There's a new EU-backed Energy Storage Player in Town

Really encouraging development from the EU here, as their investment arm EIT InnoEnergy launched their own Energy Storage platform, Repono, for owning and operating storage assets.

We all know the need for increased capacity of Energy Storage deployments across Europe and so far we've been reliant on large private funds and infrastructure companies to drive this growth. This new platform, with public backing from the EU and major shareholders such as Schneider Electric, Stena, and E.Leclerc, is an impressive new player. 

Repono aim to reach 100GWh by 2030, and plan to enter Wholesale (short-term spot) and Balancing markets but also will push for integration of ESS into PPAs between IPPs and large industrials, accelerating the shift to 24/7 carbon free electricity (check out the work of Hyperion client FlexiDAO in the 24/7 CFE space)

What is very exciting is the advantage Repono will have in terms of access to supply chain partners, via the vast EIT InnoEnergy network in Batteries (45+ investments and over 800 members). One of the challenges for many developers has been securing the right suppliers and optimisation partners, but hopefully this access will expedite deployment opportunities. Additionally, there should be close alignment with EU and EU state regulators and policymakers which may smooth over some of the current bottlenecks we see today.

At a time when Energy Storage markets are ripening across Europe, but still face some deployment challenges, having an exciting new player out of EIT InnoEnergy could be a big step!

Hyperion Executive Search supports Energy Storage and Grid, and wider cleantech companies to recruit top senior and executive talent (many of which are backed by EIT InnoEnergy). We're passionate about accelerating the energy transition and if you're looking to scale your business, then contact me at david.beeston@hyperionsearch.com