Black & Veatch and Dynapower Co. have signed an agreement to create a strategic alliance focused on developing and deploying grid-scale energy storage systems.
Through the alliance, the companies say they will work together to address transmission- and distribution-level energy storage projects, both in North America and internationally. Dynapower's inverter technology will be combined with Black & Veatch's engineering and construction know-how, enabling clients to implement customized solutions that are engineered to support a range of storage technologies, the partners add.
According to Black & Veatch, the energy storage market in North America is slated to grow due to several factors, including grid stability, state-level storage mandates and an increased level of renewable energy sources.
‘There continues to be an increasing amount of renewable energy being deployed on the grid,’ says Dean Oskvig, President and CEO of Black & Veatch's energy business. ‘These resources often require the support of energy storage to reduce supply variability and improve grid stability.’
‘As today's technology improves in cost and performance and establishes its place as a mainstream grid solution, energy storage will play a key role in ensuring that electricity grids become cleaner, more reliable, responsive and cost-effective,’ says Adam Knudsen, Dynapower's president and COO.
For further information on how energy storage can be integrated with renewable energy to create more resilient electricity grids, visit the Hybrid Energy Innovations event website here.