Rudong 25 MW/100 MWh EVx system became fully
interconnected to the local state utility grid in December 2023 as
planned, enabling full commissioning, inverse power and operational
activity powered by the State Grid
A second EVx system in Zhangye City, Gansu
Province, started in Q2 2023 has completed foundation work and
initial four floors of construction above ground
Both the Rudong and Zhangye EVx Gravity Storage
Systems have been formally designated and recognized as “new energy
storage pilot demonstration projects” by China’s National Energy
Administration (NEA) in their formal announcements last month
Combined with Rudong EVx, 468 MWh of the total
announced 3.7 GWh of Energy Vault’s EVx gravity energy storage
systems (GESS) are now under construction in China, the world’s
largest and fastest growing energy storage market
Construction of 17 MW/68 MWh EVx located in
Zhangye City, Gansu Province, 50 MW/200 MWh EVx located in Ziuquan
City, Jinta County, Gansu Province, and 25MW/100MWh EVx located in
Huailai Cunrui Town, Zhangjiakou County, Hebei Province began in
2023
Nine EVx GESS deployments now underway in China
totaling 3.7 GWh, each of which will generate future project
revenue royalty streams to Energy Vault as systems are built and
commissioned
Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault" or the
“Company”), a leader in sustainable, grid-scale energy storage
solutions, today confirmed that China state grid interconnection
and inverse power operation was achieved for the Rudong EVx system
in December 2023 while construction has commenced on three
additional grid-scale EVx™ gravity energy storage system (GESS)
deployments in China. Energy Vault's partners, China Tianying
(CNTY) and Atlas Renewable, now have nine EVx GESS deployments
underway in China totaling 3.7 GWh, each of which will generate
future project revenue royalties for Energy Vault.
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The Rudong 25 MW/100 MWh EVx system
became fully interconnected to the local state utility grid in
December 2023, enabling full commissioning, inverse power and
operational activity powered by the Chinese State Grid (Photo:
Business Wire)
In 2023, Energy Vault’s partners, CNTY and Atlas Renewable,
broke ground on multiple new EVx projects with local public
announcements, all of which are being made available on Energy
Vault’s website under the Investor tab: a 17 MW/68 MWh EVx GESS
deployment located in Zhangye City, Gansu Province, being built
adjacent to a renewable energy generation site and a national grid
interconnection site; a 50 MW/200 MWh EVx located in Ziuquan City,
Jinta County, Gansu Province; and a 25 MW/100 MWh EVx located in
Huailai Cunrui Town, Zhangjiakou County, Hebei Province. The latter
two projects were previously announced alongside four other
deployments in China, and are being built adjacent to renewable
energy generation and national grid interconnection sites. Upon
completion, the systems will augment and support ongoing balancing
of China’s national energy grid through the storage and delivery of
renewable energy.
As a testament to the growing adoption of Energy Vault’s gravity
energy storage technology within the China state energy policy
framework, the Rudong and Zhangye City EVx systems were recently
selected and announced formally last month in January 2024 as part
of a list of projects with the classification of “new energy
storage pilot demonstration projects” by China’s National Energy
Administration (NEA). Projects selected as demonstration pilots
receive the benefit of increased management oversight by
provincial-level energy authorities, allowing for coordination to
support progress related to construction, data reporting,
compliance, and safety measures, among other issues of focus. This
recognition highlights the substantial surge in demand for
renewable energy sources and emphasizes the indispensable role of
gravity energy storage in the crucial mission of global
decarbonization, in particular in China. China’s energy policies
now require renewable energy plants to integrate storage of 20% of
their nameplate generation capacity, with at least a 2–4-hour
duration. These energy storage durations are expected to increase
over time as more renewable energy generation becomes a larger
percentage of grid power.
“I am pleased to see the increased market adoption of Energy
Vault’s gravity energy storage technology in China, the world’s
largest energy storage market supported by the new project
groundbreaking announcements and other milestones within China’s
national energy policy framework for energy storage,” said Robert
Piconi, Chairman and Chief Executive Officer of Energy Vault. “We
look forward to sharing additional performance and project
development in the coming weeks and months as commissioning and new
project activities continue at a rapid pace.”
Andrea Pedretti, Energy Vault’s Chief Technology Officer,
commented: “Having just spent the last few days in Rudong at the
EVx site, I continue to be impressed with the local technical,
R&D and construction expertise brought by China Tianying and
their partners. Coupled with their internal and local manufacturing
capabilities for all of the mechanical systems, we have a great
partner to rapidly deploy our EVx and broader gravity energy
storage technology in China.”
Following the start of commissioning of the 25 MW/100 MWh EVx
GESS in Rudong in the second half of 2023, and the start of the
grid interconnection process in September 2023 as previously
announced, the system achieved full grid interconnection as noted
above in December 2023 following the prior completion in September
2023 of the final four kilometer 35kV Overhead Power Line to the
existing Remote End Substation, as planned with local state grid
authorities late last year. The formal state grid interconnection
to power the system achieved in December last year also follows the
successful capping of the structure on October 15, 2023, marking
the completion of construction of the facility.
Upon final provincial and state approvals for the start of
commercial operation to the state grid, the Rudong EVx will be the
world’s first commercial, utility scale non-pumped hydro gravity
energy storage system. Further updates with regard to the Rudong
EVx deployment are expected to be delivered as part of Energy
Vault’s upcoming fourth quarter and full year 2023 financial
results report, scheduled for Tuesday, March 12, 2024.
About Energy Vault
Energy Vault® develops and deploys utility-scale energy storage
solutions designed to transform the world's approach to sustainable
energy storage. The Company's comprehensive offerings include
proprietary gravity-based storage, battery storage, and green
hydrogen energy storage technologies. Each storage solution is
supported by the Company’s hardware technology-agnostic energy
management system software and integration platform. Unique to the
industry, Energy Vault’s innovative technology portfolio delivers
customized short-and-long-duration energy storage solutions to help
utilities, independent power producers, and large industrial energy
users significantly reduce levelized energy costs while maintaining
power reliability. Utilizing eco-friendly materials with the
ability to integrate waste materials for beneficial reuse, Energy
Vault’s EVx™ gravity-based energy storage technology is
facilitating the shift to a circular economy while accelerating the
global clean energy transition for its customers. Please visit
www.energyvault.com for more information.
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