Japan’s JERA, a U.S.-German joint venture and an Australian firm have teamed up to develop battery projects in the Asia-Pacific, including the world’s biggest, targeting a market expected to be worth several billion dollars by 2022.
The move marks a big green push for JERA, a joint venture between Tokyo Electric Power Co and Chubu Electric Power Co that is the world’s top buyer of liquefied natural gas (LNG) and one of the world’s biggest coal traders.
The plan is for JERA to fund energy storage projects with Australian renewable power developer Lyon Group, while Fluence – a joint venture between U.S. power company AES Corp and Germany’s Siemens AG – provides battery technology.
The companies will focus first on batteries for three solar farms, together expected to cost up to A$1.5 billion ($1.1 billion), that Lyon Group plans to build in Australia.
Globally, demand for utility-scale batteries is expected to rise to 28 gigawatts, worth more than $15 billion, by 2022, up from 2 GW committed by electricity providers in 2017, according to estimates from Fluence and others. Read More