Recently, global green technology leader Far East Energy and European renewable energy developer GoldenPeaks Capital (GPC) officially signed a memorandum of understanding to finalize a supply and deployment agreement for a 1GWh battery energy storage system (BESS). The landing of this order not only marks a key breakthrough in Far East Energy's layout in the European energy storage market, but also demonstrates the international competitiveness of China's energy storage technology.

This cooperation is supported by the core technology of the eighth generation battery energy storage system for the next generation of public utilities of Yuanjing Energy. This system has the advantage of high energy density and can quickly respond to intermittent fluctuations of renewable energy sources such as wind power and photovoltaics, effectively enhancing the flexibility and stability of grid level systems and providing key technical support for Europe's energy transition. According to the agreement plan, the cooperation has entered the substantive implementation stage. The first two projects have been clearly handed over to Far East Energy for execution, with a total capacity of 344MWh, and both have obtained long-term capacity market contract guarantees, laying a solid foundation for project implementation.

From the perspective of layout scope, this energy storage project will build a large-scale energy storage network spanning multiple regions in Europe. The initial project will be first implemented in Poland, gradually expanding to Germany, Hungary, and extending to southern European countries such as Italy and Greece, ultimately forming a 1GWh energy storage corridor covering central and eastern Europe and southern Europe. The choice of this layout path is not accidental - GPC, as one of the largest independent renewable energy producers in Central and Eastern Europe, has won a 2.5GWh energy storage project in Poland and has deep resource accumulation and landing capabilities in the regional market. The cooperation between the two parties will accelerate the scale of the project.

It is worth noting that this order is an important achievement of Far Eastern Energy's deep cultivation of the European market. Previously, Far East Energy had reached a cooperation agreement with renewable energy producer Kallista Energy in France, winning a 120MW/240MWh energy storage order to provide frequency regulation services for French transmission system operators; We also won a 50MWh energy storage project through competitive bidding in the UK and participated in local capacity market operations. The achievement of this 1GWh order further consolidates its leading position in the European energy storage market and confirms the high recognition of Chinese energy storage technology and services in the European market.

At present, the European energy storage market is in a period of accelerated expansion, and the newly installed capacity of regional energy storage is expected to exceed 28GWh by 2025, with grid connected capacity expected to achieve a year-on-year growth of over 60%. Driven by the dual demands of energy transformation and grid upgrading, Far East Energy will take this order as an opportunity to continue exporting advanced energy storage technology and long-term operation and maintenance services. For example, the 14 year long-term maintenance agreement model promised in the French project has formed mature experience and may be replicated and promoted to more European projects in the future.

This cooperation is not only a win-win choice between enterprises, but also has demonstrative significance for the global energy transformation. Through technological innovation and cross-border collaboration, Far East Energy is helping Europe gradually break away from its dependence on fossil fuels, build a more reliable and clean energy system, and inject practical impetus into achieving the global "dual carbon" goal.Editor/Bian Wenjun