TOKYO, Apr 7, 2017 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce that it will be working through Enspire ME, a fifty-fifty joint venture established between MC and Eneco, an integrated energy company from the Netherlands, to provide services based on a large-scale battery energy storage system (BESS).
Enspire ME will construct the BESS in Jardelund, located in the state of Schleswig-Holstein in northern Germany. Construction is slated for completion at the end of 2017. With a maximum storage capacity of approximately 50,000kW, it will be the largest BESS in Europe to be located at one site. The project will use the system to provide capacity reserve(1) and balancing services to renewables, mainly in Germany and surrounding countries. In addition, MC and Eneco will seek to leverage this new system to boost the value of their jointly run offshore wind projects(2).
In Europe, the Paris Agreement adopted in 2015 has resulted in the acceleration of initiatives to facilitate a low-carbon society, including the aggressive promotion of environmentally-friendly policies aimed at achieving renewable targets. As solar, wind and other renewable sources, which are intermittent, replace fossil fuels as a source of energy and enter mainstream power grids, stabilizing the power supply also poses a challenge. BESS are considered to be an effective solution to that problem.
MC has been strengthening its involvement in the development of businesses that have high environmental value as part of its contribution to the realization of a low-carbon society. The company therefore remains committed to developing businesses that, like BESS, encourage greater use of renewable energy.
(1) Transmission system operators (TSOs) in Europe are required to secure a certain number of capacity reserves in order to prepare for sudden power loss or extensive blackout. Capacity reserves are procured through market transactions. The services offered on the market vary according to degree of urgency and duration of charge/discharge.
(2) MC and Eneco have established a Long-Term Strategic Partnership Agreement for cooperation in the offshore wind sector and are already jointly engaged in the operation of offshore wind projects in Europe. For more information, please visit the link below.
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.
Apr 7, 2017 10:51 HKT/SGT
Source: Mitsubishi Corporation
Mitsubishi Corporation (TSE: 8058)
Topic: Press release summary
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