vitol in joint venture to build battery storage systems in u.k. - storage battery systems
Units of commodity trader Vitol Group and renewable energy investment fund Low Carbon Co. , Ltd.
They said they would invest 0. 25 billion. $311 million)
Develop energy storage and distributed power-
Power generation projects in the United StatesK.
The first effort between them, a joint venture called VLC Energy, will be two lithium-
Ion battery plant in USAK.
According to a statement.
The total capacity of these facilities will reach 50 MW, requiring "millions of Watts"
According to an electronic data, Sterling Investment
Mailing statement
The projects will take place in Cambria and Kent, UK.
Previously, low carbon won the August tender in the State Grid Plc enhanced frequency response (also known as EFR) and was eligible for the capacity market auction at a delivery price of £ 2020.
"Renewable energy is playing an increasingly important role in the United States. K.
With the expansion of this role, the development of energy storage plants will be the key to the future success of the United StatesK.
Roy Bedlow, chief executive of London energy network)
The statement said it was based on low carbon.
Storage usually appears missing to full-
Clean energy systems, because wind and solar energy are intermittent, still need fossil fuels such as natural gas to fill the gap when there is no wind or sunny days.
The pumped storage device constitutes almost all existing power storage devices, but can only be deployed near water sources.
The battery is getting cheaper and the cost has dropped by 40% since 2014.
Banks have recently started lending to battery projects, suggesting the technology is maturing. Utility-
Scale battery systems have been installed in the United StatesS. and Europe. The U. K.
Storage devices that will use VLC energy to keep the grid stable will allow the country to install more renewable energy.
The battery can be powered with a second notice.
Projects in Cambria and Kent are coming to an end financially and are currently under construction.
Low carbon and VPI Immingham aims to put into production in the fall of 2017.
The entire pipeline is expected to be deployed within three to five years.
EDF Energy Renewable Energy Co. , Ltd.
, Vattenfall AB, EON SE, partial Power Co. , Ltd.
, RES and Belectric Solar Ltd.
Also won a contract to build a power storage project in the United States. K. ’s EFR tender.