Sydney, Australia, August 3rd, 2023 /PRNewswire/--Sungrow, the global leading inverter and energy storage system solution supplier, announced a partnership with the Clean Energy Transfer Fund as key tolling partner for Hive Battery Developments. This collaboration aims to bring to life HIVE, a revolutionary energy storage initiative, using Sungrow's liquid cooling energy storage system (ESS) PowerTitan to energise the whole project. Empowered by cutting-edge solutions for energy storage deployment and utilisation, participating in frequency control ancillary services (FCAS) and arbitrage market, and further enlarging Australia’s green power blueprint.
As Australia sets its sights on achieving net zero emissions and phasing out coal-fired power generation by 2050, the nation faces the challenge of ageing conventional power plants. To meet the growing demand, Australia aims to build over 50 clean power plants, highlighting the key role of energy storage in ensuring stable and efficient utilisation of renewable energy.
HIVE: A Visionary Battery Energy Storage Project
HIVE is an innovative, scalable, and distributed battery energy storage project that can be easily adjusted to meet diverse requirements. The first HIVE battery will span 10 sites in New South Wales, combining seamlessly to deliver up to 49.9MW/200MWh of distributed energy storage. Each site will be equipped with an average connection and coordination scale of nearly 5MW, all controlled by cutting-edge virtual power plant technology.
Innovative PowerTitan: The Future of Energy Storage
At the heart of each HIVE lies Sungrow's cutting-edge energy storage solution, PowerTitan. Employing liquid cooling technology, PowerTitan incorporates industry-leading innovations, offering cost-effectiveness, seamless installation, unmatched operational safety, enhanced efficiency, and extended battery cycle life. Additionally, the system features smart monitoring capabilities, setting a new standard for energy storage technology worldwide. The ease of installation means that a HIVE battery can become operational within six months, a significant reduction compared to traditional grid-scale batteries that could take over two years to deploy. Impressively, PowerTitan has already secured global contracts exceeding 9GWh.
Paving the Way to Grid Integration: Sungrow's Commitment to Quality
Recognising Australia's stringent Registration of Generator Performance Standards (GPS), Sungrow has assembled a dedicated GPS grid-connection model team. The team's expertise ensures seamless grid integration, offering customers unparalleled grid-connection support services, underpinned by cutting-edge technology and rapid response times.
Rob Ashdown, Co-Founder and Managing Director of Clean Energy Transfer Fund, said Sungrow has proven themselves as a very strong partner in the development of HIVE.
“Sungrow has stepped up and supported Hive Battery Developments at each development hurdle, and we look forward to building a strong partnership with in the future."
Joe Zhou, Country Manager of Sungrow Australia, stated, “Thanks to CETF for choosing Sungrow to participate in HIVE. Sungrow has been deeply engaged in the Australian market for a long time with innovative products and solutions, reaching an international advanced level”. Mr Zhou reaffirmed Sungrow's dedication to ensuring the seamless delivery of the HIVE battery system, generating optimal yields for clients and expediting Australia's transition towards sustainable energy.
About Clean Energy Transfer Fund (CETF)
Clean Energy Transfer Fund is a leading energy trading fund based in Australia, committed to delivering attractive returns. With over A$100 million in assets under management, the fund provides traditional and bankable Power Purchase Agreements (PPAs) to medium and large clean energy developers across Australia's National Electricity Market. CETF's multi-market risk management approach, leveraging traditional and non-traditional financial markets, allows the fund to realise uncorrelated returns.
About Sungrow
Sungrow Power Supply Co., Ltd. is the world's most trusted and bankable inverter brand, with an extensive installation base exceeding 340 GW worldwide as of December 2022. Founded in 1997 by Professor Cao Renxian, Sungrow leads the solar inverter industry in research and development, boasting the largest dedicated R&D team. The company's diverse product portfolio includes PV inverter solutions, energy storage systems, floating PV plant solutions, EV charging solutions, NEV driving solutions, and renewable hydrogen production systems. With over 26 years of expertise in the PV space, Sungrow's products power more than 150 countries worldwide. For more information about Sungrow, please visit www.sungrowpower.com.