(Montreal) After a breakthrough in France, a subsidiary of Hydro-Québec specializing in battery energy storage has just signed a first contract in the United States.
Energy Storage Evlo has been awarded a 20-year contract for a battery-powered wind energy storage project in Troy, Vermont. The 3 MW/12 MWh project is expected to come into service by the end of 2023. This represents the daily consumption of 600 homes.
This is an important milestone in Evlo’s business strategy to be one of the top three storage companies by 2030, Evlo Vice President of Business Development and Sales said in an interview. , Martin Rhault. “The United States, for us, is 85% of our addressable market. »
The project can serve as a showcase, because Americans value the fact that a supplier has already won contracts in the United States, adds Mr. Rheault. As in Quebec, energy demand in the United States should follow an upward trend in a context of energy transition.
Battery energy storage is one of the ways to manage the increase in consumption. It makes it possible to store energy during periods of high production for consumption during peak periods.
Storage needs could reach “tens of gigawatt hours” by 2030, Rheault points out. By way of illustration, this could represent a little less than Hydro-Québec’s total production, which is around 40 gigawatt hours.
BloombergNef estimates that global storage capacity could reach 441 gigawatt hours in 2030. This is 15 times global capacity in 2021. The firm estimates that the United States and China will be the most important markets.
Evlo does not reveal the revenues from its first American contract, but the vice-president mentions revenues in the range of between 3 millionUS and 6 millionUS.
Last September, the Hydro-Québec subsidiary obtained a first international contract, in France, in collaboration with the Quebec energy producer Innergex. The company also won contracts in Ontario and British Columbia.
Discussions are going well for obtaining other contracts, assures Mr. Rheault. “We have six contracts to announce soon, the majority of which are in the United States. The Troy project is the first of several projects in the United States. »