2020. The JV was referred to as Hitachi ABB Energy Grids till October final 12 months, when it rebranded to reflect the new majority ownership.

Hitachi Energy is concerned in a broad vary of energy sector applied sciences and companies, together with excessive voltage DC (HVDC) transmission infrastructure, transformers, SCADA and management methods.

It additionally manufactures its personal vary of battery energy storage methods (BESS), referred to as PowerStore, principally aimed on the bigger industrial and utility-scale functions. Powerstore is modular and might be configured to be used with nickel manganese cobalt (NMC) battery cells from Samsung or lithium iron phosphate (LFP) cells from CATL.

Powerstore is designed for use in quite a lot of areas as it’s adaptable to completely different grid codes. The BESS is part of its Grid Edge Solutions portfolio, which additionally contains e-mobility gear and different distributed energy sources (DERs) gear, managed and monitored by Hitachi’s digital software program platform, E-Mesh.

The corporate introduced on Friday that it has signed an settlement with ABB for the remaining shares, which had all the time been the plan. Hitachi stated switch of shares will likely be accomplished by the tip of December.

“Electrical energy would be the spine of your complete energy system and the urgency of the energy transition requires us to collaborate and innovate throughout stakeholders and sectors, and the excellent news is that we will act now,” Hitachi Energy CEO Claudio Facchin, who can also be a senior VP and government officer at Hitachi, stated.

“Hitachi and Hitachi Energy have been producing synergies by combining digital and energy applied sciences which can be contributing to the worldwide energy transition.”

Hitachi Energy-supplied solar-plus-storage challenge opens at Canadian water remedy plant

In associated information, a {solar} PV plant at a water remedy facility in Alberta, Canada, went on-line on the finish of September, outfitted with a Hitachi Energy BESS.

Edmonton-headquartered water and energy companies firm EPCOR held the ability plant’s grand opening on 20 September, at EL Smith Water Therapy Plant within the metropolis of Edmonton. The water remedy plant serves about two-thirds of ingesting water consumed in Edmonton and 65 close by communities, pumping round 250 million litres of water day by day.   

The positioning’s 13.6MW {solar} PV array is paired with a 4MW/8.9MWh BESS in a behind-the-meter microgrid. If energy manufacturing exceeds necessities on the water remedy plant, it may be exported to the grid.

Named kīsikāw pīsim, which implies ‘daylight solar’ within the native Enoch Cree Nation language, the challenge is considered one of Hitachi Energy’s first to mix batteries with {solar} PV, with a lot of the firm’s initiatives up to now having been standalone BESS.

Different battery initiatives it’s at present engaged on include the first grid-scale BESS in Australia’s Northern Territory, which started development in late August-early September, and an EPC contract to work on a 20MW/20MWh BESS in the Philippines with Philippine energy firm Aboitiz Energy and renewables developer Scatec.

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