PARIS & MILAN--(BUSINESS WIRE)--Regulatory News:
Electro Power Systems S.A. (“EPS”) (Paris:EPS), a technology pioneer in energy-storage systems and microgrids listed on the French-regulated market Euronext Paris (EPS:FP), announces the commissioning of the new system microgrid connected in Flinders Island, northeast of Tasmania, will start in Q1 2017.
EPS, in partnership with Toshiba, realized a hybrid storage system sired to Flinders Island’s microgrid for Hydro Tasmania, Australia’s largest producer of renewable energy. The utility is developing the “Flinders Island Hybrid Energy Hub” project that aims to increase the use of renewable energy on the island and dramatically reduce the use of fossil fuels, which so far have been the only electrical energy source on the island.
The project, thanks to the EPS system, which combines renewables and energy storage, is intended to provide up to 65% of the island’s annual energy demand, significantly reducing CO2 emissions and the consumption of diesel fuel by more than 60%.
The microgrid has an installed capacity of 3MW that will provide, despite the critical weather conditions to which the island is exposed, stable renewable energy to approximately 900 people and it will be hybridized with 0.5 MWp of solar and 0.5 MWh of storage system manufactured by EPS, combined with 2.0 MVA of generators. The project does also contemplate the integration with wind energy.
With the assistance of the Australian Renewable Energy Agency and the Tasmanian Government, the project was developed along the lines of the successful “King Island Renewable Energy Integration Project (KIREIP)”, which covers 100% of King Island’s power needs from renewable sources.
About Electro Power Systems
Electro Power Systems (“EPS”) operates in the sustainable energy sector, specializing in hybrid-storage solutions and microgrids that enable intermittent renewable sources to be transformed into a stable power source.
Listed on the French-regulated market Euronext, EPS is part of the CAC® Mid & Small and the CAC® All-Tradable indices and has registered offices in Paris and research, development, and manufacturing in Italy.
Thanks to technology covered by 125 patents and applications combined with more than 10 years of R&D, EPS has developed hybrid energy storage solutions to stabilize electrical grids heavily penetrated by renewable sources in developed countries and in emerging economies, to power off-grid areas at a lower cost than fossil fuels without the need for subsidy or incentive schemes.
EPS has either installed or under commissioning in aggregate 36 large-scale projects, including off-grid hybrid systems powered by renewables and energy storage, totalizing that total more than over 35 MW of installed power and provide energy to more than 160,000 customers daily. In addition to more than 18 MW of grid-support systems, for a total capacity output of 47 MWh and 25 MW of systems in 21 countries worldwide, including Europe, Latin America, Asia and Africa.
For more information, visit www.electropowersystems.com.