Aug. 5 (Bloomberg) -- Renewable Energy Systems Ltd.’s Canadian unit completed a 4-megawatt energy storage system with batteries made by China’s BYD Co. designed to boost the reliability of Ontario’s power grid.
The Amphora project in Strathroy, west of London, Ontario, will balance temporary fluctuations in electricity for grid manager Independent Electricity System Operator under a three-year agreement, Renewable Energy Systems said today in a statement.
It’s the second storage system for Renewable Energy Systems after a 4-megawatt project in Ohio that was completed in March. The global market for energy storage is expected to grow to $2.5 billion by 2023 from $164 million, according to Navigant Consulting Inc.
The BYD lithium iron phosphate batteries consist of two, 20-ton containers on a site provided by regional utility Entegrus Inc.
To contact the reporter on this story: Ehren Goossens in New York at email@example.com
To contact the editors responsible for this story: Reed Landberg at firstname.lastname@example.org Jim Efstathiou Jr., Will Wade