After TECO Electric and Machinery Co., Ltd., a major electric motor manufacturer, and PJ Asset Management Group became partners, the first cooperation between the two parties was in the energy storage business. Seeing the rise of Taiwan's energy storage market, Fluence, the world's largest grid energy storage leader, and Ina Energy Corp., a subsidiary of PJ Asset Management Group, reached a strategic cooperation. YATEC Engineering Corporation, a subsidiary of TECO, is responsible for the construction of the energy storage system, and jointly seizes the opportunity of automatic frequency control (AFC) service of Taiwan Power Company Trading Platform.
From the perspective of the cooperation among three parties, Fluence provides modular energy storage equipment; Ina Energy Corp. has rich experience in operating solar power projects, and YATEC Engineering Corporation is the largest electronic control system integrator in Taiwan, specializing in electromechanical engineering. The three parties combined their expertise to enter the Taiwan energy storage market. The total capacity of battery energy storage in the first phase will reach 6MW/6MWh (megawatt hour), which is Fluence's first energy storage site in Taiwan. The site is expected to operate in parallel by November next year.
To grab the Energy storage market of NT $200 billion, Fluence joined hands with Ina Energy Corp. and YATEC Engineering Corporation to participate in Taiwan Power Company automatic frequency control (AFC) service
Fluence is the world's number one energy storage company in terms of capacity. It is a global energy storage technology solutions and services company established by SIEMENS and AES Corporation. Over 3.6GW of energy storage systems have been installed in 30 markets around the world, and they have established more than 150 sites, serving clients from public utilities, power transmission and distribution companies, private power plants and industrial and commercial users.
As the world strives to develop renewable energy, green electricity can become a reliable source of electricity through the integration of storage facilities. According to Bloomberg New Energy Finance (BNEF), global storage capacity is expected to grow to 358GW by 2030, a 20-fold increase compared to 2020. At the same time, Taiwan's energy transformation drives the demand of energy storage market. According to the 2025 battery storage plan proposed by Taiwan Power Company, it is predicted that the scale of energy storage in Taiwan will expand to 20GWh in 2030, and the market size will reach NT $200 billion, bringing business opportunities to the industrial ecosystem and supply chain partners. By establishing an electricity trading platform, Taiwan Power Company plans its “energy storage system” to participate in the automatic frequency control (AFC) service market. The “Day-Ahead AFC service market” first launched by Taiwan Power Company refers to the matching on the day before the dispatch day to meet the electricity supply and demand on the dispatch day.
Automatic Frequency Control (AFC), which Fluence participated in this time, is an energy storage project with higher difficulty and faster response requirement for power trading platform. When Taiwan Power Company’s power grid needs support, its energy storage system should respond immediately within 1-10 seconds and last for more than 15 minutes to help maintain the stability of power grid frequency and avoid greater crisis caused by power grid failure.
Fluence deploys in Asia-Pacific and will provide more diversified energy storage applications.
Regarding the cooperation among the three parties, Achal Sondhi, vice president of market development for Fluence Asia Pacific, said that “Fluence regards Taiwan as a key market in the Asia-Pacific layout. We participate in Taiwan's energy transition with AFC services in many applications of battery energy storage systems. Fluence’s market development across the Asia-Pacific region is indicative. We look forward to working with Taiwanese business partners to provide more diverse energy storage applications in the future.”
From Fluence's official website, in addition to energy storage hardware equipment, its products also include the Fluence IQ digital platform to improve the return on investment of renewable energy and energy storage systems.
Mr. Norman Tsai, chairman of Ina Energy Corp., pointed out, “The development of renewable energy is an important indicator direction of Taiwan's energy transformation, not only a business opportunity, a trend, but also an industry consensus in Taiwan. Ina Energy Corp. has always been committed to the development of new energy based on solar energy. We are looking forward to cooperating with Fluence, the world's leading energy storage company.”
As Fluence's first partner in Taiwan, Sheng Quan Lin, chairman of TECO Group's subsidiary YATEC Engineering Corporation, said, “This cooperation will greatly help YATEC Engineering Corporation in establishing energy-saving electromechanical system technology. The global scale and solid industry experience can jointly realize the goal of energy transition in the future.”
In addition to the three parties planning to participate in the power trading platform of Taiwan Power Company, there will be other cooperation projects in energy storage in the future.
※Source : Business Next