RES’ Two Largest Energy Storage Projects in North America to Get DNV GL Technical and Financial Review
Global energy expert DNV GL to provide technical and financial due diligence on RES Americas’ two 19.8 megawatt energy storage systems --- Two energy storage systems near Chicago intended to provide frequency regulation to the grid --- Recent DNV GL Beyond Integration survey ranks energy storage in top three most important factors for integrating higher share of renewables, including solar --- DNV GL will feature RES announcement as well as its solar and storage services at Intersolar North America July 14-16 San Francisco – Booth # 7444
BURLINGTON, Mass. (July 13, 2015) - DNV GL, the world's largest resource of independent energy experts and certification body, will provide technical and financial due diligence on two energy storage projects from Renewable Energy Systems Americas Inc. (RES), one of the top renewable energy companies in North America. These two projects together will comprise one of the largest energy storage deployments in North America. DNV GL anticipates this battery storage technology, when combined with proven PV solar technology, can provide significant benefits to power grids.
The projects, intended to provide energy storage over the course of a decade, will provide frequency regulation service to support grid efficiency. DNV GL will thoroughly vet the technology and financial aspects of the projects, providing services to potential project lenders that include battery technology review, civil and electrical design review, project schedule and capital cost review, commissioning document review, environmental permitting compliance review, site inspection, and performance verification.
"As the value of energy storage for grid reliability gains recognition nationwide, projects like the two being developed by RES are playing a growing role by better leveraging existing utility assets," said DNV GL Due Diligence Project Manager Thomas McNulty. "The ability of energy storage to support grid efficiency through frequency regulation is another important benefit because storage is capable of ramping up and down generation assets within milliseconds. Our work will evaluate the soundness of all aspects of the projects and verify performance against expectations."
RES is constructing the two 19.8 megawatt (MW) energy storage systems, each able to store 7.8 megawatt-hours (MWh) of energy. RES anticipates completing construction on the Jake Energy Storage Center in Joliet, IL, and the Elwood Energy Storage Center in West Chicago, IL, in the third quarter of 2015.
"DNV GL is a globally recognized authority on renewable energy projects," said Zach Love, Vice President at RES, "and we value the objective, independent analysis they bring to both the engineering and financial aspects of these important energy storage projects."
Learn more about DNV GL's energy storage expertise at Intersolar North America in booth #7444 July 14-16 in San Francisco, or visit www.dnvgl.com/energystorage.