The Asia-Pacific projects will be handled by a team comprising of Japan’s JERA, a US-German joint venture, and an Australian firm. The team will also work to develop the biggest battery. The market is expected to grow to about seven billion dollars by 2022.
JERA, which is a joint venture between Tokyo Electric Power Co and Chubu Electric Power Co. They are one of the biggest buyers of Liquefied Natural Gas and also world’s biggest coal traders. JERA and Lyon Group will fund the energy storage projects. Lyon Group is an Australian Power developer. AES Corp and Siemens AG have also started a joint Venture with name Fluence that will provide the battery technology.
The primary focus for the companies will be to set-up three solar farms first which will cost about $1.52 billion. These farms will be in Australia. The growth of battery demand will be about 28 gigawatts in 2022 up from 2 gigawatts in 2017.
The role of batteries is crucial to stabilise the grid by fulfilling the demand for a small time period. It helps to eliminate the need for power plants in this time period.
Fluence will target the markets in Asia like China, Japan, Korea, and India. There are huge opportunities waiting for them. At present, Australia is the fastest growing country and can cope with the renewable energy expansion. The aging grid and soaring power prices are other reasons for the need to look for sustainable solutions.
The biggest battery would be of 400-megawatt hours and would be employed in South Australia for the Riverland Project. The current largest battery is manufactured by Tesla of 129 Megawatt-hours. The construction of all the three projects will begin within months.
David Green Chairman Lyon Group said:
There are many markets beyond Australia where big batteries can provide substantial value in terms of network strength and dispatchable capacity.
Source: The Business Times