O2 Power, an India-based renewable energy producer, has signed a memorandum of understanding with Powin, a US-based battery energy storage company, to supply battery storage solutions for the Indian renewable energy sector. Powin will reportedly be in charge of battery energy storage system (BESS) delivery and commissioning, while O2 Power would provide full EPC services for the projects they are constructing.
Reportedly, O2 Power has won about 1.8 GW of projects across a diverse portfolio, with the objective of becoming a leading participant in the design and construction of standalone storage systems and renewable energy integrated storage systems. Under this agreement, Powin will provide O2 Power with its advanced Stacks product lines, including the Centipede BESS hardware platform and the StackOS software platform.
In February 2022, Powin agreed to deliver 5.8 GWh of BESS over the next two years under framework agreements with four firms. The firm would provide BESS solutions to a number of projects in the US and Taiwan. Powin will provide fully integrated BESS solutions that include inverters, cells, battery management, cables and transformers, as well as software and control systems, among other components, under the terms of the deal.
REGlobal’s Views: Like many renewable energy IPPs across the globe, O2 Power is planning to build its energy storage portfolio which are going to play a major role in the global energy landscape, not only for e-mobility but also for grid stability applications.