general electric company and arenko form strategic alliance to build grid scale energy storage systems in the uk - battery energy storage

General Electric Corporation (NYSE:GE)
Arenco Group announced the establishment of a strategic alliance for grid-scale energy storage systems in the UK.
These companies will seek to leverage the advantages of GE battery technology solutions, power electronics and advanced control combined with Arenko's leadership in operating batteries in the UK market and proprietary energy trading software platforms.
Arenko has invested in a 41 MW battery energy storage system offered by GE, which offers a fully integrated battery storage solution.
The project is one of the largest in the UK and the world to provide affordable online
About 100,000 British families need electricity.
The battery storage system is located in a key strategic position in Midland and will be operational in 2018.
Once operational, it will integrate GE and Arenko's advanced control technologies and conduct commercial operations through Arenko's software to deploy energy digitally and access multiple service and system requirements.
The reliability and performance of the battery system will be supported and protected by GE for a long timeterm support.
The project will ease the pressure on the UK energy system and provide flexibility when it is most necessary to provide more balanced flexibility, ensure the safety of the energy system and contribute to reducing the energy costs of UK consumers.
The focus is on establishing long-term commercial sustainable battery storage systems that do not rely on subsidies and incentives.
Changing consumer demand, the continued adoption of renewable energy and the security of supply have driven demand for innovative energy networks to deliver more efficient power systems.
As traditional centralized power generation is under increasing pressure, energy storage projects such as those announced by Arenko and GE today are critical to maximizing power generation capacity and ensuring efficient use of energy, improve the efficiency of power grid operation.
Mirko Molinari, head of global business and marketing at GE Power energy storage, commented: "energy storage will help close to real-time balance of supply and demand, avoid frequency drift and support mid-market
Terminology for dealing with grid imbalances.
The flexibility it provides smoothing the volatile nature of renewable energy, providing fast reserves when needed, storing excess energy for power generation, and more.
Energy storage will provide consumers with more reliable power supply and more efficient systems.
"Arenko is a pioneer in the commercialisation of energy storage systems: This collaboration has consolidated a two-year collaboration to achieve a shared vision of creating a battery storage solution
The changing demands of modern energy systems.
Rupert Newland, chief executive of Arenko Group, commented: "Arenko's new battery system will provide much-needed flexibility for the UK grid, reduce waste and help families and businesses reduce energy costs.
This project is very important to solve the long-term problems in the UK.
Energy security issues, to achieve the transition to the future of low-carbon energy.
"As the leading owner and operator of the UK grid-scale battery system, we are pleased to have established this strategic alliance with GE to deliver large-scale battery energy storage projects.
We have the same attention and commitment to the industry, and GE's world-class technology and energy storage system projects around the world have impressed us.
"This is a testament to Arenko's strategy of working with top-tier businesses that will have a significant, positive and sustainable impact on the energy sector.
We focus on solving this complex but exciting business opportunity and helping build the future of the UK's energy system.
"GE has been investing in grid-scale battery storage technology since 2010.
Founded in 2014, Arenko aims to provide large-scale energy storage solutions and has chosen GE, which has a strong reputation for reliability in repeatable and well-referenced designs.
The first project to work with Arenko will be GE's commercial battery energy storage solution in the world's 19 largest power grids.
GE shares fell 0. 58% to $15. 55 in pre-
Market trading on MondayGE has a 1-
The highest $30 a year. 59 and a 1-$15 a year low. 60. The stock's 50-
The average daily moving price is $17. 33 and its 200-
The average daily moving price is $21. 32.
In terms of ratings, GE shares are the subject of some recent research reports.
Stifel nicolanalyst analyst Robert McCarthy maintained a hold rating on GE in a report released in January 30, with a price target of $17, which represents a potential 9% increase in the stock's current trading.
Similarly, in January 29, Credit Suisse's Julian Mitchell maintained the stock's holding rating and set a price target of $16.
According to the prank
Com ranked more than 7,500 financial analysts and bloggers to measure how well they had suggested in the past, with an annual average return of 16 for Robert McCarthy and Julian Mitchell. 3% and 12. 5% respectively.
McCarthy's success rate was 82%, 190 out of 4745 analysts, while Mitchell's success rate was 71% and 280.