REDT Evora solar storage system installed

RNS Number : 1596Q

Camco Clean Energy PLC

10 October 2013

 



Camco Clean Energy plc

REDT Evora solar storage system installed

REDT* has successfully installed a demonstration flow battery system in Evora, Portugal which has a 5kW rated power with 12 hours (60kWh) storage capacity. This project is to develop control strategies for energy storage in Building Integrated PV (BIPV) installations, and the principal partner and host for the system is the University of Evora.  The system has been installed in a building on its agriculture and animal husbandry campus in Valverde, just outside Evora, and will supply stored solar energy to the facility there.

The system will be used to maximise the efficiency of a 6.6kW PV array that has been installed on the roof of the building and will time shift energy with voltage and frequency control so that energy costs are reduced. The system is capable of delivering a high quality domestic 2kW load for 2 to 3 days during periods of low solar output.

REDT was selected by the European Commission to build and supply its new flow battery system for this PVCROPS project, which is administered out of the Polytechnica University of Madrid and is part of the EU Seventh Framework Programme (FP7). 

The objectives of the PVCROPS project are to develop improved methodology, management, efficiency and cost reduction for renewable energy generated from solar PV installations. REDT is working collaboratively on this project with 11 other academic and industry partners from across Europe. 

This project offers REDT an excellent opportunity to prove its Vanadium Redox Flow Battery (VRFB) systems in conjunction with the most influential organisations in the European PV industry, and the potential for additional sales volume in this sector throughout Europe with the same partners.

The REDT VRFB system was specially designed for cost effective operation in Photovoltaic installations. Its very long lifespan (20 years) matches the life of the PV modules and it can accept deep discharges (up to 95%), balancing out the fluctuations of solar power. The REDT system is safe and non-flammable.    

Scott McGregor, Chief Executive Officer Camco and Executive Chairman REDT, said:

"The European Commission selected REDT's technology as the energy storage system of choice due to its very long lifespan, low total cost of ownership (TCO), environmental attributes and reliability. Reliable and cost effective energy storage for solar PV applications is critical to the full integration of solar renewables as a stable source of energy. Demand for renewable energy storage is poised to take off, as electricity costs are reaching an all-time high. With electricity retail prices approaching 20-30€cts/kWh in Germany, Italy, and Spain, and with PV/Storage systems reaching grid parity, these markets are becoming increasingly attractive for energy storage. The market for Energy Storage systems is forecast to reach €15 billion by 2020.

For more information about the project, visit www.pvcrops.eu 

For more information about the REDT system installed in Evora, visit www.poweringnow.com/news/fp7

Enquiries:

 Camco Clean Energy plc                                       [phone]         

 Scott McGregor, Chief Executive Officer

 Jonathan Marren, Chief Financial Officer

 N+1 Singer (Nominated Adviser and Broker)            [phone]

 Andrew Craig

 Ben Wright

About Camco Clean Energy

Camco Clean Energy plc (AIM: CCE) is an experienced project developer working to develop, construct, deliver and operate projects that contribute to building a sustainable future.

With more than 20 years of successful project delivery we help clients in Asia, North America, Africa and Europe to implement clean energy and emission reduction solutions, reducing costs and maximise financial and environmental benefits. We have an outstanding track record in technical delivery and commercial expertise, working with local industry, multinational companies, governments and regulatory bodies.

About REDT www.poweringnow.com

REDT has developed a unique energy storage technology which enables customers to efficiently (and sustainably) store electrical energy. REDT's technology is a unique Vanadium based flow battery which enables the cheap and efficient storage of electrical energy in liquid form. Because the technology relies on the reaction of different valence forms of the same element, Vanadium, the system has unlimited life, with very long cycle life between component replacement (approx. 10,000 full cycles).  This provides the ability for a customer to completely shift to renewable power sources for the first time ever. This represents a paradigm shift in energy production, and ultimately the complete displacement of conventional fossil fuel power with renewable generation. The system has applications in remote power, smart grids, power quality, and automotive industries.

* Camco Clean Energy plc, on a fully diluted basis, has an economic interest of 49% in REDT.

 

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