1. BW ESS partners with local developers in global markets to invest in battery energy storage projects.
2. The company has entered the energy storage space in the UK, Sweden, Italy, and Australia.
3. BW ESS focuses on efficient pricing through relationships with Tier 1 BESS suppliers and utilizes the wider BW Group for financing and resources.
BW ESS, a small outfit in the global market, works by combining the strength and expertise of BW as an energy infrastructure investor with local partners who understand local markets. They invest in battery energy storage system (BESS) projects, entering the space with investments in companies like Penso Power in the UK, Ingrid Capacity in Sweden, ACL Energy in Italy, and Valent Energy in Australia. By partnering with local developers, they leverage local knowledge and expertise.
The discussion focuses on opportunities in Sweden and Italy, two upcoming energy storage markets in Europe. BW ESS follows different approaches in each market, with Sweden being an ancillary services market similar to the UK five years ago, while Italy offers a deeper and larger business case with more opportunities. The company procures efficient pricing from BESS suppliers through long-standing relationships and scaled procurement.
BW ESS leverages the wider BW Group for finance, using their strong relationships with banks and experience in the industry to secure financing for projects in different markets. In Sweden, the company plans to use its own equity before financing projects post-commercial operation, while in Australia, they are moving toward merchant financing. The company plans to participate in the upcoming Energy Storage Summit Asia hosted by Solar Media in Singapore to engage with stakeholders in the energy storage industry.