FALCK RENEWABLES WINS 7.5 MW ON TERNA AUCTIONS WITH ULTRA-FAST FREQUENCY REGULATION SERVICE PILOT PROJECT
Milan, Italy, December 15, 2020 – On December 10, Falck Renewables S.p.A. - through its subsidiaries Falck Next S.r.l. for development and Falck Next Energy S.r.l. for dispatching - won 7.5 MW of storage power in the auction for the procurement of the ultra-fast frequency regulation service (Fast Reserve) that allows the participation of batteries in the dispatching services market.
Confirming its role as an enabler for the energy transition, Falck Renewables won the auction, at the allocation price of € 18,800/MW/year, with the project for S.V. Port Service, a company providing services in the ports of Savona and Vado Ligure. The Project involves the installation of an electrochemical storage system near the electrical station that powers the logistics platform of the Savona port.
Fifty-three players for more than 1.3 GW cumulated participated to the procedure, in which Terna awarded about 250 MW of storage power. The MW offered are equal to over 5 times the demanded amount, a sign that the storage technology is mature and the market is interested in projects that will allow more and more resources to contribute to the flexibility and security of the national grid.
"Being protagonists of the energy transition is our mission" - commented Toni Volpe, CEO of Falck Renewables S.p.A. - "for this reason we are active along the entire energy chain and work on the continuous implementation and diversification of our services, also through the participation in projects such as the one proposed by Terna, which allows for the first time storage systems to provide the power grid with the ultra-fast frequency reserve service, another step for the regulation and stability of the grid".
Falck Renewables S.p.A., listed on the Italian stock exchange in the STAR segment (“FKR.MI”) and included in the FTSE Italia Mid Cap Index, develops, designs, builds and manages power production plants from renewable sources, with an installed capacity of 1,196 MW (1,159 MW according to the IFRS 11 reclassification) in the United Kingdom, Italy, United States, Spain, France, Norway and Sweden, using wind power, solar power, WtE and biomass technologies. The Group is a global player in the renewable energy technical advisory and asset management services business, through its wholly owned subsidiary Vector Cuatro, providing asset management services to clients accounting for approximately 2,900 MW of installed capacity and with experience in more than 40 countries. Moreover, Falck Renewables, through Next Solutions Division, provides highly specialized Energy Management, energy efficiency and energy digitalization services to both producers and consumers.
Visit www.falckrenewables.com and connect with us on LinkedIn and Twitter (@falckrenewables).
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