Norwegian wind farm developer Eolus announced Monday that its wholly-owned U.S. subsidiary Eolus North America, Inc. agreed to acquire a U.S. solar and battery storage project under development - the subsidiary's first acquisition of solar cells and energy storage.
Located in western U.S., the solar cell project has a planned power of 500 megawatts (MW) with a storage capacity of 250 MW, according to the company’s press release.
"The project is in early development and has a place in line for network connection to deliver electricity to California," Eolus said, without providing details about the value of the acquisition, with whom the agreement was signed, or the exact location of the project.
"Provided that the project receives the necessary permits, it is expected that it will be operational in 2022 and may produce up to 1.5 TWh [terawatt-hours] of renewable electricity corresponding to the annual consumption of 140,000 U.S. households," it added.
"We are pleased about the opportunity to develop a solar cell project combined with industrial storage battery storage to fill the growing demand for renewable energy from U.S. companies,” said Hans-Christian Schulze, country manager for Eolus North America, Inc.
"Solutions for energy storage are becoming increasingly important in order for electricity networks to manage variations in supply and demand for electricity and to increase network stability. The more intermittent low-cost production from wind and solar power, the greater the potential for completion with large-scale solutions for energy storage," he added.
Eolus Vind is one of the leading projectors of wind power plants in the Nordic region.
By Hale Turkes