European Energy launches EE GigaStorage

European Energy has launched a new large scale energy storage system. The system reduces the costs of integrating wind and solar power in the electricity grid, and European Energy expects it to play a major role in the global fight against climate change.

Knud Erik Andersen, CEO, European Energy says: “EE GigaStorage is a game changer in our fight against climate change. There are no limits to the size of the facility, and it will be a competitive solution in nearly all coastal district heated or cooled cities. We expect a considerable demand for this solution, as it is already price competitive, and will become even more so as the price of wind and solar power decreases”

With respect to cost reductions power from wind and solar has beaten expectations every year throughout the last decade. However, as a developer of wind and solar farms European Energy is all too familiar with the remaining obstacle of integrating even more renewable power: storage capacity.

European Energy has therefore taken up the task of inventing a new commercially competitive storage solution. The solution European Energy came up with is indeed competitive as it costs only a small fraction of batteries and reduces the societal costs of increasing the share of renewable power. It is called "EE GigaStorage".

EE GigaStorage stores energy from wind turbines and solar PV boosted by heat pumps as well as surplus heat from waste incineration and the industry. The energy is stored as either hot or cold water in largescale nearshore water basins and is released to the district heating or cooling system weeks or even months later.

The technology enables European Energy to provide citizens with 100 percent renewable district heating or cooling at a price which is fully competitive with traditional heating plants. This is possible since EE GigaStorage stores wind and solar power when electricity prices and demand is low, and feed in to the power grid when demand is high. And although there will inevitably be a heat loss depending on site specific conditions, it is always kept below 20 percent during a seasonal cycle.

As a gigascale adjustable power demand, EE GigaStorage balances power-grids with a high share of renewable electricity. This reduces the number of hours when demand and supply of renewable electricity don’t match and enables the integration of more renewable power into the grid at a lower cost.

It is based solely on proven technologies: wind turbines, solar panels, heat pumps and district heating, and consequently European Energy is ready to construct the test site and currently cooperating with three Danish municipalities on constructing the first site.

Click here for a video presentation of European Energy GigaStorage: LINK