Energy Vault builds five more energy storage systems in China

08 November 2023 12:26

Greater ZurichSwissCham Hong Kong

Lugano/Miami/Hai'an City - The Ticino-based company Energy Vault, which specializes in utility-scale energy storage solutions, is to build an additional five energy storage facilities with the Chinese company China Tianying. One was put into operation in the country in June. A second is in the planning stages.

Energy Vault has announced that the environmental management company China Tianying will build five more of Energy Vault's elevated storage power plants (EVx). This brings the total number of existing and planned EVx installations in China to seven. According to a statement, their total volume amounts to 3.26 gigawatt hours. The project volume amounts to more than one billion euros. Energy Vault has a five per cent revenue share in each of these projects through its license and royalty agreement with the Miami-based renewable energy specialist Atlas Renewables.

The five newly agreed plants will be built in the provinces of Hebei, Jiangsu, Gansu, Jilin and Xinjiang. Commissioning of the first EVx in Rudong County began in June 2023. The EVx structure is now fully completed. According to Energy Vault, once the state grid connection and homologation process has been completed, it will be “the world’s first commercial, utility scale non-pumped hydro gravity energy storage system”. Another EVx was already planned in Inner Mongolia.

“As we commission the first 100MWh system in Rudong, which we have optimized for the China market requirements, we are pleased to be quickly expanding this groundbreaking technology,” commented Chairman of China Tianying, Yan Shengju. It will enable alternative power generation to more readily replace other fossil fuel-based generation, he said. ce/mm

Swiss Pavilion Digital

Previous newsletters