EDF buys Pivot Power in battery storage and EV charging advance
EDF Group has acquired battery storage and EV charging specialist Pivot Power for an undisclosed amount, furthering its work in both areas.
The British start-up is now a wholly owned subsidiary of EDF Renewables and will continue its plans to install 50MW batteries at some 45 electricity sub stations across the UK under a £1.6bn (€1.4bn) programme. The project will provide a 2GW battery network that will help National Grid manage supply and demand, releasing or absorbing power in response to grid balancing requirements; currently the UK has 500MW of grid-scale battery storage.
The first two storage projects at Kemsley (Kent) and Cowley (Oxford) are expected to be commissioned in 2020.
The work includes the development of a private wire infrastructure to enable the development of mass rapid charging points across the UK while also decarbonising household and industrial heating.
For EDF, the acquisition supports its Electricity Storage Plan announced in May 2018, which sets out the goal to develop 10GW of additional storage around the world by 2035, on top of the 5GW already operated by the group, under an €8bn (£6.9bn) investment.
The acquisition is also in line with the EDF Electric Mobility Plan, to become the leading electric mobility company by 2022 in the UK, France, Italy and Belgium. From 2022 onwards, the group’s goal is to provide power for 600,000 electric vehicles and providing 75,000 charging points. Recent projects in the UK have seen it team up with Nissan to offer a new package that combines electric vehicles with vehicle-to-grid (V2G) charging solutions and services.
Bruno Bensasson, EDF Group’s senior executive vice president, renewable energies and chairman & CEO of EDF Renewables, said: “Following PowerFlex Systems recent acquisition in the United States, this new acquisition of smart electricity storage and electric vehicle charging systems player is strengthening our expertise globally. Thanks to the skills developed within this specific field of electricity, the Pivot Power team will be a great addition to EDF. This is another positive step in the rollout of the Group’s Electricity Storage and Mobility Plans.”
Matt Allen, co-founder and CEO of Pivot Power, added: “Pivot Power’s purpose from the start has always been to accelerate the UK’s transition to a cost-effective, reliable, low-carbon energy system and in parallel fast-track the rapid adoption of clean transport. EDF Renewables shares our vision and of course brings the expertise, resources and platform to make this a reality.”