WESTLAKE VILLAGE, Calif. - Energy Vault Holdings, Inc. (NYSE: NRGV), a company specializing in grid-scale energy storage solutions, has announced the successful interconnection of its Rudong 25 MW/100 MWh EVx gravity energy storage system (GESS) to the Chinese State Grid in December 2023. This marks a significant step in the company's expansion in China, the world's largest energy storage market.
The Rudong system's full commissioning and inverse power operations are now powered by the State Grid, following the completion of construction and grid interconnection processes that began in September 2023. This development positions the Rudong EVx as the first commercial, utility-scale non-pumped hydro gravity energy storage system in the world, pending final provincial and state approvals for commercial operation.
In addition to the Rudong project, Energy Vault has commenced construction on three more EVx GESS deployments in China. These projects include a 17 MW/68 MWh system in Zhangye City, a 50 MW/200 MWh system in Ziuquan City, Jinta County, and a 25 MW/100 MWh system in Huailai Cunrui Town, Zhangjiakou County, Hebei Province. All are being built adjacent to renewable energy generation sites and national grid interconnection points.
The National Energy Administration (NEA) of China has formally recognized the Rudong and Zhangye City EVx systems as new energy storage pilot demonstration projects, a distinction that provides increased management oversight and support for construction and safety measures. This aligns with China's energy policy, which mandates renewable energy plants to integrate storage capacity equivalent to 20% of their nameplate generation capacity.
Energy Vault's technology is designed to support the balancing of China's national energy grid by storing and delivering renewable energy. The company's partnership with China Tianying (CNTY) and Atlas (NYSE:ATCO) Renewable has resulted in nine EVx GESS deployments underway in China, totaling 3.7 GWh. These projects are expected to generate future project revenue royalties for Energy Vault as the systems are built and commissioned.
Robert Piconi, Chairman and CEO of Energy Vault, expressed satisfaction with the market adoption of the company's gravity energy storage technology in China, and anticipates sharing further performance and project development updates in the coming weeks and months.
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