Constant Energy and ion Ventures
18th April 2019 – Bangkok
Constant Energy is pleased to announce that it has executed a Memorandum of Understanding with ion Ventures to deploy energy storage alongside its growing portfolio of solar PV plants and onshore wind projects across the Asian region. As a leading business in the deployment and ownership of renewable electricity generation, Constant Energy recognises the importance of enabling projects to operate in harmony with the growing and changing demand for electricity. The inclusion of energy storage in their portfolio increases flexibility to better meet this evolving demand and can be deployed at all levels of the network, such as utility-scale grid connected sites or plants delivering Corporate PPAs, including off-grid situations.
The target is to deploy energy storage as a key component of the portfolio over the next 3 years, systematically identifying the solar PV and wind plants that will deliver the most optimised and resilient generation, allowing the dispatch of electricity to more closely match demand. It is anticipated that considerable co-benefits will be experienced by network utilities and Corporate PPA offtakers. The focus will first and foremost be on Japan, Taiwan, Thailand and other Asian markets, where Constant Energy and ion Ventures are already active, for this strategic approach.
“It is clear that the continuing transition to low carbon emission electricity generation requires energy storage to be increasingly integrated alongside solar PV and wind, and even stand alone as an integral optimisation tool in the grid. As experts in energy storage and optimisation for several years, ion Ventures is ideally suited to leverage their knowledge and extensive experience, alongside the Constant Energy IPP platform, to accelerate this transition while maintaining high levels of operational safety for our assets and I am excited to work with them. This MoU is strengthening our capabilities to comprehensively meet the growing and evolving cleaner energy needs in Asia.” said Franck Constant, CEO of Constant Energy.
Hassen Bali, Co-founder and Director of ion Ventures said: “We are delighted to be collaborating with Constant Energy, benefitting from their impressive track record in renewable energy. By harnessing our collective capabilities, we plan to deliver flexibility at scale as an essential step change in the energy system in the Asian region. The aligned objectives of our organisations and excellent relationship between the teams, paves the way for what we hope will be a successful endeavour, as we contribute to the low carbon transition and long-term energy security and resilience.”
Design of the first solar PV plants to include energy storage has commenced, with a broader pipeline also in development, aiming for initial projects to enter the construction phase in the latter part of this year, with 2020 as the target year for significant deployment.
About Constant Energy
Constant Energy is a renewable electricity generation and storage investment platform which invests in and manages high-quality power assets in selected countries. As a solar developer and Independent Power Producer (IPP), we develop, design, finance, build, own and operate utility-scale and large industrial rooftop-based solar PV power plants. Our team is specialized and experienced, and directly manages its international assets with a long-term outlook. We firmly believe that only a local and active asset management can achieve the targeted return on a long-term basis. For more information, please visit www.constantenergy.net
About ion Ventures
ion Ventures is an international developer, expert adviser and partner for the growth of renewable generation, clean electrification schemes and flexible power infrastructure, centred around energy storage and optimisation. As an experienced team with a demonstrable track record in Europe and Asia, ion Ventures is positioned to advise on and actively participate in the development of commercial solutions and operational assets, optimised to the specific conditions in the energy system, now and anticipated in future. For more information, please visit https://www.ion.ventures/