Biggest projects, financing and offtake deals in the energy storage sector in 2022 (so far)
Crimson Energy Storage, the largest battery system to have been commissioned in 2022 at 1,400MWh. Image: Recurrent Energy.
A roundup of the biggest projects, financing and offtake deals in the sector that Energy-Storage.news has reported on this year.
It’s been another landmark year for energy storage, part exemplified by the following news stories which marked the largest announcements of their kind over the course of 2022 (so far) and some of the largest ever in the energy storage sector.
Unsurprisingly, the biggest lithium-ion battery energy storage system (BESS) that came online this year was in California, the leading market for energy storage.
Developers Axium Infrastructure and Recurrent Energy, part of Canadian Solar, started operating the four-hour Crimson Energy Storage system in Riverside County in October.
The energy from the 350MW/1,400MWh project will be split roughly 60:40 between 14/15-year offtake deals with utilities Southern California Edison (SCE) and Pacific Gas & Electric (PG&E), respectively.
At the time the project was commissioned, California had around 3,000MW of grid-scale BESS online as per the latest figures then, while today it stands at around 4,700MW. Nearly all projects that have come online over the past year have been four-hour systems, in order to qualify for Resource Adequacy, the California ISO’s (CAISO) framework for ensuring utilities have enough capacity to meet demand.
July also saw the announcement of the largest commissioning of an energy storage project not using lithium-ion batteries or pumped hydro energy storage (PHES), the two dominant technologies in the sector.
A 100MW/400MWh vanadium redox flow battery (VRFB) was brought online, the first half of a larger system connected to the Dalian grid, in May.
The system in Liaoning Province in northeastern China is by far the largest VRFB in the world and could quite easily total more than all the other VRFBs put together.
Rongke Power, a spin-off from the Dalian Institute of Chemical Physics of the Chinese Academy of Sciences, supplied the battery technology
The biggest announced offtake deal by size was announced in May, when Norwegian lithium-ion battery gigafactory group FREYR agreed to sell system integrator Powin Energy 28.5GWh of its battery cells between 2024 and 2030.
The cells will first be supplied from FREYR’s gigafactories Norway – operational in 2023/24 – before later coming from FREYR’s planned facility in the US. It recently acquired a site in Georgia for the latter and accelerated its timeline and capacity plans although its still not clear when the US site will start producing.
Powin will integrate FREYR’s batteries into its BESS solutions across the globe.
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