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Swiss Life Plugs Into The Future With Acquisition Of Power-To-X Player

Swiss Life Asset Managers Acquires Vergia: Pioneering the Green Energy Transition in Norway

Exciting developments are unfolding in the world of green energy! Investment funds managed by Swiss Life Asset Managers have acquired Norwegian green energy transition platform Vergia from Arendals Fossekompani. This acquisition marks a significant step forward in the journey toward a sustainable future.

Fueling Growth and Innovation

The investment funds will provide essential financing to Vergia, fueling its growth and enabling the realization of key projects. One of the standout initiatives is a flagship green ammonia project in Arendal, Norway. This groundbreaking project will see the development and construction of a green ammonia plant and bunkering facility at the Eydehavn port, setting a new standard for sustainable energy solutions.

Vergia: A Visionary Platform

Established in 2022 and headquartered in Norway, Vergia is at the forefront of the energy transition sphere. By combining in-house expertise with strategic partnerships, Vergia focuses on developing infrastructure projects in alternative verticals, particularly Power-to-X and offshore wind. These initiatives are crucial in addressing Europe’s increasing need for renewable fuels to drive the energy transition.

Green Ammonia: The Future of Shipping Fuel

Swiss Life Asset Managers highlight the promise of green ammonia as a revolutionary fuel type poised to replace fossil fuels in the shipping industry. Emission-free and produced from water, air, and renewable energy, green ammonia offers a sustainable alternative that aligns perfectly with global decarbonization goals.

Strategic Insights from Swiss Life Asset Managers

“The acquisition of Vergia marks the first step in establishing a platform focusing on Power-to-X for our managed funds,” said Marc Schürch, Head of Renewable Energy at Swiss Life Asset Managers. He emphasized that Europe’s target to become climate neutral by 2050 can only be achieved through the decarbonization of all main forms of energy: electricity, heating, and fuels.

Norway: A Prime Location for Green Energy

Schürch further highlighted Norway’s strategic importance in the green energy landscape, noting its attractive locations and the experienced management team at Vergia. With a robust project pipeline and strong partnerships, the acquisition of Vergia provides an excellent foundation for building a successful platform dedicated to decarbonizing various sectors.

A Step Towards a Greener Future

This acquisition not only strengthens Swiss Life Asset Managers’ portfolio but also aligns with their ESG ambitions. By investing in innovative projects like the green ammonia plant, they are making significant contributions to the global effort to combat climate change.

Stay tuned as Vergia embarks on this exciting journey, driving forward the green energy transition and setting new benchmarks in sustainability.

#GreenEnergy #SustainableFuture #SwissLifeAssetManagers #Vergia #GreenAmmonia #RenewableEnergy #PowerToX #EnergyTransition #ClimateNeutral2050 #Norway #ESG

 

 

 

 

 

 

 

Credit:  [Image: Vergia]

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Luminus Charges Up With Plans For Massive Belgian Battery

Belgium’s Luminus Unveils Ambitious 100MW Battery Project in Ghent

Exciting news is coming out of Ghent! Belgian energy producer Luminus is taking a major step towards a sustainable future with their latest venture: a 100MW battery project at the Ringvaart power plant.

Powering Up with Innovation

Luminus has officially submitted a permit application for this groundbreaking storage park, which will seamlessly connect to the ELIA grid in the Ghent canal zone. This project is set to be a game-changer, addressing the ever-growing need for flexibility and stability in our electricity grid.

A Boost for the Community

Imagine a site with a 100MW capacity and an impressive storage capacity of 400MWh—enough to cover the daily consumption of 42,000 families! This ambitious project aims to be up and running by the end of 2026, bringing significant benefits to the community and beyond.

Leading the Renewable Energy Charge

“As number one in wind energy on the mainland and hydropower in Belgium, we are fully committed to renewable energy,” says Luminus CEO Grégoire Dallemagne. With battery projects like the ones in Ringvaart and Lixhe in Wallonia, Luminus is paving the way for greater grid flexibility and the continued growth of renewable energy sources.

A Sustainable Shift

Interestingly, the 400MWh battery project at Ringvaart will replace Luminus’ previous plan to install two to six open-cycle gas turbines at the same location. This shift underscores their dedication to sustainable energy solutions. Rest assured, the existing power plant will remain operational, ensuring no disruption to current energy supplies.

Stay tuned as this exciting project progresses and join us in celebrating another step towards a greener, more sustainable future!

