CORSICA SOLE is building Europe’s largest energy storage plant in Belgium
Press releases
Scheduled to come online in summer 2022, the 100 MWh storage plant will contribute to the stability of the European electricity grid.
Paris, 22 March 2022 – CORSICA SOLE, a French solar energy producer and leader in energy storage in France, is building a 100 MWh storage plant in Belgium. Initially, it was InnoVent, a wind and solar developer based in Villeneuve d’Ascq, that developed the project by conducting the initial studies and managing the purchase of the land, obtaining the building permit and ordering the batteries and various lots.
Against a backdrop of strong growth in renewable energies, particularly photovoltaics, across all European Union countries, energy storage has now become a strategic issue for energy transition and energy independence. It helps to stabilise electricity grids by ensuring a balance between production and consumption without the need for oil or gas-fired backup power stations.
Scheduled to come on stream in summer 2022, the plant built by CORSICA SOLE, consisting entirely of lithium-ion batteries, will regulate the frequency of the European electricity transmission network. In the event of an increase or decrease in the frequency of the network, the plant will have 30 seconds to counterbalance the variations by storing or releasing electricity (primary and secondary reserve).
A pioneer in energy storage in France, CORSICA SOLE has been operating this type of power plant on French islands since 2015. This project is an important step forward in the development of electricity storage solutions in Europe. We financed this project with our shareholder Mirova Energy Transition 5 without resorting to any public subsidies. By demonstrating that large-scale battery deployment is economically viable, we are proving that we can build a world based on renewable energies coupled with energy storage. With this project, CORSICA SOLE is scaling up and becoming one of the European leaders in the sector.
CORSICA SOLE’s ambitions are not limited to this power plant: the company also plans to commission 200 MWh of new battery projects in France by 2023.
MIROVA ENERGY TRANSITION is a French limited partnership (SLP) open to subscription by eligible investors as defined in its regulations. Mirova is the management company. This fund is not subject to approval by a supervisory authority. Risk of capital loss, market risk, industrial and public counterparty risk, credit risk, liquidity risk, project risk, operational risk, compliance risk, legal and regulatory risk, financial risk, electricity network risk, valuation risk, transaction flow risk.
