DNV GL will provide technical and financial due diligence on two energy storage projects from Renewable Energy Systems Americas (RES). 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.”
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