#Luminus #RenewableEnergy #BatteryStorage #Sustainability #GreenEnergy #Ghent #EnergyInnovation

 

 

 

 

 

Credit: [Image: Luminus]

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Siemens Energy Makes Major Move

Siemens Energy to Hire Over 10,000 Employees in Major Grid Expansion

In a bold move to expand its electricity grid business, Siemens Energy has announced plans to hire more than 10,000 new employees. This initiative is part of a €1.2 billion, six-year growth plan aimed at bolstering the company’s Grid Technologies division, its largest revenue driver.

 A Strategic Response to Industry Challenges

As reported by the Financial Times, this ambitious expansion plan is expected to help Siemens Energy navigate the challenges faced by its wind turbine subsidiary, Siemens Gamesa. The Grid Technologies division, which already stands as the world’s second-largest manufacturer of electricity transmission equipment, is set to increase its workforce by two-thirds by 2030. The €1.2 billion capital expenditure will be allocated towards new factories and enhanced manufacturing capacities across the US, Europe, and Asia.

 Meeting Surging Demand

Tim Holt, head of the Grid Technologies division, emphasized the growing need for robust grid infrastructure. “Surging demand for electricity, a wave of renewable projects requiring better grid connections, and widespread ageing infrastructure are driving the need for advanced grid equipment,” Holt explained. This surge in demand is a clear indicator of the global shift towards renewable energy and the necessity for upgraded electricity transmission systems to handle the increasing loads.

 Global Expansion and Job Creation

Siemens Energy’s expansion is set to unfold rapidly, with the majority of the growth materializing within the next two years. Of the new jobs, 40% will be based in Europe, 20% in the US, 20% in India, and the remaining 20% spread across the rest of Asia and Latin America. This global distribution of new positions underscores the company’s commitment to strengthening its presence and capabilities worldwide.

 Impressive Order Growth

The Grid Technologies division has seen remarkable growth in recent years. From 2021 to 2023, orders doubled from €7 billion to €15 billion, with €12 billion in orders recorded in just the first half of this year. This impressive performance highlights the increasing demand for Siemens Energy’s grid solutions and the company’s ability to meet these needs effectively.

 Looking Ahead

Siemens Energy’s strategic expansion not only aims to address current industry challenges but also positions the company for long-term success in the evolving energy landscape. By investing in new infrastructure and significantly expanding its workforce, Siemens Energy is poised to play a crucial role in the global transition to sustainable energy. #SiemensEnergy #GridExpansion #RenewableEnergy #SustainableFuture #EnergyInfrastructure #GlobalGrowth #JobCreation #ElectricityGrid #EnergyTransition #CleanEnergy #TechnologyInnovation #IndustryLeadership #TimHolt

 

 

 

 

 

 

Credit: [Image: Siemens Energy]

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Wind Power Gets An Upgrade: ABO Wind Evolves Into ABO Energy

ABO Wind Becomes ABO Energy: A New Chapter in Renewable Energy

German renewable energy developer ABO Wind has officially transitioned from a stock corporation (AG) to a partnership limited by shares (KGaA), changing its name to ABO Energy GmbH & Co KGaA. This pivotal move marks the beginning of a new era for the company, reflecting its expanded focus and international ambitions.

 A Strategic Transformation

The change was solidified with the new company’s entry into the commercial register of the Wiesbaden District Court. The transition, overwhelmingly approved by 87% of shareholders at an Extraordinary General Meeting in October 2023, underscores a strategic shift aimed at preserving the influence of founders Jochen Ahn and Matthias Bockholt on future company decisions and corporate culture, especially amid anticipated capital increases.

 Embracing a Broader Vision

ABO Wind has long outgrown its original name. The rebranding to ABO Energy more accurately represents the company’s diverse expertise across four key technologies of the energy transition: wind, solar, storage, and hydrogen. This name change mirrors the company’s broadened vision and international reach, aligning with its growing pipeline of projects.

 Overcoming Challenges

The path to transformation wasn’t without hurdles. Despite the overwhelming shareholder support in October 2023, legal challenges delayed the implementation of the new structure. The April 2024 General Meeting was still held under the name ABO Wind AG. However, with all necessary documents submitted, the Wiesbaden District Court has now formalized the change, allowing ABO Energy to step confidently into its future.

