Doosan GridTech to build energy storage system in Australia
Closed by Doosan GridTech, the Korean company’s U.S. subsidiary, the construction deal is worth approximately 100 billion won ($91.4 million) — the largest deal for the company’s ESS business.
Acquired in 2016, Doosan GridTech specializes in energy storage. An ESS stores power from solar panels or wind turbines for consumption later. It generally uses a large number of batteries connected together.
Doosan’s client is Vena Energy, a privately-owned independent power producer operating in the Asia-Pacific region. The Singapore-based company’s portfolio consists of solar and wind farms and energy storage systems.
Under the contract, Doosan will build an energy storage system in Queensland, Australia, with a capacity of 150 megawatt hours. This is equivalent to supplying electricity to 23,000 households for a day, the company said.
The ESS Doosan GridTech will supply consists of the company’s “Intelligent Controller,” which connects to Queensland’s power network to save electricity when consumption is low and release it during peak hours.
“The latest deal proves Doosan Heavy Industries & Construction’s technology and competitive edge in ESS,” said Song Yong-jin, who heads the company’s strategy and innovation. “We hope this project can be the start of expanding ground in Australia where the ESS market is expected to grow rapidly.”
According to energy market data firm Bloomberg New Energy Finance, Australia’s ESS market is projected to grow from 1.9 gigawatt hours this year to 18.7 gigawatt hours in 2025 and 40 gigawatt hours in 2030.
BY SONG KYOUNG-SON [firstname.lastname@example.org]