Highview Power recently announced the formation of a joint-venture with TSK, a global leading EPC company for the expansion of its giga-scale cryogenic energy storage systems across Spain, the Middle East and South Africa. The joint-venture is expected to enable the immediate shift from thermal and nuclear power to renewables and is expected to result in ~1 billion EUR over the next three years.
The new JV allows the company to co-develop giga-hour scale, long-duration energy storage systems using Highview Power’s proprietary cryogenic energy storage solution, the only long-duration energy storage solution available today that offers multiple gigawatt hours of storage representing weeks’ worth of storage, not just hours or days. At giga-scale, cryogenic energy storage resources are equivalent in performance to – and could replace – a fossil fuel power station.
REM talked to Highview Power CEO, Javier Cavada, to find out more.
Can you tell me about the two companies that are involved in this project? Highview Power and TSK
Absolutely. Highview Power is a 14-year old company, technology company, headquartered in London. We have expanded now to the US, Middle East and Spain, soon coming to Eastern Europe and South America. Energy storage technology, cryogenic energy storage. The CRYOBattery is our product, our solution is long-duration large-size, always looking for applications to move solar arrays to provide full base-load for the whole day, so four hours, eight hours, ten hours, twenty hours, that’s our sweet spot and wind the same of course. Owning the patent of the technology allows us to have full commercialisation. We have two plants in the UK, a small one and a commercial one on the national grid here in Manchester, and now developing projects in the UK and continental Europe and the US, and next upcoming is the Middle East and we have started to work to penetrate to bring these large long-duration energy storage projects to make sure renewables provide the baseload. That’s Highview Power.
TSK, or TSK Group, it is a company with more than 50 years of history, headquartered in Gijón Spain, in the North of Spain, with offices in in Madrid, and also in Germany. it’s an EPC company, so a construction company with a foundation in electrical equipment, so mainly balance of plants, etc. So it’s becoming a global EPC, it moved heavily into oil and gas and now is doing likewise for renewables and waste treatment plants. it’s a 1.2 billion revenue company, with more than a thousand employees mostly in Spain but I would say 40 percent of the projects are in the Middle East and 40 percent of the projects are in Latin America. They have completed projects in more than 50 countries and more than 30 GW and this alliance is about bringing Highview technology with EPC capabilities to certain regions with a champion company like TSK to deliver projects with quality performance and timing, enabling this technology to expand across Middle East and Latin America, also South Africa with , and of course Spain with TSK’s market now and enable the transition to more renewables.
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