A German-US clean technology company is building a 100-percent renewable energy grid. This energy grid, the first of its kind, is being built for an island in Azores. This software has the ability to balance power fluctuation for a short time such that the sun (solar power) and the wind will provide hundred (100) percent of the island’s electricity.
The battery storage is to be provided by a Lithium-ion technology plant in Germany and according to reports, this will be the first time a one megawatt-scale power system is being stabilised using batteries.
The Chief Executive Officer of Younicos, Stephen L. Prince, said that this technology will both reduce carbon dioxide (CO2) emission and lower energy cost. 50.1% stake in the twenty four million euros Younicos engineering System has been purchased by the Danish Financial Investor Recharge A/S.