PROVIDENCE ASSET GROUP has signed a strategic partnership with SYL (Ningbo) Battery Co. LTD, the subsidiary of Risen Energy for the supply of lithium-ion battery storage solutions and equipment.
The Memorandum of Understanding provides Providence Asset Group’s subsidiary H2Store access to world leading technology and expertise for integration into their Hydrogen Energy Storage Solutions (HESS).
The H2Store HESS combines hydrogen and lithium-ion battery technology to increase storage capacity and efficiency, enabling up to 20,000 charging/discharging cycles providing flexibility to dispatch renewable energy to end users at scale or in residential units. The partnership with Risen is the second significant agreement Providence has signed in securing world leading providers following their announcement with Nedstack for the supply of fuel cells into H2Store’s HESS.
Risen’s battery technology will be deployed across Providence’s renewable energy portfolio of solar farms and H2Store solutions:
- Large scale storage at Yarranlea solar farm 102.5 MWh in QLD
- Community scale storage across 20x 5MWh solar farms in regional NSW, including Manilla.
- H2Store residential storage unit
About SYL Battery Co. LTD.
SYL (Ningbo) Battery Co. LTD. is a subsidiary of Risen and design, plan, develop and operate service of ESS, micro-grid and smart distribution grids based on their energy storage battery technology. The recently won the “most innovative enterprise” award of 2019 Distributed Photovoltaics and Energy Storage Innovation Development Summit in Suzhou, China