Nuclear technology company Rosatom, Russia’s biggest electricity provider and the country’s supplier of nuclear fuel for power plants, has launched an energy storage business through its TVEL Fuel Company (TVEL) unit, which has set up a dedicated subsidiary, RENERA. The new company will produce module type lithium-ion traction batteries for electric vehicles (EVs), as well as energy storage systems for emergency power supplies, renewable energy resources, and the smoothing of load demand, TVEL stated.
The name of the company, RENERA (an acronym for Rosatom – Energy Storage Solutions) “symbolises a new era in energy-high-tech solutions that contribute to the development of the industry in terms of decarbonisation, environmental friendliness, energy efficiency and digitalisation,” Tvel said.
In addition to EV industry segments, the company will focus on energy storage systems for applications including emergency power supply, renewable energy and smoothing load demand on the grid. Including contracts already signed by TVEL business enterprises, Rosatom claimed it already has more than 120 projects, both ongoing and completed, for the supply of lithium-ion battery storage devices: again these span across applications from EVs for logistics to substation DC power systems and uninterruptible power supply (UPS) systems.
Rosatom is already operating in the renewable energy sector via its NovaWind unit, which mostly focuses on the wind power business. It also has an R&D center which is capable to develop energy storage solutions as for grids and substations, as well as for renewable energy sources, including both wind and solar.
The Russian state-owned conglomerate’s nuclear power plants currently cover around 20 per cent of Russia’s total electricity demand.
REGlobal’s Views: Module type lithium-ion traction batteries are widely in demand in the EV market and are one of the most cost-efficient and technologically advanced solutions for intralogistics. Its growing application in the renewable energy and grid storage spaces has further strengthened the business case of venturing into this segment.