Energy Vault builds five more energy storage systems in China
08 November 2023 12:26
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