Latest news with #batterystorage
Yahoo
14 hours ago
- Automotive
- Yahoo
Tesla, Shanghai sign $557 million energy storage station deal, Yicai reports
BEIJING (Reuters) -Tesla's first China grid-scale battery storage station using its megapack batteries will be located in Shanghai, local media Yicai reported on Friday. The deal involving an investment of 4 billion yuan ($556.8 million) was signed between the U.S. automaker, China Kangfu International Leasing Co and the Shanghai local government on Friday, according to the report. Tesla's battery megafactory in Shanghai for making its megapack batteries began production in February. ($1 = 7.1840 Chinese yuan)
Reuters
15 hours ago
- Automotive
- Reuters
Tesla, Shanghai sign $557 million energy storage station deal, Yicai reports
BEIJING, June 20 (Reuters) - Tesla's (TSLA.O), opens new tab first China grid-scale battery storage station using its megapack batteries will be located in Shanghai, local media Yicai reported on Friday. The deal involving an investment of 4 billion yuan ($556.8 million) was signed between the U.S. automaker, China Kangfu International Leasing Co and the Shanghai local government on Friday, according to the report. Tesla's battery megafactory in Shanghai for making its megapack batteries began production in February. ($1 = 7.1840 Chinese yuan)
Yahoo
2 days ago
- Business
- Yahoo
Britain's risk of power outages this winter lowest since pre-Covid, Neso says
The risk of Britain having power outages this winter is lower than it has been for the past six years, according to forecasts by the public body responsible for keeping the lights on. The National Electricity System Operator (Neso) said there is set to be enough electricity to meet demand over the colder winter months. In its early winter outlook, Neso anticipates an average operational margin – the difference between supply of electricity and demand for it – of 6.6 gigawatts (GW) from the end of October to the end of March. This is the highest expected margin since the 2019-2020 winter and is greater than the 5.2 GW forecast last year. The publicly-owned operator is tasked with ensuring that the supply of and demand for electricity always remains balanced. If supply cannot meet demand then the country risks blackouts. An increase in the margin has been driven by several factors, Neso said, including growth in electricity supply from battery storage at both a national and regional level – which enables power from renewables to be stored and then released when it is needed. It also pointed to an increase in the availability of electricity generation from gas, and from a new power cable, known as the Greenlink interconnector, connecting electricity grids between Wales and Ireland. This increased supply is expected to more than offset an expected rise in demand during peak periods. The slight uptick marks a divergence from previous years, when demand has either stayed the same or fallen, but Neso said it is too early to say what might drive that increase. Neso said it expects there to be around six minutes over the winter period where it might have to resort to special measures to keep the grid running smoothly. In most cases where demand exceeds supply for a period of time, it is managed by the grid operator without any impact on consumers. Neso stressed it was remaining 'vigilant' in its preparation for the winter amid changes in global energy markets. 'Our early view of the winter ahead shows a positive outlook with sufficient margins throughout the colder winter months,' Deborah Petterson, Neso's director of resilience and emergency management said. 'We will continue to monitor developments in global energy markets, remaining vigilant in our preparations to ensure that the resilience and reliability of the electricity network is maintained.'
Globe and Mail
3 days ago
- Automotive
- Globe and Mail
Why Canada's largest battery project is an energy gamechanger
While you may expect to hear humming, there's almost no sound coming from the site of the recently-opened Oneida Energy Storage project – a plot of land filled with 278 lithium-ion batteries, each one about the size of a tractor trailer – producing 250 megawatts (MW) of electricity. Located on 10 acres in Haldimand County, Ont., the Oneida project is among the five largest battery storage facilities in the world, producing enough electricity to power a city of 200,000. 'It's a beautiful facility. I had more decibel readings from the birds chirping in the trees than I had from the batteries,' says Christine Healy, president and chief executive officer of Toronto-based global power producer Northland Power. 'It provides a necessary service right where we need it the most.' Serving the entire province, the batteries pull electricity from the Ontario power grid, holding it in times of surplus and releasing it in times of need. Over its operating life, the facility is estimated to reduce greenhouse-gas (GHG) emissions by between 1.2 and 4.1 million tonnes – the equivalent of removing approximately 40,000 cars from the roads. The Oneida project comes as battery storage is transforming how we manage energy usage, making it cleaner and more reliable by reducing reliance on fossil fuels and strengthening the power grid during times of peak demand. These types of facilities also help contribute to lowering emissions – something relevant to Canada, which has pledged to reduce its GHGs by 45 to 50 per cent by 2035. The Oneida project more than doubles Ontario's current energy storage resources from 225 MW to 475 MW – a boost that comes amid a broader push to expand energy storage across the province. In 2024, the Ontario government and Independent Electricity System Operator (IESO), the non-profit overseeing the province's grid, announced they procured an additional 2,195 MW of electricity generation and battery capacity – enough to power 2.2 million homes during periods of peak demand. This includes 1,784 MW of battery energy storage from 10 different projects. It also means that Ontario should have close to 3 gigawatts (GW) of energy storage capacity by 2028, exceeding the government's initial target of 2.5 GW. Battery storage provides a number of services to the grid, helping to balance electricity supply and demand and ensuring grid reliability and resilience. 'Being able to move energy from times of surplus to times of need is a real asset,' says Vittoria Bellissimo, president and CEO of the Canadian Renewable Energy Association. 