 Looking Forward

Founding director Jochen Ahn expressed enthusiasm about the transition: “We are very pleased that we can now begin a new chapter in our company history as ABO Energy KGaA.” With a robust pipeline of 23GW across various technologies and an additional 20GW dedicated to hydrogen projects, Ahn remains optimistic about the future.

“Our business model and values remain steadfast,” Ahn continued. “As ABO Energy, we aim to build upon and expand the many good partnerships we’ve cultivated over the past 28 years. Transparency towards our shareholders is crucial, and we strive to make our company even more attractive on the capital market. Our commitment to Environmental, Social, and Corporate Governance (ESG) will undoubtedly support this endeavor.”

 A Bright Future Ahead

The rebranding to ABO Energy signifies more than a name change; it’s a commitment to a more sustainable future. By leveraging its extensive experience and expanding its technological portfolio, ABO Energy is poised to play a pivotal role in the global energy transition. This transformation highlights the company’s dedication to innovation, sustainability, and growth, setting the stage for continued success in the renewable energy sector. #ABOEnergy #RenewableEnergy #EnergyTransition #WindEnergy #SolarPower #EnergyStorage #HydrogenPower #Sustainability #CorporateGovernance #CleanEnergy #EnvironmentalCommitment #EnergyInnovation

 

 

 

 

 

 

Credit: [Image: ABO Energy]

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Powerhouse Partnership: Corre And SemperPower Team Up For Dutch Energy Storage

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

 

 

 

 

 

 

Credit: [Image: Corre Energy]

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Belgium Gets A Boost: Engie Begins Construction Of 200MW Battery Facility

Groundbreaking Ceremony Marks New Era for Vilvoorde with 200MW Battery Park

Excitement buzzed through the air as Mayor Hans Bonte, local officials, and energy enthusiasts gathered to celebrate the groundbreaking ceremony for a state-of-the-art 200MW battery park at the Engie site in Vilvoorde, Belgium. This monumental event marks a significant step towards a greener and more sustainable future for the region.

 A Leap Towards Sustainability

The French energy developer Engie secured the construction permit for this ambitious project in July 2023. Following its selection for a capacity payment in October 2023, the project swiftly transitioned from planning to action. A sprawling 3.5-hectare site has been prepared to host 320 battery modules, each an impressive 25 meters by four meters by three meters.

 Phased Power-Up

The park’s start-up will unfold in two phases: the first 100MW of batteries will go live in September 2025, with the remaining 100MW becoming operational by January 2026. Once fully functional, the park will boast the ability to store 800 MWh of power, capable of supplying electricity to 96,000 households for four hours—equivalent to 160,000 5kWh home batteries.

 Engie’s Global Vision

Engie’s commitment to renewable energy and storage is clear. The group aims to install 10GW of battery storage worldwide by 2030. In Belgium alone, in addition to the Vilvoorde site, Engie is developing two other significant battery projects: a 100MW facility in Kallo and an 80MW installation in Drogenbos. Permits for these projects have already been obtained, signaling a robust pipeline for the nation’s energy transition.

 The Future of Energy in Vilvoorde

Vincent Verbeke, CEO of Engie Belgium, highlighted the importance of this technology in balancing the intermittency of renewable sources like wind and solar power. “Our teams are more focused than ever on meeting the growing need for flexibility, with a view to providing sustainable, reliable, and affordable energy,” he emphasized.

Mayor Hans Bonte also expressed his enthusiasm for the project, noting the historic transformation of the site. “The Vilvoorde site will become a crucial link in making the Belgian sustainable energy transition a success,” he stated. He also mentioned plans for a green recreational area adjacent to the cooling towers, enhancing the city’s commitment to sustainability and honoring its industrial heritage.

 A Greener Future for All

As the Engie team and the city of Vilvoorde embark on this exciting journey, the 200MW battery park stands as a testament to innovative technology and unwavering commitment to a sustainable future. With projects like this, Belgium is not only poised to meet its energy needs but also to set a precedent for renewable energy integration worldwide.

Stay tuned for more updates on this transformative project as Vilvoorde paves the way for a greener, more resilient energy landscape. #SustainableEnergy #RenewableEnergy #BatteryStorage #GreenEnergy #EnergyTransition #Vilvoorde #Engie #FutureOfEnergy #GreenTechnology #CleanEnergy

 

 

 

 

 

 

Credit: [Image: Engie]

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Pacific Green Expands Battery Storage Portfolio With Acquisition In Poland

Pacific Green Technologies Enters Polish Market with Battery Energy Storage Acquisition

Pacific Green Technologies is making a strategic move into the Polish market by acquiring a majority stake in two 50MW battery energy storage schemes. This acquisition, from an international developer active in Poland, signifies Pacific Green’s ambitious plans to bolster its energy storage portfolio.

