Latest news with #BESS
Bangkok Post
5 hours ago
- Business
- Bangkok Post
Banpu Next aiming to expand beyond Japan
Banpu Next, the energy technology arm of energy conglomerate Banpu Plc, is planning to expand its battery energy storage system into Asia-Pacific nations other than Japan where it has established a battery farm to support the state grid, which increasingly depends on renewable power. Known as BESS, a battery energy storage system holds electricity from the sun and wind, which are intermittent sources of energy generation depending on weather conditions and seasons. Banpu Next sees potential in the BESS business enhancing grid stability and supporting power trade in countries that promote more use of clean energy, said chief executive Smittipon Srethapramote. The company, through subsidiary Banpu Japan, started the operation of a 58-megawatt-hour BESS farm in the city of Tono last month. The facility is designed to supply electricity to 5,800 houses. "We set a goal to develop more BESS farms, bringing total capacity to 1 gigawatt-hour throughout Japan by 2030," said Mr Smittipon. "We are also seeking new opportunities to invest in this business in other Asia-Pacific countries." BESS development aligns with the Japanese government's decarbonisation campaign. The Ministry of Economy, Trade and Industry (METI) grants subsidies to investors venturing into BESS projects in the country. Last year the METI launched a programme to support large-scale BESS installations, especially those linked with solar farms, to ensure renewable power will be smoothly supplied to customers. Banpu Next is among the companies receiving financial assistance from the Japanese authorities. The company is developing three other BESS projects in Japan, scheduled to start commercial operations by 2028. They include a 104-MWh battery farm in Tsuno in Miyazaki prefecture. The project, co-invested by Banpu Japan, lending firm Fuyo General Lease and Global Engineering, costs 1.3 billion baht. METI offers a subsidy worth 450 million baht for the installation. Another project is a 104-MWh battery farm in Aizu in Fukushima prefecture. The project requires 1.2 billion baht in investment and is partly funded by 400 million baht from METI.
Business Wire
15 hours ago
- Business
- Business Wire
Avangrid, Tyba Complete Pilot to Advance Battery Energy Storage Systems
ORANGE, Conn.--(BUSINESS WIRE)--Avangrid, Inc., a leading energy company and member of the Iberdrola Group, today announced it has successfully completed a strategic pilot project with Tyba, an energy analytics and optimization platform, to enhance its battery energy storage system (BESS) modeling and identify potential locations for siting storage infrastructure across U.S. power markets. The initiative was designed to support Avangrid's evaluation of standalone and hybrid storage assets, improve revenue forecasting, and build internal expertise in the rapidly evolving U.S. storage landscape. 'As energy demand continues to surge across the country, battery storage will become increasingly critical for reliable energy supply,' said Avangrid CEO Jose Antonio Miranda. 'This pilot project with Tyba is just one example of Avangrid's approach to investing in innovative and forward-thinking solutions that enhance our own operations while helping the U.S. meet its energy needs.' 'It has been great to partner with Avangrid as they advance their efforts in the energy storage sector," said Tom Thunell, Tyba's Co-Founder and COO. "When honing an energy storage investment case, it is critical to understand how the battery will get its revenue. Tyba's platform simulates battery operations – informed by experience optimizing over 2GWh of operating storage – to demonstrate not only how much a project may return, but how it will operate to achieve those outcomes.' Throughout the pilot, Avangrid´s teams collaborated closely with Tyba through weekly working sessions and engagement. The project focused on leveraging Tyba's platform to simulate BESS operations across approximately 2,400 locations in seven U.S. regional grid operators and independent system operators. A key innovation in the pilot was the use of new pricing metrics to estimate battery energy storage systems revenue between the highest and lowest electricity prices each day. Tyba's platform enabled Avangrid analysts to screen for price volatility and identify the best locations for siting projects. This provided Avangrid with an enhanced understanding of where battery energy storage systems could provide the greatest return on investment. Tyba's software also allowed Avangrid to simulate BESS operations under different market conditions, using both past and projected electricity prices. It allowed Avangrid to fine-tune battery charging and discharging strategies in real-time, day-ahead, and ancillary services (back-up power) markets, and run hundreds of stimulations tailored to each regional grid operator. Avangrid is constantly evaluating opportunities to meet customer needs by incorporating energy storage into future projects as a key component of its comprehensive, cost-effective energy solutions. About Tyba: Tyba helps energy companies maximize the profitability of energy projects with a unified simulation and operations platform. Developers, owners, and operators use Tyba as their mission control center - to inform and automate energy storage operations, while maintaining the ability to make strategy adjustments with the click of a button. This approach helps their partners maximize project revenue and sustainably scale their portfolios. We believe that profitable renewable energy investments are essential to ensure the clean energy transition. With Tyba, profit maximization and grid decarbonization go hand-in-hand. About Avangrid: Avangrid, Inc. is a leading energy company in the United States working to meet the growing demand for energy for homes and businesses across the nation through service, innovation, and continued investments by expanding grid infrastructure and energy generation projects. Avangrid has offices in Connecticut, New York, Massachusetts, Maine, and Oregon, including operations in 23 states with approximately $48 billion in assets, and has two primary lines of business: networks and power. