| From: Eric | 2/27/2024 7:48:03 PM | | | | | | Collie Battery to get slice of Neoen’s $1.1 billion finance pie
The 219 MW / 877 MWh Collie Battery Stage 1 project being constructed in Western Australia’s southwest is the first new asset to be financed through a landmark $1.1 billion deal completed by French renewables developer Neoen.
February 27, 2024 Ev Foley
Image: Neoen
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Neoen says it has raised more than $1.1 billion (USD 720 million) in new debt finance that covers a significant portion of its Australian portfolio of clean energy projects that exceeds 3.75 GW of assets currently under construction or in operation.
The debt package, described by Neoen as “one of the largest for a renewable energy portfolio in Australia,” spans seven solar, wind and battery storage assets across five states with a combined generation capacity of 1.5 GW.
This includes the Numurkah Solar Farm in Victoria, the Western Downs Green Power Hub in Queensland and the Coleambally Solar Farm in New South Wales, as well as four wind farms – Bulgana in Victoria and the three stages of the Hornsdale wind complex in South Australia.
The finance deal, which includes $55 million from the Clean Energy Finance Corporation (CEFC), will also help finance the development of the Collie Battery Stage 1 that is due to be completed later this year.
The four-hour battery, currently being constructed near the town of the same name about 200 kilometres south of Perth, is Neoen’s longest-duration battery project so far and its first major project in the state.
The project is also the first WA big battery to be financed by the CEFC, with Chief Investment Officer Monique Miller saying long-duration storage has an important role to play in decarbonising the WA energy network and transitioning to a grid powered by renewable energy.
“Running from Kalbarri in the north to Albany in the south and Kalgoorlie in the east, the South West Interconnected System (SWIS) network is vital to a stable energy supply across this vast state so it is fitting that the CEFC’s first long-duration battery in WA is supporting the SWIS in delivering clean energy to West Australian homes and businesses,” she said.
Stage one of the project, which has been contracted by the Australian Energy Market Operator (AEMO) to help strengthen the South West Interconnected transmission system, involves less than a quarter of the project’s eventual capacity with approvals in place for the battery to scale to 1 GW /4 GWh.
When complete, the Collie Battery will provide bulk energy transfer services for power in WA, soaking up solar during the day when energy demand is low and dispatching it into the SWIS to support the network during peak evening demand.
The CEFC is one of 11 Australian and international lenders that took part in the debt financing package. Other lenders include Bank of China, China Construction Bank Corporation, Hongkong and Shanghai Banking Corporation (HSBC), ING, Mizuho, MUFG Bank, and Societe Generale.
Neoen Australia Chief Executive Louis de Sambucy said The financing package provides the company with further flexibility to grow its portfolio into the future.
“This transaction demonstrates the unique combined value of our portfolio and strengthens our business model of long-term owner and operator,” he said. “It provides a solid foundation for future growth and for achieving our ambition of 10 GW in Australia by 2030.”
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| From: Eric | 2/27/2024 8:14:06 PM | | | | | | Vanadium battery players partner on Queensland manufacturing supply chain
Australian minerals company Vecco Group will team with Japanese manufacturer Sumitomo Electric and Idemitsu Australia to build an ‘end-to-end’ manufacturing supply chain for vanadium flow batteries in north Queensland.
February 28, 2024 David Carroll
Image: Department of Foreign Affairs & Trade Queensland
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Brisbane-based Vecco Group, Sumitomo Electric and the Australian arm of Japanese resources and energy company Idemitsu have signed a collaboration agreement to establish a manufacturing supply chain – from mining to energy storage – for vanadium flow batteries.
Under the non-exclusive agreement, Idemitsu will market, sell and deliver vanadium flow batteries to Australian customers using Sumitomo battery hardware and Vecco’s electrolyte made from vanadium mined at its Debella Critical Minerals Project near Julia Creek in the state’s west.
The electrolyte will be manufactured at Vecco’s production facility in the north Queensland city of Townsville with final assembly of the batteries completed at customer sites.
Vecco is already operating a 35 MWh vanadium electrolyte manufacturing facility in Townsville but is now planning to deliver a 300 MWh commercial production plant. The company said it has secured a 3.2-hectare site in the Townsville State Development Area for the facility and the detailed design of the plant is underway.
It is anticipated that the complete manufacturing supply chain will be operational in 2026 with the companies looking to cater for “rapidly” growing global demand for the battery energy storage technology.
