North American firm AES Corporation has signed two alliance agreements as it looks to dominate the global market with its lithium-ion Advancion® energy storage platform.
Both deals have been made through AES’s subsidiary, AES Energy Storage, and expands the firm’s reach to two thirds of the world.
The first sees it team up with Japanese automobile OEM Mitsubishi Corporation to target the Asia and Oceania markets.
The second, with power management company Eaton, will target utilities, industrial and commercial customers, independent power producers and power system operators across Europe, the Middle East and Africa (EMEA).
The energy storage market continues to grow, with 11 GW of energy storage capacity to be installed annually by 2020, according to Navigant Research.
More than a third of that capacity will be in Asia and Oceania, predicts Navigant.
Energy storage’s importance grows as utilities, as well as commercial and domestic users, store and use clean energy as governments attempt to use more renewable energy.
Energy storage offers a myriad of benefits to grid-scale companies, such as peak-saving and frequency regulation.
John Zahurancik, President of AES Energy Storage, said that working with leading companies provided a path for the rapid adoption of energy storage in important global markets.
“We see energy storage as key to a clean, unbreakable grid equipped to deliver power from the most efficient and cost-effective sources,” he added.
Mitsubishi Corporation and AES Gener, an AES subsidiary, are currently partners on the 20 MW Cochrane battery-based energy storage system, which is under construction in Chile.
AES has currently integrated energy storage into eight power markets, with AES’ energy storage solutions representing 116 MW in operation and three million MWh of delivered service.
AES is also in construction or late stage development of an additional 268 MW of energy storage.
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