Duke Energy, LG Chem, Greensmith commission fast-response energy storage system in Ohio
CHARLOTTE, N.C., Nov. 18, 2015 -- Duke Energy, LG Chem and Greensmith are bringing new technology to the site of a 1952 retired coal plant, announcing the completion of a 2-megawatt (MW) battery-based energy storage system designed to increase reliability and stability on the electric power grid.
The fast-response system is now actively regulating electric grid frequency for PJM, the regional transmission organization that directs the flow of electricity for 61 million people in 13 states and the District of Columbia.
Construction began in August 2015, at Duke Energy's retired W.C. Beckjord coal-fired power plant in New Richmond, Ohio, and the system began operations on Nov. 17.
"Locating the storage system at our retired coal plant allowed us to take advantage of the grid infrastructure already in place and repurpose the site for use with new, relevant technology," said Phil Grigsby, Duke Energy's senior vice president of Commercial Transmission. "This system is another step for Duke in the development of turnkey energy storage solutions that benefit customers and demonstrate the potential for future applications, such as large-scale integration of renewable energy onto the grid."
Improving the reliability and economic efficiency of the electric grid provides a unique service to grid operators. As customer demand fluctuates, accurate and rapid-response energy storage can instantaneously absorb excess energy from the grid or release energy in seconds -- as opposed to a power plant that could take 10 minutes or more to ramp up.
LG Chem delivered the project's energy storage operating system, comprised of advanced lithium-ion batteries.
"LG Chem is pleased to deliver this system to Duke Energy for critical grid functions," said Sunghoon Jang, senior vice president of LG Chem's Energy Storage Solutions business unit. "Beckjord 2 is the latest example of how LG Chem is meeting customer needs by rapidly deploying energy storage systems for critical, real-world applications."
Greensmith provided its latest GEMS energy storage software platform to manage the system's performance for PJM frequency regulation, ensuring precise and synchronized response to signals dispatched every two seconds.
"Maximizing an energy storage system's frequency regulation score while minimizing battery degradation throughout the system's life is no trivial task," said Greensmith CEO John Jung. "However, our GEMS frequency regulation software module enables Duke to achieve superior PJM performance scoring while extending the life of the batteries, thereby helping them increase the long-term value of their energy storage investment."
Greensmith's scope also included the design and configuration of the entire energy storage system, integration of the balance-of-plant components and site commissioning.
Parker Hannifin provided a 2-MW power conversion inverter.
The 2-MW project adds to Duke Energy's installed base of commercially operating energy storage systems. With the completion of the new project, the company will operate a total of 4 MW of energy storage at Beckjord, where a separate 2-MW battery system already exists. Duke Energy also owns and operates a 36-MW energy storage system at its Notrees Windpower Project in Texas.
According to independent research firm HIS Energy, Duke Energy owns nearly 15 percent of the grid-connected, battery-based energy storage capacity in the U.S.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
About LG Chem
LG Chem Ltd. is one of the world's largest lithium-ion battery manufacturers with significant market share in consumer, automotive and stationary applications. LG Chem Ltd. is a globally diversified chemical company that operates three main business units: Petrochemicals, IT & Electronic Materials, and Energy Solution. The company manufactures a wide range of products, from petrochemical goods to high-value added plastics, and extends its chemical expertise into high-tech areas such as electronic materials and rechargeable batteries.
Greensmith's mission is to make energy storage a fundamental component of a cleaner, more advanced energy infrastructure. Its intelligent and flexible GEMS software platform optimizes the performance of a grid-scale energy storage system's batteries, inverters and other hardware, lowering costs and improving the system's return on investment. Greensmith delivered one-third of the energy storage capacity installed in the United States in 2014. Its GEMS energy storage software platform is currently used by more than 20 customers for multiple applications at 50 different sites, including the single largest battery-based energy storage system deployed globally in 2014, which provides 24x7 frequency regulation services. Learn more at www.greensmithenergy.com.
About Parker Hannifin
With annual sales of approximately $13 billion in fiscal year 2015, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of mobile, industrial and aerospace markets. The company employs approximately 55,000 people in 50 countries around the world. Parker has increased its annual dividends paid to shareholders for 59 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. For more information, visit the company's website at www.parker.com, or its investor information website at www.phstock.com.
Contact: Tammie McGee, Duke Energy
Office: 980.373.8812; 24-Hour: 800.559.3853
Contact: Richard H. Pacini, The Millerschin Group for LG Chem
Office: 248.276.1970; email@example.com
Contact: Jason Brown, Eastwick Communications for Greensmith
Office: 415.820.4169; Jason@eastwick.com
Contact: Lou Lambruschi, Parker Hannifin
Office: 704.583.8101; firstname.lastname@example.org