Malta Inc. and Schmid Pekintas Sign Agreement for Several Hybrid Projects

Source: www.gulfoilandgas.com 8/6/2024, Location: Europe

Malta Inc. (“Malta”), a pioneering company in electro-thermal long-duration energy storage solutions, and Schmid Pekintas Gunes Enerji Sistemleri San. ve. Tic. A.S. (“Schmid Pekintas”), a leading solar energy company with a strong presence in the solar panel manufacturing and solar project development sectors, are pleased to announce the signing of a Memorandum of Understanding (MoU) aimed at establishing a cooperative framework to hybridize several Schmid Pekintas’s solar energy projects with Malta’s advanced long duration energy storage.

The MoU will focus on assessing the co-development and construction of Malta’s long duration energy storage in colocation with Schmid Pekintas’s 540MW pre-licensed solar energy projects in Türkiye, as well as in the U.S. and Europe. This initiative aims to create a scalable, replicable, and cost efficient model for collocated solar and energy storage projects, ensuring a stable and reliable 24/7 green energy supply while providing essential grid reliability services such as synchronous inertia.

Concurrently, Schmid Pekintas and Malta will evaluate deploying energy storage solutions into 200-500 MW of existing and new solar projects across various South European countries and U.S. states, including California, New Mexico, and Texas, targeting a combined storage deployment of up to 1GW over the next five years.

Phil Delleville, COO/Managing Director of Malta, commented, “Partnering with Schmid Pekintas allows us to leverage our energy storage technology to enhance solar projects across multiple regions. Together, we aim to provide a dependable and sustainable energy infrastructure to expedite the energy transition.”

Özhan Olcay, CEO and President of Schmid Pekintas, added, “This collaboration marks a significant step toward transforming the renewable energy landscape in Türkiye and beyond. By combining Schmid Pekintas's expertise in solar module manufacturing and project development along with Malta's innovative storage solutions, reliable and sustainable energy solutions will be delivered on a global scale. Both companies are committed to driving innovation and supporting the transition to a greener future.”


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