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Russian nuclear giant Rosatom enters storage business

Rosatom State Nuclear Energy Corp. (Rosatom) is entering the energy storage business through its TVEL Fuel Company (TVEL) unit, which has set up a dedicated subsidiary, Renera.

The new company will produce module type lithium-ion traction batteries for electric vehicles, as well as energy storage systems for emergency power supplies, renewable energy resources, and the smoothing of load demand, TVEL stated.

Our enterprises have had some experience in developing energy storage products, and since 2018,” a company spokesperson told pv magazine. “But now a special-purpose company is finally incorporated to develop this business systematically.

“We are committed to comply with individual customer requirements for technical specifications and offer flexible commercial conditions,” said Renera General Director Emin Askerov. “We already accomplish projects under a rent scheme and plan to start leasing and life cycle agreements.”

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Rosatom is already operating in the renewable energy sector via its NovaWind unit, which mostly focuses on the wind power business.

We have an R&D center which is capable to develop energy storage solutions as for grids and substations, as well as for renewable energy sources, including both wind and solar,” the spokesperson said.

The Russian state-owned conglomerate’s nuclear power plants currently cover around 20% of Russia’s total electricity demand.

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Source: pv magazine