The Capabilities to Create a Pan-European Platform

Recording of Wednesday, June 19, 2024 | The smarter E Europe 2024 | Conference Program | Language: English | Duration: 18:44 .

Giga Storage Outlines Ambitious Growth Plans and Strategic Developments in Energy Storage Solutions

In 2018, Giga Storage launched with the aim of addressing the pressing need for energy storage, a vital component in the transition from fossil fuels to renewable energy sources. Starting modestly with a 12-megawatt project named Giga Rhino in 2020, Giga Storage quickly learned about operational challenges but successfully created a market platform for battery operations. This led them into financial negotiations that culminated in the development of a second project called Giga Buffalo Battery. By striking an operational agreement with Dutch utility Eneco and securing bank financing based on strong revenue projections, they have consistently surpassed expected earnings. The company faced delays due to network congestion issues when attempting larger-scale projects but seized an opportunity after Aldel’s bankruptcy in 2022. Acquiring Aldel's large connection allowed them to expedite plans for a new substantial battery project aimed at being operational by late 2026.

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Speaker

Lars Rupert
Founder / CCO
GIGA Storage
The Netherlands

Talk of session: A Gigawatt-scale Revolution - Outstanding Energy Storage Projects in Europe

The era of "mega" and "giga" batteries has finally arrived in continental Europe, with hundreds of MW or even GW range-projects being announced on a regular basis. At the same time, durations are also increasing as revenue stacking becomes increasingly important with ancillary services saturating in key markets. Energy storage projects that enable "virtual transmission" are also growing in importance to address grid congestion as more and more renewables come online. Solutions are being sought across the continent for cost control, energy security and increased sustainability. In this session, we will take a closer look at some of the most interesting energy storage projects that reflect key industry trends in Europe, examining their set-up, drivers, economics, challenges and significance for the energy storage sector.