The European Union's innovation and investment arm, EIT InnoEnergy, has taken a significant step towards bolstering renewable energy integration with the launch of Repono, a pioneering energy storage platform. Repono sets its sights on capturing a 10% market share of the anticipated 1TWh market by 2030, aiming to alleviate stress on the EU electricity system caused by the rapid deployment of intermittent renewables.
Repono's founding shareholders include prominent entities such as Schneider Electric, SIPLEC E.Leclerc, Stena Metall, Boryszew Group, and NTM GmbH. The platform, led by former BatteryLoop CEO Rasmus Bergstrom, has already acquired operational energy storage systems in the Nordics, positioning itself strategically in the market.
With a focus on short-term spot markets, balancing services, and integration into power purchase agreements, Repono aims to ensure grid stability and facilitate a reliable, decarbonized electricity supply. Diego Pavia, CEO of EIT InnoEnergy, highlights Repono's access to a vast network of investments and partnerships within the energy storage sector, offering a robust foundation for rapid replication of projects across Europe.
As part of the EU's broader goal to achieve 42.5% renewable energy by 2030, Repono emerges as a pivotal player in realizing this ambition. The platform is set to play a crucial role in overcoming challenges faced by various EU countries in deploying grid-scale energy storage, ultimately contributing to the acceleration of the energy and industrial transition.
Source: EIT InnoEnergy