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NEC Energy Solutions to Deliver the Largest Energy Storage System to Be Financed by Crowdfunding - Odessa American: Business

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NEC Energy Solutions to Deliver the Largest Energy Storage System to Be Financed by Crowdfunding

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Posted: Friday, March 13, 2020 2:00 am

WESTBOROUGH, Mass.--(BUSINESS WIRE)--Mar 13, 2020--

NEC Energy Solutions, Inc. (NEC ES), announced today it has been awarded a 12MW energy storage project by GIGA Storage in The Netherlands. The project will be a part of the Test Centre for Renewable Resources from the Wageningen University & Research (WUR). Once completed, the project will be the most powerful energy storage project in the country providing grid resiliency for approximately 5,000 homes. The construction and operation of this system was financed by crowdfunding on DuurzaamInvesteren.nl and raised over $4 Million USD.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200313005023/en/

Known as GIGA Rhino, the system will enable increased amounts of renewable energy on the grid, making it more stable through balancing the local smart grid. The system is located at the WUR test center in Lelystad next to the Neushoorntocht wind farm and will also be used for Frequency Containment Reserve (FCR) and imbalance and curtailment services. The storage project will become an invaluable tool for the local smart grid.

“Due to the increase in sustainable renewable energy on the grid, there is an increasing need for energy storage,” said Ruud Nijs, CEO of GIGA Storage. “Storage and control of electricity is crucial for a reliable and affordable energy system. The GIGA Rhino energy storage system is the first step in making it possible to close down coal-fired power stations."

GIGA Rhino is the largest battery storage installation which has been funded primarily by means of a crowdfunding program. The project is also the recipient of a subsidy from the Netherlands Enterprise Agency (RVO.nl) within the framework of the “Demonstration Energy and Climate Innovation” scheme, better known as DEI +. Key partners include NEC, the battery supplier, GIGA Storage, the owner and manager of the system, and Windnet, the owner of the local smart grid.

“The GIGA Rhino system is our first project in the Netherlands and we are thrilled to partner with GIGA Storage, WUR, and Windnet” said Mark Moreton, sales director EMEA for NEC Energy Solutions. “This is a landmark project since it is not only the most powerful energy storage system in the Netherlands, but it will also stabilize the grid and reduce greenhouse gas emissions. The fact that GIGA Storage took such an innovative approach and successfully financed this project via crowdfunding shows that the excitement in grid energy storage goes all the way to the people; individuals who are putting their own money into the project. As we continue to expand across Europe, we look forward to working with Giga Storage on similar projects throughout the region.”

About GIGA Storage

GIGA Storage realizes large-scale energy storage in Europe. Investments are made in projects for both energy supply optimization and grid stability. GIGA Storage aims to become the market leader in energy storage. Learn more at www.giga-storage.com

About NEC Energy Solutions

NEC Energy Solutions designs, manufactures, and integrates smart energy storage solutions for the electric grid and applications with critical power needs. Its megawatt-scale energy storage and control systems provide greater stability to the grid while maximizing renewable generation, while in telecom, datacenter, and other industrial applications, its high performance lithium-ion battery systems provide better value than traditional lead-acid batteries in tough, critical power applications. Learn more at www.neces.com.

NEC is a registered trademark of NEC Corporation. All Rights Reserved. Other product or service marks mentioned herein are the trademarks of their respective owners.

©2020 NEC Corporation

©2020 GIGA Storage

View source version on businesswire.com:https://www.businesswire.com/news/home/20200313005023/en/

CONTACT: NEC Energy Solutions

Roger Lin,rlin@neces.com

+1-508-497-7261GIGA Storage

Maarten Quist, COO,Maarten.Quist@giga-storage.com

+31 (0)6 54 35 00 35

KEYWORD: MASSACHUSETTS AUSTRALIA/OCEANIA UNITED STATES UNITED KINGDOM NORTH AMERICA AUSTRALIA EUROPE

INDUSTRY KEYWORD: OIL/GAS ALTERNATIVE ENERGY ENERGY OTHER ENERGY UTILITIES

SOURCE: NEC Energy Solutions, Inc.

Copyright Business Wire 2020.

PUB: 03/13/2020 03:00 AM/DISC: 03/13/2020 03:00 AM

http://www.businesswire.com/news/home/20200313005023/en

© 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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