Regulatory News:
NHOA Energy, the company of NHOA Group (NHOA.PA) dedicated to energy storage, has signed the agreements and started the execution activities with Red Eléctrica, Spanish TSO, for the supply of two battery energy storage systems (BESS) in the Balearic Islands for a total power of 140MW and 105MWh energy. The systems will provide continuous support services to the islands' grids and represent, as an aggregate, the largest SATA (Storage as Transmission Asset) in Southern Europe.
The systems will be deployed in the islands' substations, to reinforce the safe and continuous supply of electricity and to maximize the power exchange of existing and future interconnections with Mallorca Island, encouraging the decarbonization of the Balearic Islands.
This project is included in the Spanish Electrical Planning (www.planificacionelectrica.es) and also in the National Integrated Energy and Climate Plan (Plan Nacional Integrado de Energía y Clima - PNEIC), which aims to increase renewable energy capacity, reduce greenhouse gas emissions, and enhance energy independence, while fostering economic growth and sustainability.
"We are grateful to Red Eléctrica for the award of this landmark contract. The 140MW project is a game changer for the entire region, representing the EU's largest smart grid battery storage initiative. By strengthening the interconnection between the islands and the mainland, the project shows how integrated energy storage solutions can be effectively implemented to foster the resiliency of national grids, in every landscape, especially in critical areas. We are seeing a step change in energy storage adoption in our Southern European markets and look forward to playing a pivotal role in enabling the region's energy transition", commented Fabrizio Ciaccia, Vice President EMEA of NHOA Energy
NHOA Group
NHOA S.A. (formerly Engie EPS), global player in energy storage, e-mobility and EV fast and ultra-fast charging network, 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 Group forms part of the CAC Mid Small and CAC All-Tradable financial indices.
For further information, go towww.nhoagroup.com
Follow us on LinkedIn
Follow us on Instagram
NHOA Energy
NHOA Energy is NHOA Group's business unit that designs and delivers turn-key energy storage systems, transforming solar and wind farms into sustainable energy sources available 24/7. As a pioneer in microgrids with renewables and green storage systems, NHOA Energy ranks among the top global system integrators with almost 20 years of experience and over 2GWh of capacity online and under construction in four continents around the world. NHOA Energy with offices in UK, US, Taiwan and Australia, maintains research, development, and production of its technologies entirely in Italy.
For further information, go towww.nhoa.energy
Follow us on LinkedIn
View source version on businesswire.com: https://www.businesswire.com/news/home/20241118077042/en/
Contacts:
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@nhoagroup.com
