Kyon-Obton deal enables 600 MW German battery storage
- Kyon Energy and Obton have joined forces to create a 195 MW battery energy storage portfolio. The projects, located across Germany, are set to revolutionize the energy landscape and total investment is estimated at high 3-digit million euro sum.
German energy storage developer Kyon Energy has sold a 195-MW portfolio of battery energy storage projects to Danish solar energy investor Obton. The portfolio consists of 15.8-MW/35-MWh projects in Tangermunde, Saxony-Anhalt, 20.7-MW/41.4-MWh scheme in Karstadt, Brandenburg, a 137.5-MW/275-MWh project in Alfeld, Lower Saxony and 20.7-MW scheme in an unspecified location. The deal is part of a framework agreement signed between the partners in July that will see them install up to 600 MW of storage capacity in Germany over the next three years. The infrastructure investment is estimated to be in the high three-digit million euro sum. All four sites are due to enter construction in 2021.
What Is the Impact of Kyon Energy Selling a 195-MW Battery Storage Portfolio?
- The acquisition of Kyon Energy's 195-MW battery storage portfolio illustrates Obton's commitment to renewable energy investments.
- The installation of 600 MW of storage capacity in Germany over the next three years will help to support the country's transition to a greener energy future
- The investment is projected to create hundreds of green jobs in the region and contribute to economic growth.
- Kyon Energy's storage portfolio is expected to provide grid stability and resiliency, enabling more renewable energy to be integrated into the grid.
- The battery storage projects will also help to reduce carbon emissions and support the country's goal of reaching net-zero emissions by 2050.
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