'What you need to run a reliable, clean, affordable electricity system is a diversified set of supply resources but also demand resources.' The Oneida Energy Storage Limited Partnership (Oneida LP) is composed of government, public and private groups that help govern the project – including Northland Power Inc., which holds a 70-per-cent stake, economic group the Six Nations of the Grand River Development Corporation (SNGRDC), energy storage developer NRStor Inc., developer Aecon Concessions and the Mississaugas of the Credit Business Corporation. Oneida LP works with the Ontario government through IESO and Haldimand County at the municipal level, says Matt Jamieson, CEO and president of the SNGRDC. 'It's a great example of multiple layers of government and organizations working together.' The SNGRDC and NRStor first formulated the idea for an energy storage facility in 2018 before bringing it to Northland Power, which helped secure financing through the Canada Infrastructure Bank, Mr. Jamieson says. Natural Resources Canada also added a $50-million grant. According to Northland, the project opened in May and came in ahead of schedule and under budget at $700-million, rather than the $800-million projected in 2023. Located near the Six Nations of the Grand River reserve, which has a population of nearly 30,000, construction employed 180 Indigenous and Ontario workers at its peak, including 40 from the SNGRDC's construction partner, Aecon Six Nations. Since its inception, the SNGRDC has invested in renewable energy projects, deploying more than $50-million of equity capital into utility-scale wind, solar and battery projects. 'We always want to stay true to our values as Indigenous people,' Mr. Jamieson says. 'We viewed renewable energy as an opportunity for us to get involved in something that has a net-positive environmental result. You build these assets, and really you're harnessing the power of Mother Earth, the wind and the sun.' Mr. Jamieson connected Oneida LP with Aecon Six Nations to subcontract much of the site's construction. 'That translates into paychecks, which float back into our community's economy,' he says. 'But even more important, the construction of Oneida really built capacity in our work force. We now have that skill set to be competitive in the market.' Northland Power CEO Ms. Healy says working with Indigenous partners helped move the project forward and bolster the local economy through employment. 'That level of alignment is the special sauce to make these projects work.' The SNGRDC currently holds 2.5 GW of electrical capacity through its involvement in 25 renewable energy holdings and has plans to expand. In December, the SNGRDC and Quebec-based renewable energy company Boralex Inc. announced $538-million for a 300 MW battery storage facility in Hagersville, Ont. It will surpass Oneida as Canada's largest. Northland Power also just began building Jurassic Solar+, an 80 MW battery storage and solar generation project in Alberta, while Nova Scotia and Saskatchewan have also heavily invested in energy storage. Now that Oneida is up and running, time is of the essence when it comes to moving forward with Ontario's procured energy storage projects. 'Pace matters. We have to keep developing projects,' says Ms. Healy. 'Capital fundamentally goes where it's treated best and it's a global competition. Canada needs to make sure that we are at the top of everybody's list for where they want to deploy their capital.'
Yahoo
4 days ago
- Business
- Yahoo
Peak Energy acquires 48 MW ready-to-build solar portfolio in Japan
The portfolio of projects will come online progressively over 2026-2028 and be combined with battery storage to maximize climate impact and cost savings for customers. SINGAPORE and TOKYO, June 17, 2025 /PRNewswire/ -- Peak Energy, one of the fastest-growing renewable energy developers in Asia, has completed the acquisition of a unique portfolio of ready-to-build (RTB) high-voltage solar sites in Japan. Located across different regions of Japan, including Tokyo and Tohoku, the projects have a combined capacity of 48 MW, sufficient to produce nearly 60 GWh of zero-carbon electricity per year, equivalent to the power consumption of around 15,000 households. In the process, the solar systems will help avoid nearly 27,000 tonnes of CO₂ emissions annually, equivalent to removing around 9,000 cars from the road. The solar plants are scheduled to come on stream over 2026-2027, with the electricity output sold to corporates through long-term power purchase agreements (PPAs). Prices will be fixed from day one until the end of the 20+ year PPAs, allowing customers to make immediate savings on their electricity bills and to shield themselves from fluctuations in electricity tariffs over the long term. Selected sites will also see battery energy storage systems (BESS) collocated with the solar PV installations, allowing customers to make additional savings and expand their use of renewable power into the night. This transaction further highlights Peak Energy's rapid growth in Japan, following the acquisition earlier in 2025 of another set of ready-to-build high-voltage solar sites, of 11 MW. Peak Energy since 2022 also co-owns a 28 MW solar plant in Kyushu and actively offers corporate power users in the country a range of energy services, such as cheap onsite solar PPAs, offsite solar PPAs and collocated solar+BESS PPAs. "This acquisition further cements our position in Japan, where we are now uniquely positioned to serve large power consumers with cheap, clean energy at the scale the require and within the timeframe they need to meet their climate objectives," said Gavin Adda, CEO of Peak Energy. "I am particularly excited about Peak now also adding storage to some of our sites, to offer time-shifted PPAs, and helping some of our most ambitious consumers get closer to their 24/7 Carbon-Free Energy ambitions." About Peak Energy Headquartered in Singapore, Peak Energy develops, owns, and operates renewable energy assets across Asia. Peak Energy delivers clean, affordable, and reliable power solutions to corporate customers through a diverse range of business models, including utility-scale solar, off-site and on-site corporate PPAs, and battery storage. Across the Asia-Pacific region, Peak owns over 200 MW of solar projects in operation or under construction, along with 298 MWh of battery energy storage capacity in operation or under construction. Peak Energy is wholly owned by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, with approximately USD 73 billion in assets under management. Peak is a member of the 24/7 Carbon-Free Energy (CFE) Compact. View original content to download multimedia: SOURCE Peak Energy
