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Automobile-to-grid (V2G) firm Nuvve grew its MW below administration by 10% in quarter two 2022 and is eying functions for varsity buses and the marine sector.

The San Diego-headquartered firm supplies an energy administration system (EMS) platform and bidirectional charging infrastructure to permit electric autos (EVs) to supply energy to the grid. Its EMS combination fleets of autos into digital energy crops (VPPs) which may then present energy and ancillary companies in the identical method as a utility-scale battery energy storage system (BESS).

The corporate has launched its newest monetary outcomes amidst a bunch of partnerships to rollout its tech, which holds enormous potential contemplating the dimensions of the EV market, throughout a number of sectors and geographies.

Monetary outcomes see internet loss balloon for Nuvve

Income for the three months to June 30 stood at US$1.3 million, a 32.6% enhance year-on-year. The majority of this, US$1.12 million, was services and products income: the sale of its bidirectional charging infrastructure contributing US$1 million, grid companies contributing US$50,000 and engineering companies income coming in at US$30,000.

Nevertheless, internet loss grew from US$6.2 million in Q2 2021 to US$47.2 million in Q2 2022, a 760% enhance. Promoting, common and administrative bills totalled US$8.1 million, analysis and improvement bills had been US$2.2 million whereas US$43.5 million in prices was attributed to ‘different earnings (expense)’.

The latter contains curiosity expense, impairment of deferred finance prices, change in truthful worth of personal warrants legal responsibility and by-product legal responsibility. A few of this can be associated to a inventory market itemizing in March 2021 by way of a enterprise mixture with New child Acquisition Corp, a particular function acquisition firm (SPAC).

Operational highlights and new partnerships

Its MW below administration reached 16.1MW by the top of Q2, a ten% enhance quarter-on-quarter, and it introduced a number of new partnerships.

A kind of is a memorandum of understanding (MOU) with the Maine Maritime Academy to create a framework of V2G clean-energy options throughout varied maritime functions. The work will probably be carried out at a brand new ‘Middle for Maritime V2G’ on the Academy’s headquarters.

Nuvve COO Ted Smith stated the Middle would serve to reveal the applying of Nuvve’s V2G expertise in maritime use circumstances at ports, islands and waterways.

“Integrating Nuvve’s patented V2G expertise into maritime infrastructure permits electrified transportation – together with marine vessels – to develop into worthwhile grid assets,” he stated.

The corporate has additionally partnered with energy firm Vistra to assist college districts modernise bus fleets by easing their entry to obtainable grant funding. The 2 have already helped districts apply for greater than US$4.5 million in grant funding to interchange diesel-powered buses with electric college buses (ESBs).

The ESBs would then maintain vital potential as V2G belongings as Gregory Poilasne, CEO of Nuvve, defined: “With massive batteries on-board and predictable operation instances, ESBs are an ideal use-case for vehicle-to-grid (V2G) expertise, particularly in these markets the place energy prices have proven vital volatility.”

Alongside the bidirectional charging and EMS platform making this attainable, Nuvve’s expertise additionally permits districts to guarantee their buses have sufficient energy to finish each day routes by way of its good fleet-management instruments. The instrument helps monitor battery ranges and intelligently schedule bus operation instances.

Vistra is thought within the energy storage sector for being the challenge proprietor of the 400MW/1,600MWh Moss Touchdown Energy Storage Facility in California, the most important BESS on this planet, and it expects to have 1,213MW of operational storage by 2026.

Nuvve’s present partnerships

The cope with Vistra is just like one the corporate struck with Californian utility SDG&E final month. The cooperation will see ESBs outfitted with V2G charging infrastructure by way of Nuvve’s platform to supply energy to the grid throughout emergency load discount occasions.

The Emergency Load Reduction Program (ELRP) was kickstarted by the California Public Utilities Fee in October 2021 to permit electrical energy customers to cut back utilization to assist keep away from grid outages throughout peak summer season season.

In April, Nuvve gained the right to provide ancillary services in Japan using its platform whereas the month earlier than it, together with a bunch of different teams within the house, signed an MOU with the US Department of Energy to accelerate the commercialisation of V2G technologies.

And in March, it partnered with Swell Energy which additionally has a VPP community however makes use of distributed energy assets (DERs) like rooftop {solar} PV and residential energy storage. The pair are investigating how EVs and related infrastructure and {hardware} can take part in Swell’s VPP community.

Nuvve is listed on the Nasdaq and has a market capitalisation of US$80.6 million on the time of writing.

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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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