Sumitomo Corporation Invests in Battery Energy Storage Project to Help Balance Electricity Grid Serving Northeastern U.S.
NEW YORK, April 21, 2015 /PRNewswire/ — Sumitomo Corporation together with Sumitomo Corporation of Americas (collectively “Sumitomo Corporation Group”) announced their investment in an innovative battery power storage system which will provide a reliable and stable supply-demand balancing service for the frequency regulation market operated by PJM, the largest regional transmission organization of wholesale electricity in the U.S.
Sumitomo acquired an interest in Willey Battery Utility, LLC (WBU) from Renewable Energy Systems Americas (“RES”), the U.S. renewable energy developer/constructor, through Perennial Power Holdings, a U.S.-based subsidiary of the Sumitomo Corporation Group. WBU will own this battery energy storage system (maximum output: 6 MW, energy capacity: 2 MWh) manufactured by Toshiba Corporation. This is the Company’s first investment in a large-scale stand-alone battery storage facility in the United States.