March 29, 2018 Read More →

Europe’s Prolific Wind Industry Is Expanding Into Solar and Electricity Storage

S&P Global Market Intelligence ($):

Europe’s wind powerhouses are turning to solar and storage technologies in an effort to diversify their revenue streams and capitalize on changing energy markets.

Project developers such as Ørsted A/S and Vattenfall AB, along with major wind turbine manufacturers Vestas Wind Systems A/S and Siemens Gamesa Renewable Energy, are exploring business opportunities in combining wind farms with solar and energy storage, with some already making investments.

Gamesa CEO Markus Tacke said that while a commercial energy storage expansion was not imminent, the Spain-based wind turbine maker wants to help lead the industry in incorporating storage in the near future. The company is also working on an off-grid hybrid solution, comprising wind, solar and batteries, in Spain.

“We are working together with customers finding low-cost, large scale storage solutions which could be the trigger, a game changer and an enabler for our industry to move … forward,” he said.

Competitor Vestas announced in December 2017 that it will spend €10 million on a partnership with Swedish battery-maker Northvolt AB to develop battery storage systems for Vestas’ wind plants.

The recent moves signal a growing sentiment in the wind industry, as Siemens Gamesa’s onshore wind division CEO Ricardo Chocarro declared: “We are going beyond the turbines.”

More ($): Beyond turbines, European wind giants eye storage, solar to boost growth

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