The TOP-5 largest energy storage projects in 2022 shutterstock

The TOP-5 largest energy storage projects in 2022

Katerina Belousova

In July, the largest vanadium redox battery was commissioned

2022 was a landmark year for the energy storage sector, as the largest deals in its history were implemented and concluded.

Specialists of Energy-Storage.news have prepared a selection of the largest projects, financing and sales deals in the energy storage sector in 2022.

Such projects include both lithium-ion and non-lithium storage in the US, China, Norway and the Philippines.

  • The largest BESS lithium-ion project: Crimson Energy Storage 1400 MWh (California, USA);

The material emphasized that operation of the Crimson four-hour energy storage system began in October. Power from the 350 MW/1,400 MWh project will be split approximately 60:40 between 14/15-year offtake agreements with utilities Southern California Edison (SCE) and Pacific Gas & Electric (PG&E), respectively.

  • Proposed largest BESS lithium-ion project: 4-4.5 GWh co-location BESS (Philippines);

In June, infrastructure group Razon's Prime Infrastructure Holdings proposed to build a 4,000-4,500 MWh solar-plus-storage project in the Philippines, the authors said.

  • The largest non-lithium/non-PHES project was put into operation: a vanadium-reduction battery with a capacity of 400 MWh (China);

The article noted that July announced the commissioning of the largest energy storage project without the use of lithium-ion batteries or hydroelectric storage (PHES), the two dominant technologies in the sector.

A 100 MW/400 MWh Vanadium Redox Battery (VRFB) was connected to the grid in May. This is the first half of a large system.

  • The largest financing of an energy storage project: $1.9 billion for Gemini solar-plus-storage (Nevada, USA);

In April, it said it secured debt and equity financing for Gemini, a 690 MW/966 MW DC solar PV installation with a 380 MW/1,416 MWh BESS project in Nevada. BESS will use lithium-ion batteries from supplier CATL and is expected to be released in late 2023.

  • Largest procurement agreement between a cellular provider and a system integrator: FREYR and Powin deal for 28.5 GWh.

"The largest announced sale deal by size was announced in May, when Norwegian lithium-ion battery gigafactory group FREYR agreed to sell 28.5 GWh of its battery cells to system integrator Powin Energy between 2024 and 2030," the authors said.

They explained that the cells will first come from FREYR's gigafactories in Norway, which will be operational in 2023/24, and then from FREYR's planned production in the US. Powin integrates FREYR batteries into its BESS solutions worldwide.

As EcoPolitic reported earlier, world energy storage market could reach 500 GW by 2031, with 75% of global demand in the highly consolidated market coming from the US and China.

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