Vecco Group Managing Director Tom Northcott said vanadium flow batteries, which are emerging as an alternative to the lithium-ion batteries that currently dominate the stationary energy storage sector, are set to be a key part of the future energy storage mix.
“Demand for vanadium flow batteries is rapidly increasing to meet the world’s energy storage demands,” he said.
“Over 7.4 GWh of vanadium flow battery projects globally are currently under construction or have been announced in the last 12 months.”
“The decision for Idemitsu to market and deploy vanadium flow batteries using Sumitomo and Vecco products acknowledges the scale of the opportunity.”
Idemitsu Australia Chief Executive Officer Steve Kovac said the company’s involvement with the venture is part of its broader renewable and clean energy projects strategy.
“We believe that our participation in the complete vanadium flow battery manufacturing supply chain will create opportunities for Australia and serves the growing global demand for renewable energy storage,” he said.
The vanadium battery is lifted into place at Energy Queensland’s Berrinba depot.Image: Energy Queensland
The announcement comes as state government-owned utility Energy Queensland finalises the installation of a vanadium flow battery in the state’s south-east as part of a trial of the technology.
The 250 kW / 750 kWh battery, supplied by Vecco and Sumitomo, is being installed at Energy Queensland’s depot at Berrinba in Brisbane’s south, and will be used to test the viability of the technology to provide the medium- and long-duration storage required for the state to meet its renewable energy commitments.
Energy Queensland said construction of the battery is in full swing with the commissioning of it expected in the final quarter this year.
“We look forward to the outcome of this trial as part of our wider mix of battery technology we have on, and building into, the grid,” it said.
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| From: Eric | 3/6/2024 1:26:24 PM | | | | | | Battery prices collapsing, grid-tied energy storage expanding
From July 2023 through summer 2024, battery cell pricing is expected to plummet by over 60% (and potentially more) due to a surge in EV adoption and grid expansion in China and the U.S.
March 6, 2024 John Fitzgerald Weaver
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We are in the midst of a year-long acceleration in the decline of battery cell prices, a trend that is reminiscent of recent solar cell price reductions.
Since last summer, lithium battery cell pricing has plummeted by approximately 50%, according to Contemporary Amperex Technology Co. Limited (CATL), the world’s largest battery manufacturer. In early summer 2023, publicly available prices ranged from 0.8 to 0.9 RMB/Wh ($0.11 to $0.13 USD/Wh), or about $110 to 130/kWh.
Pricing initially fell by about a third by the end of summer 2023. Now, as reported by CnEVPost, large EV battery buyers are acquiring cells at 0.4 RMB/Wh, representing a price decline of 50%to 56%. Leapmotor’s CEO, Cao Li, expects further reductions, with prices potentially dropping to 0.32 RMB/Wh this summer, marking a decrease of 60% to 64% in a single year.
EnergyTrend observed that energy storage battery cells are priced similarly to electric vehicle battery cells.
Additionally, CnEVPost reports that the battery cells being sold come equipped with advanced technologies, including faster charge rates, higher cycle life, improved temperature management characteristics, and higher energy density packaging.
A February report from Goldman Sachs attributes the accelerated price declines partly to a slight slowdown in electric vehicle adoption, leading to lower commodity prices. The finance group revised its global battery demand growth projection to 29% for 2024, down from the previous estimate of 35%, with a 31% growth expected in 2023.
Goldman also forecasts a 40% reduction in battery pack prices over 2023 and 2024, followed by a continued decline to reach a total 50% reduction by 2025-2026. Goldman predicts that these price reductions will make electric vehicles as affordable as gasoline-powered vehicles, leading to increased demand.
One of the most notable commodity price declines related to EVs is that of lithium hydroxide. Its price surged from late 2021 through 2022, then began to tumble in early 2023, and continues to decrease today.
The price decreases are attributed to several factors, including a perception of stabilizing demand as manufacturers struggle to make EVs profitable, which has led to a softening of speculative investment in vehicle metal futures markets. Other contributing factors include supply chain improvements, decreasing inflation, and new lithium supplies coming online.
Other metals, such as copper, have fallen from pandemic-era highs but have not returned to pre-2020 prices.
Interestingly, both batteries and solar panels have seen their prices drop by about 90% since 2010, with both products currently experiencing accelerated price declines. The Rocky Mountain Institute’s December report, “X-Change: Batteries – The Battery Domino Effect,” presents a chart mirroring the trends seen in solar panels over the last fourteen years.
Looking back thirty or forty years, the costs of both batteries and solar panels have decreased by 99% or more for their base units.
