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— The project’s IRR exceeds 15%
Minety, the United Kingdom, March 25, 2022, The Mintey project is Europe’s largest energy storage project at 99.8MW/99.8MWh and is about to celebrate its one-year anniversary of commercial operation. The project was completed in April 2021 and has been operating safely and efficiently with outstanding results.
Spanning across land larger than a football field, the 99.8MW/99.8MWh Minety project was installed with Sungrow’s NCM and LFP battery energy storage system (ESS) solution featuring high integration, minimizing the footprint and slashing the commissioning time which significantly reduces the system cost.
Sungrow ESS enables the project to be active in the UK local capacity market, frequency regulation market, triads market as well as arbitrage trading in spot and balance markets. Notably, the project preferentially provides Dynamic Containment (DC) services in the frequency regulation market and can earn 17 pounds per MW per hour.
As the latest frequency regulation service, DC services request the plant to respond to the power instruction of the grid within one second. Sungrow ESS well meets the requirement, making the project one of the rare 30% of the UK’s storage plants equipped with this function.
It’s reported that the project benefits more than expected with an Internal Rate of Return (IRR) of over 15%. The success of the Minety energy storage project has attracted an increasing number of partners, such as Enlight Energy, Afcon, Dalia Energies, Kahana Group, Solegreen, and the Energix Group, to visit the site. In addition, the Chinese Ambassador Zheng Zeguang visited the site in mid-March.
Energy storage unlocks the full potential of renewables. “It’s the era of energy storage,” said James Wu, Vice President of Sungrow. Despite making huge strides forward, the energy storage industry’s work in helping stakeholders across the value chain understand the technologies and the roles they can play in a renewable energy future is far from complete. Sungrow is prepared with new innovations like the liquid cooled ESS solutions and solar-plus-storage solutions to the thriving sector, the Company stated.
Sungrow Power Supply Co., Ltd. is the world’s most bankable inverter brand with over 224 GW installed worldwide as of December 2021. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial & industrial, and residential applications, as well as internationally recognized floating PV plant
solutions, NEV driving solutions and EV charging station solutions. With a strong 25-year track record in the PV space, Sungrow products power installations in over 150 countries. Last year, Sungrow shipped 3 GWh ESS worldwide, ranging from islands and high altitude plateaus to ports and residential installations. Learn more about Sungrow by visiting: http://www.sungrowpower.com.