Key Highlights of the Deal

– Two 50MW Sites: Pacific Green will initially acquire a majority stake, with the balance of shares to be acquired upon achieving project milestones.
– 400MWh Storage Capacity: The combined storage capacity of the two sites is 400MWh, marking a significant addition to Poland’s energy storage infrastructure.
– Entry into Polish Market: This deal marks Pacific Green’s first venture into Poland, a country rapidly transitioning from thermal baseload power to renewable energy sources.

Strategic Importance

Earlier this year, Pacific Green outlined its ambitious plan to deliver over 12GWh of battery energy storage across four global markets, including Poland. The two projects, located in the Warsaw region and the south-west, are pivotal to this plan. Grid applications for these projects have already been submitted, and the sites are expected to achieve ready-to-build status by late 2024.

Insights from Leadership

Dane Wilkins, Managing Director of Pacific Green, emphasized the importance of this transition:
> “Poland’s traditional reliance on thermal baseload power is transitioning rapidly to non-dispatchable renewable assets, to meet obligations under the EU’s Fit for 55 and net zero commitments. This will necessitate grid-scale storage adoption across the country.”

He also highlighted the supportive regulatory environment and growing revenue opportunities in the Polish energy storage market.

Scott Poulter, CEO of Pacific Green, added:
> “Developing next-generation battery energy parks at scale and speed is our priority focus, and entry into Poland represents another important milestone for the business.”

The Road Ahead

Pacific Green’s entry into the Polish market is a testament to the country’s burgeoning potential for renewable energy storage. As Poland continues to strengthen its regulatory framework and expand revenue opportunities, Pacific Green is well-positioned to leverage its global development and construction expertise.

Join the Conversation

Share your thoughts on Pacific Green Technologies’ expansion into Poland and the future of energy storage.. #PacificGreen #BatteryStorage #EnergyStorage #RenewableEnergy #PolishMarket #CleanEnergyTransition #SustainableEnergy #GreenTech #ClimateAction #EnergySecurity #Poland #EUClimateGoals #FitFor55

Stay tuned for more updates on Pacific Green’s projects and the broader energy storage landscape. Together, we can drive the transition to a sustainable, energy-secure future.

 

 

 

 

 

 

Credit: [Image: Adobestock]

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ABO Energy Secures Green Light For Revolutionary Battery Projects In Northern Ireland!

ABO Energy Secures Approval for Groundbreaking 335MW Battery Projects in Northern Ireland!

ABO Energy has achieved a major milestone by securing planning approval for two significant battery energy storage schemes in Northern Ireland, with a combined capacity of 335MW/670MWh. These innovative projects are set to revolutionize the region’s energy landscape and play a crucial role in the transition to renewable electricity.

🔋 Enhancing Grid Flexibility:
These battery energy storage systems (BESS) will enhance the flexibility of the transmission grid, facilitating greater integration of renewable electricity. By storing power during off-peak times and delivering it when needed, these projects will ensure a reliable and resilient energy supply for homes and businesses across Northern Ireland.

🌿 Supporting Renewable Targets:
Energy storage is a key requirement for Northern Ireland to meet its ambitious renewable electricity consumption target of at least 80% by 2030, as outlined in the Climate Change Act. The Magherafelt Battery Energy Storage Scheme in Mid Ulster, with a capacity of 195MW/390MWh, and the Coolkeeragh Battery Energy Storage System in Foyle Port, providing 140MW/280MWh of storage, are strategically positioned to support this goal.

💡 Driving Economic Growth:
With a combined investment value exceeding £100 million, these projects will not only contribute to the energy transition but also provide a significant economic boost to the local economy. ABO Energy’s plans to develop £8 billion worth of schemes across the UK highlight their commitment to advancing modern, green infrastructure.

🌟 Leadership and Collaboration:
Patricia McGrath, ABO Energy’s Head of Project Development in Northern Ireland, expressed her gratitude: “Northern Ireland has huge potential to reduce its reliance on imported and expensive fossil fuels, but achieving that goal requires modern, green infrastructure. These projects, located at strategic points in the transmission network, will play a vital role in achieving the region’s renewable electricity target.”