Driven by these price declines, grid-tied energy storage deployment has seen robust growth over the past decade, a trend that is expected to continue into 2024. The U.S. is projected to nearly double its deployed battery capacity by adding more than 14 GW of hardware this year alone. China is anticipated to become the grid storage leader, with deployments of just over 24 GW of capacity expected. EnergyTrend forecasts a global deployment of 71 GW of capacity, representing a 46% expansion over the 177% growth seen in 2022.
There is abundant anecdotal evidence from public and private sources corroborating these price declines in the marketplace. A significant example is the drop in electric vehicle prices over the past year, so substantial that Hertz had to publicly adjust the value of its Tesla fleet due to falling resale values. pv magazine USA has spoken with multiple energy storage vendors who have reported significant reductions in pricing, though one noted that while cell pricing has fallen significantly, the broader balance of system surrounding the battery cells has not fallen as quickly.
One vendor mentioned that advancements in battery cell technology, leading to increased energy densities, have contributed to lower deployed system costs per kWh.
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| From: Eric | 3/6/2024 9:11:36 PM | | | | | | Battery heavyweights reaffirm commitment to solid-state technology
Only weeks after Chinese battery and car manufacturers united as part of a government-led initiative to commercialize solid-state battery technology, South Korea’s Samsung SDI has confirmed its readiness to start mass production of its all-solid-state battery technology with an energy density of 900 Wh/L.
March 6, 2024 Marija Maisch
Image: Toyota
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As lithium-ion batteries continue to improve in terms of both performance and cost, it is becoming increasingly difficult for alternative technologies to challenge the incumbent. However, interest in solid-state batteries, which promise better energy density and safety, has not waned, judging by recent announcements.
South Korea’s Samsung SDI is moving toward mass production of its all-solid-state battery technology with an energy density of 900 Wh/L. This week, the company is unveiling a technology roadmap at the InterBattery show in Seoul.
The document will demonstrate that every aspect of its plan for mass producing all solid-state batteries in 2027 is well on track, from development production line project launch to supply chain management, Samsung SDI said in a statement.
In December 2023, Samsung SDI established a dedicated team to promote the commercialization of its all solid-state business. Previously, it set up a pilot in its R&D Center in Suwon last year and is currently delivering proto samples.
“Our preparations for mass-producing next-generation products of various form factors such as all solid-state battery are well underway,” said Samsung SDI President and CEO Yoon-ho Choi.
Like CATL, BYD and Toyota, Samsung’s solid-state technology is based on sulfide-based solid electrolytes, which have the highest lithium ion conductivity compared to other solid state electrolytes. All solid-state batteries developed by Samsung SDI stand out for their anode-less configuration which is said to offer improved performance compared to devices featuring lithium metal anode and solid electrolyte.
Samsung’s roadmap release comes hot off the heals of the announcement of a Chinese national alliance of automakers and battery giants, including BYD, CATL, and Nio, aimed at developing all solid-state batteries.
In a bid to build a supply chain for solid-state batteries by 2030, Beijing in January set up a consortium, the China All-Solid-State Battery Collaborative Innovation Platform (CASIP), which brings together government, academia, and industry.
China already dominates the global battery market and looks determined to stay on top by boosting research and development of next-gen battery technologies, such as solid-state batteries which are particularly suited for electric mobility applications.
Among automakers, Japanese Toyota Motors has taken the lead with more the 1,000 solid-state battery patents. Last month, it said that it is preparing to mass-produce solid-state batteries by 2027 or 2028.
Nissan and Honda have previously revealed plans to establish solid-state battery manufacturing lines in-house. Meanwhile, Western automakers such as Volkswagen, Mercedes-Benz, Stellantis, BMW, and Ford are also exploring solid-state batteries through partnerships with startups.
However, the production of solid-state batteries at scale is still held back by technological challenges and high costs, with industry analysts warning of a relatively tough path toward mass production in the coming years.
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| From: Eric | 3/12/2024 8:55:47 PM | | | | | | Tesla takes over new industrial park in Austin suburb, potentially for battery production
Fred Lambert | Mar 12 2024 - 3:19 pm PT
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Tesla has taken over most of a new industrial park project in Austin’s suburb of Kyle. The reason why is not confirmed, but it could be for battery production.
Despite Tesla’s Gigafactory Texas site in Austin being its biggest gigafactory site to date, the automaker hasn’t shied away from securing more space around the growing central Texas city.
Tesla has secured several buildings in the 5-building Kyle/35 Logistics Park in Kyle, Texas, a suburb south of Austin.
