Business
redT sign deal for 700MWh of German grid projects
redT sign deal for 700MWh of German grid projects.
About this update from Invinity Energy Systems Plc
[{"type":"text","content":"\n \nRNS Number : 7972V RedT Energy PLC 26 July 2018 \n\nThis announcement contains inside information\n \n26 July 2018\nredT energy plc\n \n(\"redT\" or the \"Company\")\n \nredT signs exclusive deal to deliver more than 700MWh of projects supporting German grid, with 80MWh as first phase deployment\nFlow machines replace coal power, providing grid services revenue and energy trading opportunities for infrastructure investors\n \nredT energy plc (AIM:RED), the energy storage solutions company, is pleased to announce that it has signed an exclusivity agreement with Energy System Management GmbH (ESM), a German energy development company, part of WWF solar, to deliver two 40MWh grid-scale energy storage projects in Germany as a first phase deployment, with plans to roll out a further 690MWh of projects in the future. \n \nThe first phase projects are fully developed, ready for financing, with planning approval, grid connection and approval to supply Secondary Control Reserve (SCR) to Germany and Austrian markets. The initial 80MWh phase, representing 1,066 of redT's Gen 3 tank units, is expected to begin construction in 2019, subject to financial close being reached.\n \nThis agreement means that redT has been selected as the sole energy storage supplier for a portfolio of network reinforcement projects across Germany. Alongside providing the energy storage solution, the Company will also bring its knowledge and expertise in terms of operating the machines, to create maximum trading revenue returns for infrastructure investors looking to finance the project. \n \nThe first projects will install a total of 80MWh of flow machines, across two sites, primarily to provide SCR, also known as Automated Frequency Response Reserve (aFRR) to the German grid. This is the first time flow machines will be used to provide SCR in Germany, with this service typically being provided by ramping coal-fired power plants. This service requires up to a 4 hour charge or discharge duration and is designed to maintain equilibrium on the electrical network between demand and supply. Providers of SCR are paid a fee based on their available power (MW) and energy (MWh) to charge or discharge to the grid when required.\n \nFlow machines offer a superior alternative to coal fired power stations, in that they ...