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MoU on Energy Storage Business in the Asia-Pacific Region

Source: www.gulfoilandgas.com 5/29/2018, Location: Asia

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JERA Co., Inc. (“JERA”), Fluence Energy LLC (“FLUENCE”) and LYON Group (“LYON”) have signed a Memorandum of Understanding (“MOU”) creating a framework for strategic development among the parties of the energy storage business for the Asia-Pacific region.

The parties have a common understanding that a low emission energy system will be at the heart of the sustainable future. To realize such future, the parties will work together utilizing each party’s strength to develop commercial models and potential applications to utilize utility-scale battery storage solutions.

JERA believes that energy storage systems help to achieve a sustainable energy system and expand JERA’s renewable power business.

JERA and LYON have been jointly developing hybrid solar and energy storage projects in Australia together with FLUENCE as energy storage system provider. This MOU expands the collaboration among parties into the Asia-Pacific region.

Going forward, JERA will continue to enhance its corporate value by developing a balanced power generation portfolio that includes renewable energy. Furthermore, JERA will explore further application of energy storage system including the study on the effect of installing it into thermal power plants in Japan.

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