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.4 million customers in New York and New England. Through its power generation business, Avangrid owns and operates more than 75 energy generation facilities across the United States producing 10.5 GW of power for over 3.1 million customers. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital as one of the JUST 100 companies – a ranking of America's best corporate citizens in 2025 for the fifth consecutive year. The company was named among the World's Most Ethical Companies in 2025 for the seventh consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit
New Straits Times
a day ago
- Business
- New Straits Times
PublicInvest initiates HE Group at 'Neutral', sets target price at 37 Sen
KUALA LUMPUR: PublicInvest Research has initiated coverage on HE Group Bhd, an electrical engineering service provider, with a "Neutral" rating and a target price of 37 sen. The target price is based on 12 times earnings per share for financial year 2026 (FY26), reflecting a 25 per cent discount to industry peers and the Kuala Lumpur Construction Index, given HE Group's smaller market capitalisation and lack of diversification in earnings. Listed on the ACE Market of Bursa Malaysia since Jan 30 last year, the company is currently seeking a transfer to the Main Market, aiming to elevate its corporate profile. The company specialises in power distribution systems for end-user premises and boasts an established client base, particularly among multinational corporations in the semiconductor, medical device and electronics manufacturing sectors. Despite its solid track record, HE Group has yet to secure a significant foothold in the data centre (DC) space, an area it is actively targeting. Leveraging its expertise in substation development and industrial power systems, the company is positioning itself to tap into Malaysia's growing DC industry, which is closely intertwined with the semiconductor sector. "The growing DC industry in Malaysia is expected to drive demand for advanced semiconductor chips, creating a connection between these two critical sectors that are important to HE Group. "Renewable energy (RE) sector also presents an emerging opportunity, as supportive government policies accelerate RE adoption, particularly driving interest in battery energy storage systems. "HE Group is able to leverage its expertise in power distribution system for the RE industry as its strong fundamental knowledge in energy delivery closely aligns with the technical demand for BESS projects," PublicInvest added. The firm expects a three-year net profit compound annual growth rate of six per cent for the period FY24 to FY27, driven by stable contribution from the electrical equipment hook-up and retrofitting and power distribution system segments. It currently holds an outstanding orderbook of RM68.7 million and is eyeing RM50 million in replenishment for FY25, with a tender book valued at RM675 million. PublicInvest, however, flagged several key risks, including the highly fragmented mechanical and electrical industry, intensifying competition and macro challenges stemming from global trade tensions and cyclical downturns in end-user industries. "We like HE Group's proven execution in the semiconductor space and believe its skillsets are transferable to the DC segment. "However, without clear visibility on job wins in new verticals and amid external headwinds, we are cautious in the near term," the firm said.
Business Wire
2 days ago
- Business
- Business Wire
Lyten Secures More than $200 Million in Investment to Support its Ongoing Acquisition Strategy
SAN JOSE, Calif. & LUXEMBOURG--(BUSINESS WIRE)--Lyten, the supermaterial applications company and global leader in lithium-sulfur batteries, announced today it has secured more than $200 million in additional equity investment. This brings total investment to date in Lyten to more than $625 million. The additional investment is provided primarily from current investors. Lyten intends to accelerate its acquisition strategy and expansion plans in both the US and Europe with the additional capital. Additionally, Lyten announced today it has acquired the rights to Northvolt's energy storage products, Voltpack Mobile Systems (VMS), Voltrack, and future BESS products currently in development. This is Lyten's third Northvolt-related acquisition since November 2024. The VMS product is already in its third generation, with commercial installations throughout Europe. The core members of Northvolt's energy storage engineering team will be joining Lyten in Stockholm, Sweden, and VMS and future BESS products will be manufactured in Gdansk, Poland. Lyten previously announced the acquisition of two Northvolt assets. In November 2024, Lyten announced the acquisition of Northvolt's Cuberg battery manufacturing facility in California and earlier in July announced its plans to acquire Northvolt Dwa, Europe's largest Battery Energy Storage System (BESS) manufacturing facility, located in Gdansk, Poland. 'We are thrilled by the investment community's response to our expansion strategy,' stated Dan Cook, Lyten CEO and Co-Founder. 