TÜV SÜD has been commissioned by IKB Deutsche Industrie Bank AG to perform technical due diligence (TDD) services for the project financing of six large-scale battery systems for energy provider STEAG. These battery systems are designed to smooth out power fluctuations in the grid and support grid stability. Their rollout represented a milestone for Germany’s progress in realising the energy transition.
The six advanced large-scale battery systems for STEAG are based on lithium-ion battery technology. Interconnected via a central control unit, they can compensate for fluctuations in the amount of electricity fed into the national power grid, which primarily result from electricity feed-in from volatile sources such as wind turbines and photovoltaic systems. Each large-scale battery system has a power output of 15 MW, giving a total capacity of over 120 MWh. To date, the primary operating reserve needed to smooth out power fluctuations in the grid has principally been supplied by conventional power stations. The successful use of large-scale battery systems for this purpose is a further milestone along Germany’s road to the energy transition.
The Technical Due Diligence (TDD) services performed by TÜV SÜD included technical feasibility assessment of the contractual terms agreed by the project stakeholders, analysis of the insurance concept and examination of the impact of future regulatory changes to network codes. “Thanks to the information gained from the comprehensive scope of our approach, we were able to furnish IKB Deutsche Industriebank AG with a robust basis for decision-making”, explains Gerhard Klein, Head of Risk Management & Technical Due Diligence at TÜV SÜD Industrie Service GmbH. Klein’s team spanned experts from a wide range of fields, who worked together to contribute their qualified specialist knowledge and long-standing experience to the project. “TÜV SÜD’s strengths are particularly to the fore when it comes to assessment of ground-breaking large-scale pilot projects”, says Klein. “We provide our clients with an integrated perspective of innovative technical systems, and our TDD delivers the robust information they need in order to make critical investment decisions.”
TÜV SÜD has extensive experience in performing due diligence services. In Technical Due Diligence procedures, the company’s experts assess the current value and future viability of technical systems or companies. For more information, visit www.tuv-sud.com/duediligence.
Note for Editors: The photo of Gerhard Klein can be downloaded in printable resolution from the "Media Photos" category at www.tuv-sud.com/pressphotos.
For more information about STEAG’s large-scale battery systems and for photographs, visit http://www.steag-grossbatterie-system.com/en/index.html.
Press-contact: Dr Thomas Oberst