New Horizons Ahead (NHOA), previously known as Engie EPS, has been awarded a 200 MWh battery energy storage system (BESS) project in Australia. According to a company statement, the project’s building phase will begin immediately at an as-yet-undisclosed location for an unnamed customer, with completion expected by the end of 2022. Furthermore, an engineering, procurement, and construction (EPC) counterparty contract has already been signed at the beginning of October 2021.
The deal and other contracts signed during the third quarter of 2021 brings NHOA to 924 MWh of stationary BESS projects under development in the US, Europe, Africa and the Asia Pacific. This represents a 28 per cent increase over figures released in September 2021, when the company announced its half-year financial results for 2021.
NHOA’s main business areas are energy storage, which it puts into its Global Business Line Storage division and e-mobility, which includes a joint venture called Free2Move with multinational automotive manufacturer Stellantis. NHOA is headquartered in Italy. It was formed after Taiwan Cement Corporation’s (TCC’s) acquisition of Engie EPS.
REGlobal’s Views: There has been a significant uptake of large energy storage projects in Australia to fill the gaps left by retiring fossil fuel based projects, as the country plans massive deployment of renewable energy.