Global energy storage platform provider Powin LLC (Powin) and Australia's leading battery storage developer Akaysha Energy today announced a collaborative framework agreement under which Powin will deploy 1.7GWh of energy storage over the next two years.
The partnership with Akaysha represents Powin's entry into one of the largest and most complex energy markets in the world. As Australia continues to phase out fossil fuel power plants and invest further in renewable energy, energy storage is critical to maintaining grid reliability while keeping energy prices low.
With more than 3 GWh of storage capacity in its portfolio, Akaysha was recently acquired by funds managed by BlackRock Real Assets' climate infrastructure business. BlackRock Real Assets recently announced that it intends to commit more than A$1 billion to support Akaysha's development of battery storage assets in Australia.
Akaysha has partnered with Powin to improve the performance, reliability and security of its Stack product line and StackOS control system. Utilizing their StackOS advanced plant controller, Powin's engineering team and Akaysha have been working closely together for several months and are making good progress on the grid interconnection process, including mandatory market entry by the Australian grid operator and the Initial project for performance standards for power plants connected to the Australian grid.
On July 12, 2022, the United States and Australia signed the Australia-U.S. Net-Zero Technology Acceleration Partnership to accelerate the development and deployment of zero-emission technologies to reduce greenhouse gas emissions and boost economic growth. The United States and Australia share a goal of achieving net-zero carbon emissions by 2050. Both countries recognize that energy storage will play an integral role in reducing emissions by accelerating the adoption of renewable energy and improving grid reliability.
