Hanwha Energy Achieves Success in US ESS Business... Growing as a Stable Power Supply Solution Company

[Asia Economy Reporter Hwang Yoon-joo] As renewable energy generation increases worldwide, energy storage system (ESS)-based power grid stabilization solutions are gaining attention. Hanwha Energy, which has proactively pursued power grid stabilization solution projects, is now actively expanding its business by achieving results in the ESS-based energy solution sector, primarily in the United States.

On the 23rd, Hanwha Energy announced that it had secured the Astoria Project, an ESS project with a capacity of 400MWh, being developed in New York State, USA. Through a contract with ConEdison NY, a major American power company, Hanwha Energy will be responsible not only for battery design and construction but also for seven years of operation. In November, it also secured the Silver Peak Project, a 240MWh ESS project in Nevada.

Unlike previous ESS projects linked with existing solar power plants, this newly secured project is significant as a standalone ESS project aimed at power grid stabilization.

Before securing this standalone ESS project for power grid stabilization, Hanwha Energy had already laid the foundation for energy solution businesses for grid stabilization by promoting frequency regulation projects based on ESS and projects combining solar power plants with ESS.

In October, Hanwha Energy was selected as the final contractor for the Kupehau Solar Project, a 79MW solar and 240MWh ESS-linked project led by the Hawaii Electric Company (HECO). In Hawaii, Hanwha Energy had previously secured the Hoohana Solar Project in December 2018, a project with 83MW solar and 208MWh ESS capacity. In July, together with Korea Midland Power, Hanwha Energy signed a power sales agreement with NV Energy for the Boulder Solar Project in Nevada, a power generation project with 164MW solar and 230MWh ESS capacity.

Notably, the 120MWh ESS facility in Ireland, which Hanwha Energy secured in the second half of last year and is currently constructing with a target operation date in the second half of next year, is an ESS project that provides frequency regulation (FR) to maintain a stable alternating current while supplying power. Through this project, Hanwha Energy expects to strengthen its presence as a global power grid stabilization solution provider by securing advanced technology in frequency regulation and preemptively capturing the market.

As the global power market rapidly shifts its generation mix toward renewable energy, rapid growth in ESS projects aimed at stabilizing power supply is anticipated. In this context, Hanwha Energy’s strategy is to expand its energy-related business areas by establishing unparalleled competitiveness through the expansion of energy solution businesses based on technology for power supply stabilization, in addition to its solar power generation projects.

This content was produced with the assistance of AI translation services.