'Lyten is seeing immediate demand for its battery products in support of energy independence and national security initiatives in the US and Europe. Drones, defense, datacenters and BESS are all markets seeking battery solutions independent of Chinese supply chains. This capital is focused on rapid, capital-efficient expansion of manufacturing and onboarding world-leading talent in both the US and European markets.' Zia Huque, Lyten investor and General Partner at Prime Movers Lab, added, 'We continue to be impressed by Lyten's ability to grow through acquisitions. This is a testament to both Lyten's technology and its leadership team's experience in private equity, which is unique in the battery industry. The ability to efficiently scale manufacturing capacity is critical for Lyten right now to meet the rapidly growing demand for its products." Lyten intends to immediately restart BESS manufacturing in Gdansk, Poland, upon the close of the previously announced acquisition of Northvolt Dwa and targets product deliveries in the fourth quarter of 2025. Deliveries will initially target existing European customers and then quickly expand to a wide range of global markets, including AI datacenter, industrial, commercial, and grid applications. David Ku, Lyten Investor and former Microsoft Corporate Vice President of AI and CTO of the Artificial Intelligence + Research division, stated, "Success in AI is determined by the ability to deliver abundant, reliable power. Battery energy storage is a critical piece of AI data center infrastructure. Lyten's lithium-sulfur batteries are uniquely positioned to deliver the performance and supply chain independence necessary to meet AI's insatiable need for batteries." Lyten and Northvolt intend to close the transaction of the Northvolt Dwa facility in Poland and Northvolt System's BESS product portfolio in Sweden in the third quarter of 2025. About Lyten Lyten, founded in 2015, is a supermaterial applications company that has received more than $625 million in equity investment and secured LOIs for $650M in financing from the Export Import Bank of the US. Lyten has built a proprietary materials platform, called Lyten 3D Graphene, that it uses to build better performing, lower cost, and decarbonizing products, including its next generation lithium-sulfur battery. Lyten corporate headquarters is in San Jose, CA and European headquarters is in Luxembourg. The company lists more than 540 patents granted or pending and is currently manufacturing in San Jose, CA. In November 2024, Lyten announced the acquisition of Northvolt's battery manufacturing plant in San Leandro, California to scale production to meet the demand for American made batteries. In 2024, Lyten announced its integration into Chrysler's Halcyon Concept electric vehicle, plans to integrate lithium-sulfur into AEVEX Aerospace's unmanned aerial vehicles, and the selection of Lyten Lithium-Sulfur for demonstration on-orbit aboard the International Space Station (ISS), scheduled for launch later in 2025. Lyten was named Fast Company's #8 Most Innovative Energy Company, named to Silicon Valley Defense Journal's Top 100 National Security Companies from 2023 – 2025, and named one of America's Top Green Technology Companies by Time in 2024 and 2025.
Yahoo
2 days ago
- Business
- Yahoo
SUNOTEC and Sungrow to deploy 2.4GWh BESS across Europe
SUNOTEC has signed an agreement with Sungrow to deploy 2.4 gigawatt hours (GWh) of battery energy storage systems (BESS) across multiple solar power projects in Europe. The collaboration emphasises SUNOTEC's long-term strategy to expedite the incorporation of flexible and intelligent energy systems into its solar infrastructure portfolio. The 2.4GWh energy storage capacity will bolster grid stability, facilitate improved integration of renewable energy and enhance the reliability of solar parks developed by SUNOTEC across Bulgaria and broader Europe. Sungrow will supply its PowerTitan 2.0 BESS solution along with the string inverter SG350HX-20 and MVS for a hybrid project, comprising photovoltaic (PV) and BESS. Sungrow regional director for Central and Eastern Europe, Southeast Europe and CIS the Commonwealth of Independent States, which is the group of nations around the Caspian Sea and the Black Sea] Anastasios Gkinis stated: 'This collaboration with SUNOTEC is a cornerstone of our mission to accelerate clean energy deployment in Bulgaria and across Europe. 'Combining Sungrow's cutting-edge energy storage technology with SUNOTEC's execution excellence, we create a powerful force to redefine the energy landscape in Bulgaria and support the region's transition to a sustainable energy future.' SUNOTEC's forthcoming portfolio features several large-scale projects nationwide, designed to address energy storage requirements. Among the projects set for development, several will receive funding from Bulgaria's RESTORE national support programme. All will be flagship installations, showcasing some of the largest and most advanced energy storage systems in both the country and Europe to date. SUNOTEC founder and CEO Kaloyan Velichkov stated: 'The global energy transition depends not only on how much renewable power we produce, but on how intelligently we manage and store. 'This partnership with SUNGROW reflects our shared ambition to lead the next chapter of clean energy — by building resilient, storage-enabled infrastructure that brings stability, sustainability and scale to markets across Europe and beyond.' In July 2025, SUNOTEC finalised the acquisition of SIA DSE Lazas Solar's solar and energy storage project in Latvia from Danish Sun Energy. This acquisition will facilitate the development of a new PV solar power plant with a capacity of 400 megawatts peak (MWp) and an additional 600 megawatt hours (MWh) of BESS. "SUNOTEC and Sungrow to deploy 2.4GWh BESS across Europe" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
