Metlen and PPC join forces to build energy storage in three countries
Metlen Energy & Metals PLC on Thursday said it has signed a joint venture with PPC Group to build battery energy storage systems, with a nominal capacity of up to 1,500 megawatts, in Romania, Bulgaria, and Italy.
Metlen said it expects two-thirds of the capacity covered by the equal-stake partnership to be implemented within a year by a purposely-established company.
The Athens-based energy and metallurgy company said it will provide know-how and construction of the projects, which will deploy two-hour liquid-cooled battery systems to store surplus energy generated by solar and wind farms and reinject it into the grid in periods with no sun or wind.
PPC Group, as Greece’s largest energy distribution company with presence in all countries covered by the partnership, will oversee the projects’ developments and energy management. For the utility company, the joint venture covers a significant portion of its energy storage targets over the next three years.
Nikos Papapetrou, chief executive director of Metlen’s renewables, storage, and energy transition platform, said: ‘By combining Metlen’s international experience and expertise in the development, construction and operation of energy projects with PPC’s strong presence and footprint in regional markets, we demonstrate in practice that energy storage is a catalyst for maximizing the value of renewable energy sources and ensuring the reliability of power systems.’
Metlen shares were down 1.8% to €35.45 each on Thursday morning in London.
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