The Cameron Storage battery project, set to start operations in the coming weeks, will connect to the Texas power grid and is expected to help provide reliable energy amid fluctuating supply and demand. (Source: Shutterstock)
Apex Clean Energy has partnered with Ingka Investments, the investment arm of IKEA retailer Ingka Group, on a 16.4-megawatt (MW) storage project that will connect to the Texas power grid, the renewable energy company said Sept. 6.
Called Cameron Storage, the standalone lithium-ion battery project will be co-located with the Ingka Investments-owned, Apex-managed 165-MW Cameron wind farm in Cameron County, Texas.
“For more than a decade, IKEA has charted the course for the corporate sector in investing in clean energy solutions, and today, Cameron Storage builds on that record of leadership,” Apex Clean Energy CEO Ken Young said in a news release. “Utility-scale energy storage unlocks the full potential of clean power to decarbonize our economy while providing increased reliability and certainty for our electric grid.”
The battery, set to start operations in the coming weeks, is expected to help provide reliable energy amid fluctuating supply and demand.
The Electric Reliability Council of Texas (ERCOT), which runs most of the Texas power grid, has faced tight grid conditions this summer as high temperatures drive energy demand to record levels. The conditions prompted ERCOT to issue public requests to conserve electricity use amid low operating reserves on several occasions.
The energy storage project marks the latest in several renewable energy projects jointly developed by Ingka and Apex. It is the duo’s first energy storage project. Worley is providing EPC services for the project, while Powin is serving as the equipment vendor, Apex said in the release.
The energy storage project is part of a €6.5 billion (US$7billion) initiative to boost renewable energy consumption to 100% across IKEA’s value chain, the release stated. Ingka Investments has invested and committed more than €3.5 billion (US$4 billion) into renewable energy projects.
“This is an important step in our journey towards becoming climate positive,” said Peter van der Poel, managing director at Ingka Investments. “Going forward, we aim to invest in a mix of wind, solar and energy storage. Investing in all three technologies will help to provide renewable energy during more hours of the year and optimize the use of our grid connections.”
Recommended Reading
DT Midstream to Buy 3 Pipe Networks from ONEOK in $1.2B Deal
2024-11-19 - ONEOK plans to use the proceeds from the sale of the Guardian Pipeline, Midwestern Gas Transmission and Viking Gas Transmission to focus on other operational priorities.
Battalion Oil Walks Away from Fury Resources Buyout
2024-12-20 - The Battalion Oil-Fury Resources merger had been in discussions for more than a year, but Battalion said Fury failed to meet financial deadlines to continue the talks.
Vitesse Energy to Buy Bakken Pureplay Lucero in $220MM Deal
2024-12-16 - Vitesse Energy will acquire Lucero Energy’s Bakken/Three Forks assets, including 25 net remaining locations, 1.9 net DUCs and 20 wells that are candidates for recompletions.
STEP Energy Services Drops Go-Private Deal as Shareholders Balk
2024-12-20 - STEP Energy Services has terminated its agreement with ARC Energy Fund 8 to go private in an all-cash transaction for CA$5 per share.
CNX’s $505MM Bolt-On Adds Marcellus, Deep Utica in Pennsylvania
2024-12-05 - CNX Resources CEO Nick Deluliis said the deal to buy Apex Energy underscores CNX’s confidence in the stacked pay development opportunities unlocked in the deep Utica.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.