RE: BE Your Time Has Truly Come16 May 2019 10:57
Following on from that in the BE Q4 update it goes on to say....
Large energy storage opportunities in Africa
While most attention by energy storage researchers, suppliers and funders has centred on markets in Australia, East Asia, Europe and North America, since its inception Bushveld Energy has maintained that Africa offers potential to meet or exceed the market opportunities of those geographies in the near term. Our expectation of 1,000MWh of annual opportunities by 2020 that befit the technical advantages of VRFB technology, including cost effectiveness in long-duration energy storage requirements, ability to cycle without degradation for over 20 years, and the advantage of having more local content, especially for South African customers. Two specific factors supporting this are:
· The World Bank Group ("WBG") committed US$1 billion for Battery Storage to accelerate investments in battery storage for energy systems in low and middle-income countries. This is expected to mobilise an additional US$4 billion in concessional climate financing and public and private investments. The program is expected to help these countries ramp up their use of renewables - particularly wind and solar power - improve energy security, increase grid stability and expand access to electricity. The programme aims to finance 17.5GWh of battery storage by 2025;
· South Africa's draft 2018 Integrated Resource Plan (the country's electricity plan) has massive opportunities for battery energy storage. This includes 15,000MW of new renewable electricity generation by 2040; 9,000MW in peaking generation capacity with provision for alternative technologies (such as battery energy storage) to participate; and a new allocation of an additional 200MW per annum for small scale embedded generation that can include storage. In addition, the South African Renewable Energy Independent Power Producer ("REIPP") Procurement Programme has been restarted to continue to add renewable energy to the grid, creating opportunities for long duration battery storage;
Bushveld Energy is well-positioned in terms of capabilities, market knowledge and geography to take advantage of these massive opportunities in the region. For example, nearly 40 per cent of WBG funding historically has gone to sub-Saharan Africa, suggesting that a similar amount of the battery energy storage programme may be deployed there. The South African state-owned electricity utility, Eskom is preparing to roll-out 1,400MWh of battery energy this year and complete it by 2022, in an effort to improve the performance of the power system and integrate more renewable energy. More recently, the decreasing performance of the South African power system and recent return of "load shedding" or power rationing is creating significant demand from electricity consumers for self-supply of electricity, including large amounts of storage.
Love it when a plan comes together...
GLA and ignore the haters.
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