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With The Aim Of Balancing And Expanding The Country’s Energy Grid, China Has Begun Construction Of The First 100 MWh Gravity-Based Renewable Energy System
The first 100 MWh EVx system has been under construction since March 2022, aiming to support grid resilience and the delivery of renewable energy to the Chinese national grid. The leader in sustainable energy storage solutions at grid scale, Energy Vault Holdings, NRGV, NRGV WS) (“Energy Vault”), announced last Friday (6) that it will carry out the first installation of the EVx™ in China. Check out the official statement.
EVx System Aims To Expand And Balance China’s National Energy Grid
The 100 MWh gravity-based EVx system is being built adjacent to a wind farm and national grid site in Rudong, Jiangsu province, located outside Shanghai, to enhance and balance China’s national energy grid by supplying renewable energy to State Grid Corporation of China (SGCC).
The SGCC is the largest utility company in the world and provides power to over 1.1 billion Chinese citizens in 26 provinces, autonomous regions, and municipalities, covering 88% of China’s national territory. The start of construction of the EVx follows the previously announced license and royalty agreement for renewable energy storage in partnership with Atlas Renewable LLC (“Atlas Renewable”), based in Houston, Texas, and its majority investor China Tianying, an international environmental management and waste remediation corporation involved in smart urban environmental services, recycling, resource recovery, and zero-carbon clean energy technologies.
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The project is the first utility-scale gravity-based storage deployment between a company from China and the U.S. and was approved by the municipal and provincial government, with support from the central government agencies of the People’s Republic of China.
The deployment of the EVx received unprecedented expedited preliminary approval on March 12 during a conference of intergovernmental agencies, including the National Development and Reform Commission, Ministry of Information and Technology Industry, Ministry of Ecology and Environment, Chinese Academy of Sciences, Chinese Academy of Engineering, National Energy Administration, National Power Grid, and National Electric Power Planning Institute, as well as some of China’s leading scientists, academics, and engineers, to accelerate and advance its state-mandated environmental policy, commonly referred to as “30-60.” This policy has a declared goal of Peaking Carbon Emissions by 2030 and Achieving Carbon Neutrality by 2060.
Energy Vault And Atlas Renewable Sign US$ 50 Million Contract
On April 26, the Three Gorges Construction Group, Energy Investment Professional Committee of the China Investment Association, Atlas Renewable China Construction New Energy Shanghai (7th Unit), and China Tianying held an online seminar to discuss the deployment of gravity energy storage technology in China.
The parties exchanged communications regarding gravity energy storage technology and the deployment of Energy Vault’s EVx system in Rudong, Jiangsu province. Representatives from all parties expressed their enthusiastic support for the project and total confidence in the future of gravity energy storage technology in China.
Both the Three Gorges Construction Engineering Group and China Construction New Energy Shanghai (7th Unit), two major global energy and construction companies, pledged to participate in in-depth cooperation with Atlas Renewable and China Tianying on Energy Vault’s gravity energy storage projects and promote the project’s implementation in China.
Energy Vault and Atlas Renewable signed a US$ 50 million licensing agreement for the use of Energy Vault’s proprietary gravity-based energy storage technology and its agnostic energy management software suite and asset optimization in the Chinese energy market.
The agreement also includes terms governing volume-based deployment royalties and covers maintenance, monitoring, and beneficial reuse of residual materials in Energy Vault’s composite blocks. The payment of the US$ 50 million licensing fee is scheduled to be completed in 2022.
Energy Vault Speaks Out On The Project
The partnership of Energy Vault with Atlas Renewable and China Tianying, and the deployment of the EVx, are directly aligned with the U.S.-China Joint Glasgow Declaration On Enhancing Climate Action In The 2020s, published at COP26 in November 2021.
The Declaration states that the U.S. and China intend to expand their combined efforts to accelerate the transition to a net zero global economy through cooperation on policies to encourage decarbonization and electrification of end-use sectors; key areas related to the circular economy, such as green design and renewable resource utilization; transmission policies that encourage efficient balancing of electricity supply and demand across broad geographies; and distributed generation policies that encourage the integration of solar energy, storage, and other clean energy solutions closer to electricity users, among other initiatives.
“China Is Rapidly Expanding Its Use Of Renewable Energy, Along With Annual Energy Storage Mandates, To Meet Its Decarbonization Goals. We Are Very Pleased That The EVx And Our Energy Management Software Platform Have Already Received Local Regulatory Approval And Are Now Being Deployed As A Critical Enabling Technology To Support China’s Energy Transition And Carbon Neutrality Goals. In 2021, China Produced More Metric Tons Of Greenhouse Gases Than The Four Largest Countries Combined, And As Currently Planned, Will Continue To Increase Emissions Until 2030. We Must Act Quickly To Reverse This Trend, And With Local Partners China Tianying And Atlas Renewable, We Will Do Just That,” Said The CEO Of The Energy Vault Project.
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