Sumitomo Invests in U.S. Power Storage; Toshiba Supplies Battery

(Bloomberg) — Sumitomo Corp. is investing in the U.S.
power storage business with a system supplied by Toshiba Corp.
to adjust demand and supply.

Sumitomo has acquired Willey Battery Utility from Renewable
Energy Systems Americas, part of the RES Group, the Japanese
company said in a statement Monday. Financial terms weren’t
disclosed.

Toshiba will supply a storage system with a maximum output
of 6 megawatts, providing a supply-demand balancing service for
the frequency regulation market operated by PJM Interconnection
LLC, Sumitomo said. PJM is an operator of power grids in 13
states in the northeastern U.S., according to the statement.

Construction will begin in Hamilton County, Ohio, in April
and operations will begin in December, Sumitomo said. Toshiba
will deliver and maintain the storage system; supplementary
machinery will be supplied and installed by RES.

To contact the reporter on this story:
Chisaki Watanabe in Tokyo at
cwatanabe5@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Iain Wilson, Keith Gosman

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
 
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us