Finnish power conglomerate Wartsila, has announced its entry into the Indian energy storage market.
The acquisition of Greensmith Energy Management Systems, a developer of grid-scale energy storage software and integrated solutions, by Wartsila Energy Solutions has enabled the company to provide both stand-alone energy storage as well as hybridized energy systems, control software and integration expertise. Wartsila plans to offer the same to the Indian power markets.
Wartsila acquired Greensmith Energy Management Systems in May this year. Wartsila through its entry into the India power markets is targeting peak energy shortage as well as grid management. Grid integration is a challenge in India with increasing amount of renewable energy added to the grid.
“With growth in solar installations slowing as we move into 2018 due to many challenges the sector faces, renewable companies are looking at the next big thing which is energy storage and electric vehicles. You can expect many companies foraying into these two areas over the next several months,” said Raj Prabhu, CEO of Mercom Capital Group.
“We are very excited to be able to introduce these new solutions to our customers in India. Adding energy storage technology enables customers to have instant power while saving fuel and maintenance costs. The growing capacity of renewable generation, including solar PV, becomes more sustainable and attractive when integrated with advanced energy storage,” said Mr. Javier Cavada Camino, President, Energy Solutions, and Executive Vice-President of Wartsila Corporation.
“Wartsila energy storage solutions will significantly improve efficiency by increasing back-up capacity and creating new opportunities in electricity markets. Energy storage has become an integral part of every power system, with features like frequency support and reserves, peak demand management, demand charge reduction (C&I) and energy shifting. Customer benefits include peak demand management, C&I, electricity market opportunities and back-up capacity,” said Mr. Neeraj Sharma, President & Managing Director, Wartsila India Pvt. Ltd.
Image credit: Wartsila
Wendy is a co-founder of Mercom Capital Group, the parent company of Mercom India. Wendy is a contributing editor at MercomIndia.com and is responsible for content quality across the company and products. She has over 15 years of business and finance experience in the energy and technology markets. In addition to Mercom, Wendy has written for many other clean energy-focused blogs and publications. More articles from Wendy Prabhu.