New research, recently published by S&P Global Ratings, identifies energy storage as “the final piece in the global energy transition puzzle”. Lead analyst of the report, Michael Wilkins, managing director of infrastructure finance and head of environmental and climate research, suggests that energy storage technology is a key component of the global shift to increased renewable power capacity, as it allows for the inevitable peaks and troughs in electricity generation from wind and solar power – which, by nature, are exposed to fluctuations in resource availability.
The recent acquisition of battery production company, Saft, by French energy giant, Total, highlights the growing awareness of the importance of storage. The largest deal of its kind – worth €950 million ($1.1 billion) – Total’s bid represents a sign of greater things to come, according to Wilkins. But as investments in the sector rise, an awareness of the financing and project risks is crucial, he warns.
A targeted campaign by Moorgate ensured news of S&P’s research was picked up across the specialist energy and financial press, including Bloomberg, Business Green (paywall), Renewable Energy Installer, Renewable Energy World, What Power (in Italian) and Expansión (in Spanish).