According to the Austin Business Journal, Tesla has secured leases for over 900,000 square feet in the park’s Buildings 2, 3, and 5.
Now, a new filing confirms that Tesla has also secured 127,000 square feet of the 224,000-square-foot Building 1, which means that Tesla is taking over most of the park with at least 1 million square feet of the park’s 1.4 million-square-foot.
As for what Tesla plans to do with the significant new space not too far from its Gigafactory Texas, where it produces Model Y, Cybertruck, and battery cells, it’s not exactly clear.
But the automaker has recently listed new job openings in Kyle, and they are all related to battery cells:
It could mean that Tesla plans to use this space to support its battery cell production at Gigafactory Texas.
Electrek’s Take
Tesla is helping turn Texas into a hub for battery cell production from source material processing to cell production.
On top of the 4680 cell production at Gigafactory Texas, Tesla is also building its lithium refinery in Corpus Christi, Texas. It is also building a cathode factory in a separate building on the Gigafactory Texas site.
Now, the use of this new 1 million+ square-foot site is less clear, but it will have to do with battery production.
It’s beautiful to see.
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| From: Eric | 3/14/2024 12:13:23 PM | | | | | | Charged by the IRA, U.S. expected to outpace Europe in lithium-ion battery cells
Global manufacturing of lithium-ion battery cells is expected to triple between 2022 and 2025, according to a report from Clean Energy Associates.
March 8, 2024 Ryan Kennedy
A researcher at the University of Tennessee examines a lithium-ion battery.
Image: Wikimedia Commons
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Worldwide, production of lithium-ion battery cells is expanding rapidly. Electric vehicles are the dominant driver of demand, and both home energy storage and grid-scale batteries are expected to contribute as well.
A report from Clean Energy Associates (CEA) outlined that by 2025, global manufacturing of lithium-ion battery (LIB) cells is expected to triple from 2022 levels. It said the U.S. is expected to produce more battery cells than the European Union, largely due to incentives created by the Inflation Reduction Act of 2022.
“The IRA attracted outsized investments in domestic cell production capacity with $35 per kWh tax credit available and bolstered by an additional $10 per kWh tax credit for assembled modules,” said the report.
CEA is a manufacturing quality assurance firm with insight into global battery energy storage systems supply chains. Its Q4 2023 report focuses on emerging trends in this space.
While the U.S. and Europe have a sizeable share of the global LIB battery production supply chain, it is still heavily dominated by China, said the report.
CEA said the U.S. has taken an “aggressive approach” to LIB supply chain expansion, offering a “raft of incentives” via the Inflation Reduction Act. However, upstream legs of the supply chain take a long time to set up, with brine mining, refinement, separators, and more requiring considerable time to reach operations. CEA said western markets need “a sense of urgency” if supply chain diversification is a desired goal.
CEA said collapsing lithium prices has led to a cooling-off in demand for chemical alternatives to the mainstream nickel manganese cobalt (NMC) and lithium-ferro-phosphate (LFP) chemistries. This leads to a negative impact on commercialization for new technologies like sodium-ion batteries. However, CEA said more evolutionary chemistries like lithium manganese iron phosphate (LMFP) may find their way into electric vehicles and energy storage sectors as early as 2025.
Growth in midstream production capacity is helping push cost reductions for LIB cells, said the report. Cathode active materials and anode active materials are being produced with increasing capacity, lowering the overall cost of batteries.
The report said that supply chain growth is outpacing demand as major economies aim public policy at localization of battery cell and cell subcomponent production assets.
A report from Goldman Sachs forecasts a 40% reduction in battery pack prices over 2023 and 2024, followed by a continued decline to reach a total 50% reduction by 2025-2026. Goldman predicts that these price reductions will make electric vehicles as affordable as gasoline-powered vehicles, leading to increased demand.
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| From: Eric | 3/19/2024 9:27:59 PM | | | | | | What’s in store for storage?
InfoLink’s global lithium ion battery supply chain database indicates that the energy storage market experienced a severe surplus and a growing price war in 2023. Despite these forces, market momentum is supporting relatively rapid expansion.
March 19, 2024 Robin Song
Image: pv magazine
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From pv magazine print edition 3/24
The world gained 110 GWh of energy storage in 2023, up 149% from 2022. The scaling of demand in China, the United States, and Europe accounted for more than 90% of the global market.
In China, several provinces are strengthening storage policies to stimulate growth in utility-based, front-of-the-meter (FTM) storage. In the world’s largest energy storage market, China, storage capacity reached 52 GWh in 2023, up 229% year over year.
