Expanding Presence in ESS Market in Ireland
Hanwha Energy will promote an energy storage system (ESS) project in Ireland, which is designed for a stable supply of renewable energy.
The company announced on Sept. 7 that an investor welcome event for the ESS project was held in Offaly County, Ireland on Sept. 6 (local time) with the attendance of 50 people, including Irish Prime Minister Michael Martin and Hanwha Energy CEO Jeong In-seop.
Hanwha Energy will set up a 160 MWh ESS and link it to a power system stabilization facility (synchronous generator) to provide a grid stabilization service to EirGrid of Ireland. The project cost is estimated at 170 billion won.
The company plans to sign a shareholder contract with Javah Energy, a local company, in September to establish a special purpose corporation. It will break ground for the project in October to start commercial operation in October 2024.
Hanwha Energy is currently operating two 60 MWh ESSs in Ireland, which were built in 2019 with project financing (PF) support from the Export-Import Bank of Korea. If the new project is put on track, a total of three ESSs will run locally. Hanwha Energy expects to further enhance its position in the Irish system stabilization service market.