TEPCO Takes 50 Percent Stake in a Battery Storage Project of RES
08 Dicembre 2017 - 01:00PM
JCN Newswire (English)
TEPCO Holdings, the Tokyo-based electric power company,
announced today it has acquired from Colorado-based Renewable
Energy Systems Americas Inc. (RES), 50 percent interests of Battery
Utility of Ohio, LLC (BUO), that provides frequency regulation
services to PJM, a regional U.S. transmission network operator.
TEPCO, through the acquisition, and RES will each own 50 percent of
BUO.
BUO uses a battery storage system manufactured by BYD America, a
large Chinese battery supplier, along with the RESolve(R) control
and monitoring software developed by RES, and provides balancing
services to PJM, which coordinates the movement of wholesale
electricity in all or parts of 13 states and the District of
Columbia. Acting as a neutral, independent party, PJM operates a
competitive wholesale electricity market and manages the
high-voltage electricity grid.
TEPCO expects to use the knowledge and technological expertise it
gains through this relationship to provide trading and balancing
resources to the newly deregulated electricity distribution market
in Japan by 2020.
"Battery storage facilities, similar to the BUO project, provide
fast-response frequency regulation service to help electric grid
operators manage the quick reconciliation between load and
generation across the grid," said Graham Reid, RES CEO, Americas.
"Energy storage, as well as renewable energy projects, continue to
lead us to a future where everyone has access to affordable
low-carbon energy."
"We are pleased to be partnering with RES, and this is essential
for TEPCO to accelerate the transformation of the energy industry
and the evolution of its businesses with advanced and
environmentally friendly technology", TEPCO Managing Executive
Officer Shinichiro Kengaku said, "TEPCO looks forward to creating
additional innovative business opportunities overseas."
About TEPCO
Tokyo Electric Power Company Holdings, Inc. (TSE:9501),
headquartered in Tokyo, Japan, is the largest utility in Japan
serving millions of homes and businesses. Worldwide the company has
more than 34 subsidiaries and 32 affiliates in 8 countries and
employs approximately 42,060 people. Consolidated revenue for the
fiscal year ending March 31, 2017, totaled 5.3 trillion Japanese
yen. The company was established in 1951 and is listed on the First
Section of the Tokyo Stock Exchange. For more information, visit
http://www.tepco.co.jp/en/corpinfo/index-e.html
About RES in the Americas
Since 1997, RES has been providing development, engineering,
construction, and operations services to the energy storage, solar,
transmission, and wind markets across the Americas. The company has
constructed more than 9,000 MW of renewable energy and energy
storage projects and over 1,000 miles of transmission lines,
including the 214 mile MATL project, throughout Canada and the U.S.
RES' energy storage expertise includes 240MW/275MWh and over 18
projects, including the first non-recourse debt financing for a
project.
RES' corporate office in U.S. is located in Broomfield, CO with
regional offices located in Austin, TX; Minneapolis, MN; Old
Saybrook, CT; and Sacramento, CA. Globally, RES has developed
and/or built over 12 GW of renewable energy capacity, has an asset
management portfolio exceeding 2 GW, and is active in a range of
renewable technologies including wind, solar, energy storage, and
transmission. For more information visit
http://www.res-group.com/en/.
About PJM Interconnection
PJM Interconnection is a regional transmission organization (RTO)
that coordinates the movement of wholesale electricity in all or
parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan,
New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee,
Virginia, West Virginia and the District of Columbia.
Acting as a neutral, independent party, PJM operates a competitive
wholesale electricity market and manages the high-voltage
electricity grid to ensure reliability for more than 65 million
people.
PJM's long-term regional planning process provides a broad,
interstate perspective that identifies the most effective and
cost-efficient improvements to the grid to ensure reliability and
economic benefits on a system wide basis. For more information, go
to www.pjm.com
About BYD
BYD's mission is to solve our global energy challenge of reducing
dependence on fossil fuels for transportation and power production.
This model has made BYD an industry pioneer and leader in several
high-tech sectors including high-efficiency automobiles,
electrified public transportation and medium- and heavy-duty
trucks, electric forklifts, energy storage, and solar power
generation.
As the world's largest manufacturer of rechargeable batteries,
their mission to create safer and more environmentally friendly
battery technologies has led to the development of the BYD Iron
Phosphate Battery. This fire-safe, completely recyclable and
incredibly long-cycle technology has become the core of their clean
energy platform that has expanded into automobiles, buses, trucks,
utility vehicles and energy storage facilities. BYD and its
shareholders, including Warren Buffett, see these environmentally
and economically forward products as the way of the future. For
more information, visit www.byd.com/usa/energy.
Image: https://www.acnnewswire.com/topimg/TEPCO_RES.jpg
Source: TEPCO
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