IE-Energy to Build Largest Battery System in Southeastern Europe
IE-Energy to build largest battery system in Southeastern Europe
Croatia got the green light from Brussels to give a EUR 19.8 million grant to a domestic startup for a massive energy storage project. IE-Energy is reportedly planning to build a battery system of 50 MW, which means it would be the biggest in Southeastern Europe.
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The European Commission has approved a EUR 19.8 million Croatian aid package in favour of energy storage provider IE-Energy under EU aid standards.
Waseem Shahid Malik CEO – Eco Energy Rating Ltd.
The package is intended to assist the company in partially financing the acquisition and installation of grid-scale batteries to offer balancing services to transmission system operators (TSOs). TSOs employ grid-scale batteries to maintain a continual balance between power station supply and customer demand and to store electricity as needed.
The aid is necessary and appropriate to address an existing market failure, the EU’s top regulator concluded
The assistance will be in the form of a direct grant, covering about 30% of capital costs. The commission determined that the assistance is required and suitable to solve an existing market failure, as there are few incentives to offer balancing services to TSOs via grid-scale energy storage facilities.
Furthermore, the measure helps to the upgrading of Croatia’s energy network, as well as rises in the country’s and EU’s energy security of supply, according to the executive arm of the 27-member union. According to the release, it will also speed the decarbonization of Croatia’s energy industry.
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Batteries are for balancing services for HOPS
IE-Energy to build largest battery system in Southeastern Europe
The headquarters of IE-Energy are in Rijeka, Croatia’s fourth-largest city. Last year, it joined the Croatian Power Exchange (CROPEX) intraday and day-ahead markets. According to documents, the project is set to begin on December 1.
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The company plans to install the battery system near Ibenik, Dalmatia. In the first phase, which is expected to be finished in the first quarter of next year, it will have 10 MW of operating power and a capacity of 22 MWh.
Furthermore, IE-Energy stated that by 2024, the system will be expanded to 50 MW and 110 MWh. There is currently no such storage facility in Southeastern Europe. A 250 MW project with a capacity of 1 GWh is currently under construction in Turkey.
Waseem Shahid Malik CEO – Eco Energy Rating Ltd.
Domestic media indicated that the batteries will be utilised for balancing services for Croatia‘s independent Transmission System Operator (HOPS).
According to the material provided by the European Union, the project is set to begin in early December.
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IE-Energy is developing virtual power plant
IE-Energy to build largest battery system in Southeastern Europe
The fundamental activity of the firm is the creation of a flexible and decentralised power provider – a virtual power plant or aggregator – to enable small and medium-sized power producers (prosumers) and consumers to engage directly in the energy market.
The fundamental activity of the firm is the creation of a flexible and decentralised power provider – a virtual power plant or aggregator – to enable small and medium-sized power producers (prosumers) and consumers to engage directly in the energy market.
Operators of such cloud-based systems pool available electricity sources to improve production when the transmission line is underutilised. Because electricity supply from wind and solar parks is unreliable owing to weather variations, aggregators play a significant role in the integration of renewable energy sources.
Waseem Shahid Malik CEO – Eco Energy Rating Ltd.
Virtual power plants can also coordinate a decrease in consumption, such as in factories and shopping malls, or facilitate an increase in consumption in the case of an increase in electricity production, such as when an unexpected burst of wind or sunshine increases the amount of renewable energy in the grid.
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Mytilineos to install PV plants, batteries for Mt. Athos monasteries in Greece
When it comes to technology, the Monastic Republic of Mount Athos in Greece is taking a tremendous leap forward. Not only will seventeen monasteries generate power from renewable sources, but the systems will be hybrid – a combination of solar and storage. Mytilineos was chosen as the general contractor.
Mytilineos to install PV plants, batteries for Mt. Athos monasteries in Greece
High-efficiency solar panels and storage systems offer electricity supply security, energy efficiency, and cost reduction while also protecting the environment. Greece and the independent Monastic Republic of Mount Athos saw the opportunity and understood that diesel-powered generators needed to be replaced with a cleaner source.
Domestic business Mytilineos was given the contract to install 21 solar systems for 17 monasteries and associated exterior units, with a total peak capacity of 2.64 MW. It stated that the procurement, installation, and operation will be handled by its Sustainable Engineering Solutions Business Unit (SES BU).
Monasteries on Mount Athos will get batteries with a total capacity of 5 MWh
According to a project study, Mount Athos, also known as Agion Oros (Holy Mountain), can fulfill three-quarters of its power needs using solar systems. However, according to Mytilineos, the deal with the monastic community includes lithium-ion batteries with a total capacity of 5 MWh, which would make the installations hybrid.
The region is known as “the garden of Panagia” – Mary, Jesus’ mother – and is not connected to the national grid. There is no mention of the Serbian Hilandar monastery, Russian Saint Panteleimon, or Greek Konstamonitou monastery.
Waseem Shahid Malik CEO – Eco Energy Rating Ltd.
According to Mytilineos, the project on Athos would cost EUR 12.8 million minus VAT and will last 18 months. It will be paid for with European monies received through the Central Macedonian regional government.
The photovoltaic systems will be installed for 17 monasteries on Mount Athos and their external units
The tiny solar power plants will minimise carbon dioxide and pollution emissions, as well as noise and dust emissions from diesel fuel transportation on dirt roads. According to the release, a digital energy management system (EMS) and high-efficiency equipment will help with energy efficiency.
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The reductions in primary energy usage were previously anticipated to be 4 GWh per year.
The Vatopedi monastery will have the largest solar power plant – 540 kW. The majority of the other units, including those in the Georgian Iviron monastery and Bulgarian Zograf, are rated at 144 kW.
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Waseem Shahid Malik CEO – Eco Energy Rating Ltd.
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