VRB Energy Chairman Robert Friedland and Chief Executive Officer Dr. Mianyan Huang announced a framework agreement for a 100 megawatt (MW) solar photovoltaic (PV) and 100MW / 500MWh vanadium flow battery integrated power station project in Xiangyang, Hubei Province.
The agreement also includes construction of the first 50MW per annum of a new 1,000MW per annum VRB-ESS® “Gigafactory” manufacturing facility, and a vanadium flow battery intelligent energy research and development (R&D) institute.
The agreement was signed by the Xiangyang Municipal Government, Hubei Pingfan New Energy, the Xiangyang High-tech State-owned Capital Investment and Operation Group, and VRB Energy at a ceremony on March 4th. The initial 40MW / 200MWh VRB-ESS® and 50MW per annum of manufacturing will start construction by May 2021.
Mr. Friedland, VRB Energy Chairman:
This project is a massive catalyst for VRB Energy’s global growth and further demonstrates that we are developing the absolute best technologies to support the worldwide green energy revolution
“China wants to install over 1,000 gigawatts (GW) of new solar PV and wind power by 2030 and they are not alone in the commitment to decarbonization and the ‘greening’ of their power grids; with both the U.S. and the European Union prioritizing renewable power solutions.”
“Energy storage remains a key challenge in the mass adoption of renewable energy, and we’re extremely proud to be leading the way in creating cutting-edge solutions at VRB,” Mr. Friedland added.
The project builds upon the success of a “PV+VRB” project of 3MW PV and 3MW / 12MWh VRB-ESS® in Xiangyang executed with Pingfan New Energy in 2019, which further validates the business model and the technology as ideally suited for integration of the daily cycling of solar PV onto utility grids.
Dr. Huang noted that Hubei Province has rich mineral resources, outstanding industrial advantages, and an excellent business environment.
Dr. Mianyan Huang, Chief Executive Officer:
“This presents a unique opportunity for scale-up of the vanadium flow battery industry, and we applaud the government’s plans to support development of a US$14 billion world-leading vanadium energy storage industry cluster,”
VRB Energy’s 100MW project in Hubei is among a growing number of 100MW flow battery projects being prioritized in China as part of its national energy storage policy and accelerated infrastructure investment in support of post-Covid economic growth. In addition, provinces from Xinjiang to Shandong are now requiring minimums of 5% to 20% energy storage to be installed with new solar and wind power development.
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Beyond China, the company has stated it is in discussions with numerous developers and utilities in the U.S., Australia and South Africa for 100MW-class PV+VRB projects. Developers and utilities are attracted to the low levelized cost of energy (LCOE) that VRB-ESS® deliver – with no cycle limits and no degradation of the vanadium electrolyte they are an ideal fit for the “heavy duty” daily cycling required for solar and wind integration to utility grids.
✔️ Framework also includes ‘Gigafactory’ manufacturing facility and vanadium flow battery R&D institute
VRB Energy announces agreement for China’s largest solar battery; a 100MW solar & storage project in Hubei Province, BEIJING, CHINA / VANCOUVER, CANADA, March 15, 2021
