Used to record, the operator of renewables, Neoen, just add one to its active. It was announced on Tuesday 9 June, the construction in Finland, the largest battery storage in the nordic countries, with a capacity of 30 megawatts. It will be used to compensate for the frequency variations of the network and to facilitate the integration of renewables.
→ TO READ. With Neoen, the wind and the sun enter in the stock Exchange
With the american Tesla, Neoen has already been installed in Australia, the largest unit of storage by lithium-ion batteries in the world (100 MW) to secure the electrical system. At Cestas (Gironde), he has developed in 2017, the largest solar farm in France (300 MW) and was inaugurated last year, in the Landes, the largest central storage of electricity (6 MW) is directly connected to the metropolitan network.
The value of Neoen has doubled in the Stock market in 18 months
Created in 2009 by the businessman Jacques Veyrat, Neoen is one of the most dynamic in the market. Investors are mistaken, not. The company, which presents itself as the first independent power producer of renewable energy in France, was introduced on the stock Exchange in October 2018 and the action has already doubled from 17 to 34 €.
It displays an installed capacity of 3 GW, in solar and in wind, and is on target to achieve 5 GW by the end of 2021.
Today, Neoen confirms its position on a market niche but promising : smooth out the intermittency of renewables with the rapid injection (in seconds) of electricity on the network, to ensure the balance between supply and demand and the maintenance of the frequency of 50 hertz. Last summer, Britain has been at the edge of the black-out, with the influx of a lot of power from offshore wind farms. Germany has also had a few alerts during the confinement.
A services activity and production
” This market will grow as we develop green energy because the electrical systems are in need of stability “, said Xavier Barbaro, CEO of Neoen, recalling that interconnectors cannot solve the problems alone.
It is an activity of vital service, which may be remunerated by the manager of the network. It allows to avoid using of the thermal power plants, as in Australia.
The storage can also be used for trading activities (buying electricity when it is not expensive to sell when prices are high), or coupled to production activities such as going to do Neoen with its wind farm, currently under construction in el Salvador.
The price of batteries is now on the decline, due in particular to the development of electric vehicles. Yields are also improving, with performance guarantees of 15 years instead of 10 years, there are still a few years.
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The system developed by Neoen has also the advantage of being very modular. ” It assembles thousands of small rechargeable batteries in racks, which are themselves housed in containers. we can easily add more power according to needs, as in Australia “says Xavier Barbaro.
According to him, the battery storage will much develop. “ Some say the opposite, explaining that it must wait for a break in technology or lower prices. This is false. Have 5 to 10 % of storage capacity compared to what is produced from renewables already allows to smooth the intermittence “, “he says.
Neoen has the means of its ambitions. At the end of may, the company launched the first convertible bond issue in Europe green for an amount of € 170 million.