Tag: Battery

Iberdrola and Multiverse Computing Launch Groundbreaking Battery Optimisation Pilot in Northern Spain

In an exciting collaboration, Iberdrola and Multiverse Computing have successfully delivered a pioneering pilot project in northern Spain aimed at optimizing the installation of grid-scale batteries. This initiative marks a significant leap forward in ensuring grid stability as renewable energy sources continue to proliferate.

Harnessing the Power of Quantum Computing

As the energy landscape evolves with the integration of renewable generation, electric vehicles, heat pumps, and other distributed energy resources, battery storage has become crucial for maintaining grid stability. Multiverse Computing’s cutting-edge solution leverages quantum and quantum-inspired algorithms to determine the optimal number, type, and locations of batteries within the grid network. This innovative approach not only reduces costs but also enhances network performance.

Pilot Project Highlights

Overseen by i-DE, Iberdrola’s distribution company in Spain, the pilot project focused on the electricity grid in Guipuzkoa, a region in the Basque Country. During the ten-month trial, quantum and quantum-inspired algorithms consistently matched or outperformed classical benchmarks, maximizing grid reliability and voltage control.

A Hub of Innovation

This project is part of Iberdrola’s Global Smart Grids Innovation Hub and the Gipuzkoa Quantum Program. The collaboration showcases how advanced technology can drive significant improvements in grid management and energy distribution.

Key Insights from Industry Leaders

“With the power of quantum computing, private and public institutions can meet sustainability goals while saving on both fixed and variable costs,” said Enrique Lizaso Olmos, CEO of Multiverse Computing. “We are proud to support the development of more reliable and economical green energy in Spain alongside a world-leading clean energy provider like Iberdrola.”

Estibaliz Goni, Process and Technology Director at i-DE, expressed optimism about the project’s future potential: “The results of this pilot project are encouraging, and we will continue exploring the deployment of this technology. There are many challenges to overcome to ensure we have the smart and robust grids required to deliver the energy transition, and innovations like this will help us get there.”

The Future of Smart Grids

The successful implementation of this pilot project signals a promising future for smart grids and renewable energy in Spain. By harnessing the capabilities of quantum computing, Iberdrola and Multiverse Computing are setting a new standard for efficiency and sustainability in the energy sector.

Stay tuned as Iberdrola and Multiverse Computing continue to lead the charge in the energy transition, paving the way for a greener and more resilient future.

#Iberdrola #MultiverseComputing #QuantumComputing #SmartGrids #RenewableEnergy #EnergyTransition #BatteryStorage #GreenEnergy #Sustainability #Innovation

Corre Energy and SemperPower Join Forces for Massive 320MW Battery Storage Project in the Netherlands

In a groundbreaking partnership, Corre Energy and Dutch battery specialist SemperPower have formed a joint venture to develop one of Europe’s largest battery storage facilities. Set to be built at the 320MW Zuidwending site in the Netherlands, this ambitious project marks a significant milestone in the continent’s renewable energy journey.

Pioneering Energy Storage

The joint venture (JV) will see SemperPower, owned by Return Energy, and Corre Energy collaboratively deliver a 640MWh, two-hour battery storage project. With an initial investment of €7 million, Corre Energy’s contribution will be represented by capital already invested in the project to date. This strategic partnership is poised to address critical grid balancing needs in the Netherlands, accommodate increasing renewable energy supplies, and create substantial societal and environmental benefits.

Environmental Impact and Future Prospects

The JV estimates the project will eliminate over 70,000 tonnes of carbon dioxide annually. This initiative complements Corre Energy’s Compressed Air Energy Storage (CAES) plans, offering an additional revenue stream and reinforcing their commitment to sustainability. The battery facility, sharing the same grid infrastructure as the planned CAES facility, will form a comprehensive energy storage hub capable of managing energy from milliseconds to multiple days.

Expertise and Economic Viability

SemperPower brings extensive expertise in battery infrastructure sourcing, development, and operation. Their responsibilities will include finalizing offtaker agreements and project financing, leveraging significant debt facilities. Thorough offtake demand and pricing analyses have validated the economic projections for the project, ensuring a sound financial foundation. With three existing projects in the Netherlands and a strong pipeline backed by Return Energy, SemperPower’s experience will be instrumental in the JV’s success.

Strategic Vision and Future Development

Targeting a fixed 10-12 year offtake agreement, the JV aims to mitigate market revenue risks. The final investment decision (FID) is expected in late 2025, which will propel the project into its next phase, delivering development fees aligned with industry standards. The total capital expenditure during construction and installation will be around €300 million, leading to recurring annual income once commercial operations commence in 2026.

Transformative Impact on the Energy Landscape

This partnership is not just about creating a massive battery storage facility; it’s about transforming the energy landscape. The multi-duration energy storage hub will enhance energy security, foster job creation, and boost the local economy. Keith McGrane, CEO of Corre Energy, highlighted the broader impact, stating, “This major new partnership with Semper Power and Return Energy speeds up and broadens our income profile for Zuidwending while delivering critical storage to meet future energy consumption needs. We believe batteries could play a major role in our current and future projects. It’s a model we can replicate and scale because the economics stack up, it can accelerate projects, and the technology is highly complementary.”

A Collaborative Effort for a Greener Future

Dennis Schiricke, CEO of SemperPower, emphasized the collaborative nature of the project, “Through this joint venture, we aim to support regional stakeholders by accelerating the energy transition, a goal achievable only through collective efforts. This project stands to bring numerous benefits to the local region, including enhanced energy security, job creation, and a boost to the local economy. By working together, we can inspire collective action and tackle sustainability challenges head-on.”

As local and national consultations commence, this joint venture is set to bring a new era of sustainable energy to the Netherlands. Stay tuned for updates on this transformative project, as Corre Energy and SemperPower lead the way towards a greener, more resilient energy future. #BatteryStorage #RenewableEnergy #GreenEnergy #EnergyTransition #CorreEnergy #SemperPower #SustainableFuture #NetherlandsEnergy #GridBalancing #CleanPower #EnvironmentalImpact #EnergySecurity #JobCreation #EconomicBoost