She added, “I would like to thank our specialist teams in Northern Ireland and Germany for their efforts to bring the projects to this point. We are also appreciative of the professional approach taken by both Mid Ulster and Derry City and Strabane District Councils, who clearly recognize the urgent need to support Northern Ireland’s energy transition.”

🔗 Join the Renewable Revolution:
Stay tuned for more updates on these transformative projects and how they will shape the future of energy in Northern Ireland.

#ABOEnergrgy #RenewableEnergy #BatteryStorage #CleanEnergy #GreenInfrastructure #EnergyTransition #SustainableFuture #NorthernIreland #RenewableGoals #ClimateAction #EconomicBoost #Innovation #GreenEnergy #GridStability #NetZero

 

 

 

 

 

Credit: [Image: ABO Energy]

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Is This The UK’s Battery Breakthrough? SSE Project Reaches Milestone

Powering the Peak: Massive Battery Arrives at Ferrybridge! 

The future of clean energy storage is rolling into West Yorkshire! SSE’s incredible 150MW battery project at Ferrybridge just reached a major milestone with the arrival of the first of 136 battery units.

This colossal project will be three times the size of SSE’s first battery storage facility and once operational, could keep the lights on for nearly a quarter of a million homes during peak demand! That’s some serious power!

This innovative project is key to unlocking the full potential of renewable energy sources like wind and solar power in the UK. By storing excess energy during low-demand periods, Ferrybridge will ensure a more reliable and sustainable grid for everyone. ♻️

Construction is moving smoothly with OCU Energy leading the installation alongside crane specialists Notus Contract Lifting. The remaining batteries and a crucial 132kV transformer will be arriving soon, with completion expected by late 2024.

This is just the beginning for SSE! They have two more massive battery storage projects underway – a whopping 320MW facility in Monk Fryston and another 150MW project at Fiddler’s Ferry. The future of clean energy is bright in the UK! ☀️

Stay tuned for more updates on this groundbreaking project! #FerrybridgeBattery #SSErenewables #BatteryStorage #RenewableEnergy #UKPower

 

 

 

 

 

 

 

Credit: [Image: SSE]

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Power Boost: Alfen Delivers A Massive 20MW Battery To Supercharge Swedish Wind Farm!

 

Energizing Renewables: Alfen and Vasa Vind Unite for a Sustainable Swedish Powerhouse

In a groundbreaking partnership destined to reshape Sweden’s renewable energy landscape, Alfen has signed a pivotal agreement with Vasa Vind. This collaboration marks the debut of Alfen’s first battery energy storage system (BESS) co-located at a Swedish wind farm, setting the stage for a greener, more resilient power grid.

By the end of 2024, Alfen will not only design and engineer but also install and commission an impressive 20MW battery energy storage system. This isn’t just any battery; it’s a game-changer that will be connected to one of Vasa Vind’s wind farms, promising a future of sustainable energy. Alfen’s commitment goes beyond installation – they’ll also be providing ongoing service to this powerhouse of a battery.

Once operational, this energy storage system will link up seamlessly with the company’s wind farms in Stromsund. This integration is more than a technical feat; it’s a strategic move to enhance both local and national power grid stability and flexibility. The BESS will play a crucial role in Sweden’s ancillary services market, including Fast Frequency Reserve (FFR), revolutionizing how energy is stored and utilized.

But there’s a unique twist to Alfen’s system – its ability to “black start” the wind farm. In the event of a power outage or grid failure, the wind farm can spring back to life using energy from Alfen’s energy storage system. This capability is not just impressive; it’s a lifeline in critical situations.

Stephanie Schockaert, Commercial Director for Alfen’s Energy Storage Systems business, encapsulates the excitement of this venture: “We’re excited to partner with Vasa Vind to install our first battery energy storage system co-located at a wind farm in Sweden and continue to help our customers meet the growing demand for renewable energy.”

Alfen’s expertise in grid management and its diverse portfolio of solutions are set to empower Vasa Vind and the Swedish ancillary services market. This partnership is more than just a collaboration; it’s a beacon of innovation and sustainability in the heart of Sweden’s renewable energy sector.

#GreenEnergy #SustainableSweden #RenewablePower #EnergyStorage #WindFarmInnovation #AlfenEnergy #VasaVind #EcoTech #CleanEnergyFuture #SmartGrids

 

 

 

 

 

Credits: [Image: Alfen]