Dutch energy storage developer Corre Energy and its compatriot SemperPower have formed a joint venture (JV) to develop a 320-MW/640-MWh battery energy storage system (BESS) project in their home country.
The duo will aim to take a final investment decision on the project late next year, Corre Energy said on Friday. The overall investment for the project’s construction and installation is estimated at EUR 300 million (USD 324.9m).
Under the plan, the two companies will make an initial EUR-7-million investment in the joint entity and Corre Energy’s share will be represented by capital already invested in the project to date.
Set to become one of Europe’s largest batteries, the proposed facility will be installed at Corre Energy’s Zuidwending site in the northeastern Netherlands, about 20 km from the nearest coast. The system will provide two hours of discharge capacity and help balance the grid once commissioned in 2026.
The battery facility will use a joint grid-connection infrastructure with a compressed air energy storage (CAES) project being developed by Corre Energy.
SemperPower, owned by renewable energy investment platform Return Energy, will provide battery infrastructure sourcing, development and operational expertise for the project. The company will also take care of securing financing and a power off-take contract, possibly with a fixed 10-12 year term.
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