O2 Power, US-based Powin form JV for energy storage solutions in India

O2 Power, a Gurugram-based renewable energy producer, and Powin, a US-based battery energy storage firm, on Friday said they have signed a memorandum of understanding to provide battery storage solutions for the Indian renewable energy market.

According to the official press release, Powin will be responsible for the delivery and commissioning of the battery energy storage systems, while O2 Power will provide full EPC services for the projects they are developing.

Peeyush Mohit, founder and chief operating officer, O2 Power said that batteries will play a key role in balancing a grid that has such large volumes of renewable energy capacity.

“We see a big opportunity in providing battery integrated solutions to power utilities as well as commercial and industrial customers desiring round-the-clock power. Powin is a global leader in large-scale energy storage solutions and by joining hands with them, we intend to bring reliable and cost-effective storage solutions to the Indian market,” he added.

O2 Power has won about 1.8 GW of projects across a diverse portfolio and aims to become a key player in the design and build of standalone storage systems and renewable energy integrated storage systems.

“We are delighted to enter the Indian market with O2 Power. India represents one of the fastest-growing energy markets in the world… We look forward to supporting O2 Power’s growth in offering energy storage solutions,” said Anthony Carroll, chief revenue officer, Powin Energy.

With this agreement, Powin has marked its entry into the India market. Under this, Powin will supply O2 Power with its advanced Stacks product lines including Centipede BESS hardware platform and StackOS software platform.