Indian EPC and power developer Sterling and Wilson has this week announced the creation of a new business unit called Hybrid and Energy Storage Business, that will seek global opportunities to build power plants supported by energy storage globally.
The EPC already has more than 8 GW of large-scale power capacity installed around the world, in the sectors of solar PV, CHP, diesel generators and gas-based power. The new division will seek to tap all of these power sources for colocation with storage, focusing initially on remote and island locations.
However, underpinning its 1 GW installation target is a commitment to reduce the carbon footprint of identified locations, which will likely mean a focus on solar+storage applications in these regions.
The division’s new CEO, Deepak Thakur, will unveil the new business unit at the forthcoming Intersolar Europe and EES Europe shows in Munich in June. Thakur has previously spearheaded Sterling and Wilson’s solar division in India.
“The global hybrid and energy storage market is estimated to be around $40 billion by 2025,” Thakur said. “We are confident of providing our customers value for money through customized hybrid power plants and energy storage facilities.”
The EPC will focus on C&I installations as well as industrial-scale projects, while offering a diverse sizing range of battery technologies.
Finland’s Wärtsilä has recently taken a similar approach, viewing the solar and storage industries as holistic sectors that can complement, support and coexist with certain fossil fuels and other technologies.