Invinity Energy Systems (IES,) a global manufacturer of utility-grade energy storage, has announced the sale of a 1.5MWh energy storage system to STS Group for a solar storage project in Öskü, Hungary.
Further to the announcement of the reseller agreement with Ideona Group and STS, this project, supported by EU funding, will see seven VS3 flow batteries coupled alongside a 2 MWp solar array that will provide power for up to 6 hours. Invinity's battery will increase the use of renewable energy and provide grid-balancing services for the local grid by storing and dispatching excess solar generation.
Ideona will own and operate the entire project and STS will fully install and integrate the battery. The project was created as part of a government tender issued by the National Research, Development, and Innovation Office in Hungary.
Delivery of the Invinity batteries is expected to commence in H2 2023.
Matt Harper, Chief Commercial Officer at Invinity said: "This achievement reflects the effectiveness of Invinity's strategy of engaging with strong regional partners to build global demand for our products and emphasises the commercial momentum we expect will be the hallmark of Invinity's business through the first half of 2023.”
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The news today builds on Invinity’s announcement earlier this month, entering the Hungarian market through the initiation of a multi-party commercial partnership with STS and Ideona. Invinity has highlighted that Hungary was among the first countries globally to turn its 2050 emissions target into a legal commitment. The country is targeting a 90% clean energy mix by 2030 which includes an increase in renewable generation and battery storage.
The targets set by the Hungarian government will require additional electricity storage with the flexibility and duration that Invinity’s flow batteries can deliver. Their vanadium batteries can retain stored energy far more effectively than lithium batteries, along with being able to run continuously with no degradation for over 25 years.
The sale today looks likely to be followed by many more, as Invinity's new Hungarian partners have identified over 50 MWh of potential projects for Invinity batteries, so we can expect further announcements as the partnership progresses.
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