NHOA Bags 200MWh Battery Storage Project in Australia

• Energy storage and also e-mobility remedies firm New HOrizons Ahead (NHOA), which was previously known as Engie EPS, has actually won a 200MWh battery energy storage system (BESS) project in Australia.

NHOA stated that the building and construction phase of the project, at an as-yet undisclosed location for an unnamed consumer, is arranged to start instantly, with conclusion expected by the end of 2022.

Energy storage and also e-mobility options firm New HOrizons Ahead (NHOA), which was formerly called Engie EPS, has actually won a 200MWh battery energy storage system (BESS) project in Australia.

NHOA claimed that the building phase of the project, at an as-yet unrevealed place for an unnamed customer, is scheduled to start quickly, with conclusion anticipated by the end of 2022.

An engineering, procurement and building (EPC) counterparty agreement has currently been signed at the beginning of this month, NHOA claimed in a news release lately. More details on the project are expected to be announced soon.

The offer as well as various other contracts authorized throughout the third quarter of 2021 brings NHOA to 924MWh of stationary BESS projects under growth in the US, Europe, Africa as well as Asia Pacific.

This is an increase of 28% over numbers released in September as the firm provided its half-year 2021 monetary results. NHOA currently has EUR225 countless protected backlog and agreements, which is a dive of 51% from the end of H1 2021, with backlog representing EUR121 million.

The business, which was introduced after the bulk acquisition of Engie EPS by Taiwan Cement Corporation (TCC) previously this year, already said before the latest project statement that it was on-track to attain its 2021 as well as 2022 income advice.

In 2021, it anticipates between EUR40 million and also EUR60 million of revenues, rising to EUR100 million to EUR150 million in 2022, which would certainly allow it to break even on EBITDA.

NHOA stays headquartered in Italy, as Engie EPS was, but execs claimed the TCC requisition would certainly help create an Asian-European energy storage powerhouse, integrating the Taiwanese company's access to a world-class manufacturing base as well as supply chains with the energy storage business's experience acquired in the market since its beginning as Electro Power Systems in 2011 before its initial acquisition by Engie.

NHOA's main service areas are energy storage, which it takes into its Global Business Line Storage (GBL Storage) department as well as e-mobility, that includes a joint endeavor (JV) called Free2Move with multinational vehicle producer Stellantis.