Russia’s Rosatom launches energy storage business

October 9 (Renewables Now) – Russian state-controlled nuclear energy corporation Rosatom has set up a new subsidiary, Renera, to venture into the energy storage business.

Renera is incorporated under the umbrella of Rosatom’s nuclear fuel producer TVEL Fuel Company, said the nuclear giant on Thursday.

The new company will make module type lithium-ion traction batteries for electric vehicles (EVs), energy storage systems for emergency power supply, renewables and smoothing of load demand.

Renera has inherited a portfolio of more than 120 ongoing and finalised projects for the supply of lithium-ion storage units thanks to contracts racked by TVEL’s other enterprises.

“We offer a comprehensive solution for our customers, from a feasibility study to installation of equipment and post-warranty service. We are committed to comply with individual customer requirements for technical specifications and offer flexible commercial conditions. We already accomplish projects under a rent scheme and plan to start leasing and life cycle agreements”, said Renera director general Emin Askerov.

Rosatom is already present in the renewable energy space through its dedicated wind power unit NovaWind JSC, with  plans to install 1 GW of wind farms by 2023.