Under the terms of the agreement the groups would combine their expertise to design and propose energy-storage solutions that guaranteed the reliability of electrical grids for isolated sites and areas where access to power was limited.
“This agreement will create a robust commercial partnership for deploying an innovative solution in energystorage,” Schneider Electric energy business executive VP Frédéric Abbal commented.
As part of the partnership Areva would provide itsGreenergy Box energy storage solution, made with an electrolyser and fuel cell, that is used to store hydrogen and oxygen from water electrolysis during periods of low energy demand to produce electricity during peak consumption periods.
Meanwhile, the signature of this agreement with Arevawould enable Schneider Electric to achieve grid parity for renewable energies while managing its intermittency and improving the efficiency of the network connection, strengthening its position to connect to all smart grid players.
“This agreement will allow Areva and Schneider Electric to combine their experience, knowledge and achievements in energy management and storage. It will also place both companies as first-of-its-kind players in this promising market,” Arevarenewables CEO Louis-François Durret said.