August energy storage project planning

Who is August energy?

August Energy is a developer and long-term owner of energy infrastructure assets, helping corporates to meet their decarbonisation goals, profitably, and at scale. We provide a comprehensive set of proven and customised energy solutions as a service including renewable energy, energy storage, cooling, heat recovery, and bioenergy.

What is the advancing contracting in Energy Storage Working Group?

The Advancing Contracting in Energy Storage (ACES) Working Group is an independent industry led and funded effort founded to develop a best practice guide for the energy storage project development community.

What is the best practice guide for energy storage projects?

This Best Practice Guide covers eight key aspect areas of an energy storage project proposal. This Guide documents the industry expertise of leading firms, covering the different project components to help reduce the internal cost of project development and financing for both project developers and investors.

Why do we need energy storage systems?

The variability associated with the RE sources leads to issues as grid balancing creating a need for flexibility. In this context, Energy Storage Systems (ESS) can be used for storing energy available from RE sources to be used at other times of the day.

What is the energy storage capacity requirement in 2023?

Central Electricity Authority (CEA), while preparing the National Electricity Plan (NEP), 2023 has also calculated the ESS capacity required to integrate the upcoming Renewable Energy capacity in the country in order to satisfy the peak electricity demand. 3.2. As per NEP2023 the energy storage capacity requirement is projected to be 16.13 GW

Why do we need Viability Gap Funding for battery energy storage systems?

Viability Gap Funding for Battery Energy Storage Systems For establishment of BESS projects, costs are a challenge in the initial years because the volumes are low. Therefore, Viability Gap Funding becomes essential for supporting initial uptake of BESS by consumers.