UK storage player Highview Power has entered into a joint venture with Spanish outfit TSK targeting markets in Spain, the Middle East and South Africa.
The new company Highview TSK will go after accumulated joint sales revenues of €1bn by 2022 in these markets, by co-developing large-scale, long-duration energy storage plants using Highview Power’s cryogenics-based technology.
An initial number of projects have been identified for several gigawatt hours of clean energy storage to be developed from 2019 through 2022, the partners said.
Highview Power chief executive Javier Cavada said: “We are thrilled to be working with a global engineering, procurement and construction company of TSK’s calibre.
“They have an impressive track record of deploying large-scale energy projects around the world, and we are excited to work with them to deploy our cryogenic technology.”
Cavada said the partnership with TSK will help Highview Power accelerate momentum for its energy storage systems in global markets, for applications such as renewable energy time-shifting as well as developing hybrid plants based on cryogenic storage and traditional thermal generation systems.
TSK chief executive Joaquin Garcia Rico said: “After looking at a number of storage technologies, we have come to the conclusion that Highview’s cryogenic energy storage is the ideal solution to deliver long-duration, large-scale storage services to our customers.
“The technology is not only cost effective, it is scalable, clean, has a long lifespan and can be deployed now.”
TSK has constructed more than 20GW of projects across 35 countries, spanning both traditional energy and renewable projects such as solar, wind, and biomass, including more than 10 energy storage projects.
Highview Power has already built and connected two cryogenic energy storage plants to the UK grid.
The first plant was commissioned in 2014 in Slough, Greater London, with a capacity of 2.5 megawatt hours (MWh). In 2018, the company inaugurated a 15MWh plant near Manchester.
The 15MWh Bury plant provides several grid balancing services, including Short Term Operating Reserve and supports the grid during winter peaks.
Highview said it is also developing several large projects that will be hundreds of MWhs in scale across the US and Europe.