Regulatory News:
Global energy storage developer Eku Energy is due to commence construction shortly on two new battery storage projects in the UK. Together the two projects in Basildon, Essex and Loudwater, Buckinghamshire have an installed capacity of 130MWh and will provide vital flexibility to support the UK electricity system, enable more renewable generation and advance the UK's clean energy transition.
Since its launch in November 2022 Eku Energy has expanded rapidly and now has 1.2GWh of battery storage in delivery with operations in Australia, Italy, Japan, Taiwan and the UK.
The company has placed an order with NHOA Energy, NHOA Group's (NHOA.PA, formerly Engie EPS) business unit dedicated to energy storage, to supply two stand-alone battery energy storage systems for Basildon and Loudwater. Construction is due to commence at both sites in Q4 2023 and they are expected to be commercially operational by the end of 2024.
The deal between Eku Energy and NHOA Energy is an opportunity to develop a strong partnership as both businesses expand into new markets. NHOA Energy and Eku Energy will also undertake a long-term service agreement regarding the batteries' operational maintenance.
In its latest Future Energy Scenarios1 published this month, National Grid indicated it expects 10-20GW of battery storage to connect by 2030, up from 2.8GW today. Once operational, Basildon and Loudwater will provide vital grid services to increase system resilience and support the UK's net zero transition.
Sandra Grauers Nilsson, CEO of Eku Energy commented: "Battery storage is essential to the decarbonisation of electricity systems globally and Eku Energy is focused on delivering safe, secure and reliable solutions at scale and pace. We're delighted to have partnered with NHOA Energy on these two new battery storage projects as we continue to expand our global battery storage portfolio".
Lucie Kanius-Dujardin, NHOA Energy's Executive Vice President Global Markets Development commented: "We cannot wait to start working with Eku Energy on the Basildon and Loudwater projects, given our common values and similar approach to the energy transition. Entering the UK market with over 130MWh of projects for Eku Energy, a globally recognised energy storage developer, is an important step forward in NHOA Energy's journey and proves once again our global reach and execution capabilities".
Eku Energy already has a 40MW/40MWh battery in Maldon, Essex in construction and recently announced a new partnership with Renera Energy to develop 1GW of battery storage in Italy.
The company was initially established by Macquarie's Green Investment Group and is now jointly owned by a Macquarie Asset Management managed fund and British Columbia Investment Management Corporation (BCI).
ENDS
About Eku Energy
Initially established by Macquarie's Green Investment Group, Eku Energy is jointly owned by a Macquarie Asset Management managed fund and British Columbia Investment Management Corporation (BCI). Eku Energy's purpose-built team brings together specialist technical capabilities, with experience across origination, development, system design, power markets and software optimisation. By combining technical, digital and financial innovation with a local partnership approach and data driven understanding of markets, the company develops sophisticated revenue contracting strategies that maximise the benefits of energy storage systems in any given location. For more information, visit Eku Energy.
About NHOA Group
NHOA S.A. (formerly Engie EPS), global player in energy storage, e-mobility and EV fast and ultra-fast charging infrastructure, develops technologies enabling the transition towards clean energy and sustainable mobility, shaping the future of a next generation living in harmony with our planet.
Listed on Euronext Paris regulated market (NHOA.PA), NHOA forms part of the CAC Mid Small and CAC All-Tradable financial indices.
NHOA, with offices in France, Spain, United States, Taiwan and Australia, maintains entirely in Italy research, development and production of its technologies.
For further information, go towww.nhoa.energy
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1 National Grid Future Energy Scenarios 2023
View source version on businesswire.com: https://www.businesswire.com/news/home/20230720275342/en/
Contacts:
Media enquiries
Eku Energy:
Nicole Johnstone M: +44 (0) 776 103 9701 E: nicole.johnstone@ekuenergy.com
NHOA Group:
Press Office: Claudia Caracausi and Davide Bruzzese, Image Building, +39 02 89011300, nhoa@imagebuilding.it
Financial Communication and Institutional Relations: Chiara Cerri, +39 337 1484534, media.relations@nhoa.energy