The United States experienced a bumpier ride. A shortage of transformers disrupted the energy storage industrial chain, while project approval procedures remained complicated, resulting in severe project and grid-connection delays. Policy made an impact, with a US Inflation Reduction Act (IRA) tax credit significantly increasing the economic efficiency of storage projects. The United States gained 25.8 GWh of storage in 2023, up 112% year on year.
Europe gained 21.8 GWh of storage in 2023, up 117%, driven by residential and FTM projects. Residential batteries are still consuming surplus inventory. In Italy, the extension to the end of March 2023 for the 110% tax-deduction “superbonus” for renovations, saw home storage installations peak in the first quarter before falling markedly. Italy installed 2.7 GWh of storage in 2023, up 35% year on year.
Germany added 4.6 GWh of storage in 2023, for an annual rise of 142%. Batteries peaked in June before falling every month thereafter due to a sluggish economy, falling electricity prices, and a related fall in the home storage business case.
Policy reforms regarding the European Union power market are expected to push other European Union member states to include energy storage as part of their energy planning, which will further drive demand.
Big shipments
Some 196.7 GWh of battery cells were shipped in 2023, up 61% year on year. Utility-scale and commercial and industrial shipments were 168.5 GWh, up 67%. Small-scale-related shipments transported 28.14 GWh, up 27.9%. The market fell short of expectations for the high-season fourth quarter, with shipments up only 1.3% from July 2023 to September 2023.
Of the battery manufacturers, CATL remained dominant, with more than 70 GWh of cells shipped. BYD and Eve Energy both topped 25 GWh and REPT and Hithium both shipped more than 15 GWh. Those big five players cornered 76.7% of the market in 2023, up from 68.7% in 2022, thanks to successful cost controls. The battery companies ranked sixth to tenth shipped less than 10 GWh each in 2023, ensuring the top 10 accounted for 92% of the market, up from 86.7% in 2022. South Korean manufacturers Samsung SDI and LG shipped a total of almost 14 GWh in 2023, down 7% year on year.
Breaking down total battery cell shipments, CATL, BYD, Eve Energy, Hithium, and REPT were the top five for utility scale energy storage shipments in 2023, with CATL topping 65 GWh of shipments and its biggest rival less than 22 GWh. With utility-scale storage cell costs falling below CNY 0.40 ($0.06)/Wh, manufacturers with better cost control and financing can still invest in cell technology R&D. Amid increasing competition, big cell makers are introducing large capacity cells utilizing stacking technology and moving toward systems integrated with direct-current side energy storage, in order to differentiate their products.
Severe competition
CATL, REPT, Eve Energy, BYD, and Great Power shipped the most small-scale storage cells in 2023 and cornered 85.1% of the market, up from 84.7% year on year. Competition was severe. CATL, including ATL joint venture Ampace, held more than 25% of the market. Their chief competitors had 12% to 17% each. The market grew only 27.7% between 2022 and 2023, thanks to small-scale storage inventory pile-up. That slowdown is expected to last until late March 2024 or early April 2024, based on current inventory depletion, with shipments to pick up from June 2024.
Chinese companies made up the world’s top five battery cell makers in 2023, with LG and Samsung emerging as the only non-Chinese operators in the top 10. Shipment numbers for 2023 underscored the confidence of big manufacturers in overseas expansion. Chinese cell makers plan to develop about 579 GWh of annual production capacity overseas, according to InfoLink’s global lithium ion battery supply chain database. That includes 353.4 GWh from production lines in Europe and 144 GWh in the United States, as well as electric vehicles. InfoLink expects more than 250 GWh of cell capacity overseas from Chinese companies by 2026. The resulting market share grab will help Chinese companies to circumvent domestic manufacturing policies, which could put rivals from South Korea and other nations under pressure.
Looking ahead, as inventory levels gradually decrease, prices across the industrial energy storage supply chain will stabilize. That development, coupled with supportive policies, means InfoLink expects the global energy storage market to sustain growth at a medium to high pace. The global expansion of energy storage installations is projected to grow at a rate of 50% to 165 GWh per year, while energy storage cell shipments will expand by 35% to 266 GWh.
pv-magazine-usa.com
About the author: Robin Song is an energy storage analyst at InfoLink Consulting, focusing on lithium ion battery supply and demand analysis. He also provides insights on energy storage market trends. He previously worked for a leading lithium ion battery manufacturer, where he provided market and investment analysis. |
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(Credit: CATL)