April 4, 2019: A round-up of the deals, agreements and partnershis in the energy storage industry
Saft signs JV deal with TET to expand Li-ion activity
French battery firm Saft, a subsidiary of Total, announced on April 4 it is going to create a joint venture with Tianneng Energy Technology, a subsidiary of the Chinese privately-owned Tianneng Group, to expand their lithium ion cell production.
Saft has a 40% shareholding in the JV, while the Tianneng Group will hold the remaining shares.
The partners plan to ramp up production at the Changxing Gigafactory, which has a potential capacity of 5.5GWh, to meet growing demand, mainly driven by e-mobility and the development of renewables.
The JV will primarily focus on the development, manufacturing and sales of advanced lithium ion cells, modules and packs for China and worldwide markets.
The JV is the first strategic move driven by Total, following the acquisition of Saft in 2016, to grow Saft’s activity in China.
Statkraft and RedT announce partnership
Norwegian renewable energy firm Statkraft and vanadium redox flow battery company RedT announced a partnership on March 25 to deliver solar+storage projects for commercial and industrial customers in the UK.
The partnership will provide behind-the-meter solar and energy storage projects, initially up to 10MWp of solar and 6MWh of energy storage, scaling to 100MWp of solar and 60MWh of ESS over three years.
Statkraft will provide its virtual power plant technology.
Equinor, Hanon and Volta Energy join larger consortium
Equinor and Hanon Systems have made a five-year investment agreement with energy storage investment firm Volta Energy Technologies, the US firm announced on March 26.
The companies join founding investors Exelon and Albemarle Corporation in a consortium that aims to identify and invest in energy storage technologies.
Norwegian firm Equinor develops oil, gas, wind and solar energy in more than 30 countries. South Korean company Hanon Systems supplies thermal and energy management products for the automotive industry.
RDIF and Aggreko announce strategic partnership on microgrids
The Russian Direct Investment Fund, Russia’s sovereign wealth fund, and energy storage firm Aggreko announced an agreement on March 20 to cooperate on the development of microgrids.
The deal includes building facilities that will provide uninterrupted power supply and temperature control to industrial enterprises and utilities in the Russian regions.
Kirill Dmitriev, CEO of the RDIF, said: “The partnership with Aggreko is designed to secure the location of advanced technologies for distributed energy in Russia, ensuring a continuous power supply for companies from various sectors of the economy.”
ABB and Rolls-Royce team up for microgrid deployment
Technology giant ABB and automotive OEM Rolls-Royce announced a global partnership on microgrid technology and advanced automation on April 2.
The two companies will offer microgrid solutions for utilities, commercial and industrial applications.
Rolls-Royce’s MTU Onsite Energy brand power system solutions is designed for mission critical, standby and continuous power in microgrid applications.
ABB says its Ability and e-mesh products can ensure a stable power grid, even with a high share of renewable energy from various sources, working with already installed gas or diesel engines.
Magnis unveils term sheet to build US gigafactory
Australian graphite mining firm Magnis Energy Technologies announced on March 13 that Imperium3 New York — the consortium it has a 47% share in— had signed a term sheet for $52 million in funding via a pre-issued European bond used to fund renewable energy projects.
The consortium is working towards re-engineering the former Alevo plant it bought in the first half of 2018 and transported to Endicott, New York, in the second half of the year, into a US lithium ion gigafactory.
Once completed, the plant will have an annual capacity of more then 1GWh using Charge CCCV’s (C4V) cobalt-free technology.
The debt financing consists of two stages; the first payment of $30 million on completion of final documentation and checks by both parties, with the balance to be paid 12 months later with no milestone attached.
Final documentation is expected within 50 days of March 13, with all other details marked as commercial in confidence.
Hanwha Q CELLS and Eguana in European home ESS agreement
Korean headquartered Hanwha Q CELLS and Eguana Technologies announced an exclusive agreement on March 4 where Eguana’s lithium ion Enduro Home storage system will be marketed, sold and distributed throughout the European Union, Switzerland, and Norway under the Q CELLS brand.
The agreement has an initial order of 500 units, with scope to add a further 1,500 units through the second year of the contract year.
Home storage systems are included in more than 50% of new solar systems sold in Germany, with Hanwha Q CELLS, the German subsidiary of Hanwha Q CELLS, a major installer of residential PV installations.
Centrica signs DSR contract with TEPCO
British company Centrica began supplying Tokyo Electric Power Company with its industrial demand side response platform for Japan’s grid on April 1.
An agreement between the firms will see transmission system operator TEPCO Ventures use the UK firm’s DSR platform to provide flexibility services for the reserve market in the Kyushu region.
Centrica’s DSR FlexPond platform will be delivered under a commercial software as a service model, which allows utilities to use the platform to build their own virtual power plants and deliver DSR capability through a variety of flexible generation and demand facilities.
Energy blockchain pioneer Electron receives investment from OVO
Grid technology firm Kaluza, the intelligent energy technologies subsidiary of power utility OVO, announced on March 12 it had secured a minority stake in blockchain start-up Electron.
Electron will use the investment to accelerate the development and deployment of its energy platforms and systems.
The deal is the first strategic investment for Kaluza, which develops and manages software and hardware to support the integration of electric vehicles, electric heating and battery storage on to the grid.
The deal means that Paul Massara will be stepping down as CEO but will remain involved in Electron as an adviser and an investor. Electron co-founder Jo-Jo Hubbard moves from COO to CEO.
The deal comes a month after OVO announced Mitsubishi Corporation had taken a 20% stake in the business.
OVO will use the proceeds to expand into new markets across Europe and Asia Pacific and accelerate the development of Kaluza.
US firm sign deal to deliver 12MW of solar connected storage
US energy storage firm Northern Reliability has signed an agreement with power utility Today’s Power, a subsidiary of the Arkansas Electric Cooperatives, to deploy two 6MW/13MWh lithium ion systems to store power from a solar array.
The $10.5 million deal, signed last month, will help NR to stabilize the grid during peak demand.