Rosatom Group Building Energy Storage Portfolio
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Russia’s state-owned nuclear power company Rosatom continues to diversify, as one of the group’s subsidiaries has acquired a major stake in a South Korean manufacturer of energy storage products.
RENERA LLC, which is Rosatom’s integrator company for the energy storage business, and also a subsidiary of TVEL Fuel Company of Rosatom, on March 5 announced it has finalized the deal to acquire a 49% share of Enertech International. Enertech makes electrodes, lithium-ion storage cells, and energy storage systems.
The agreement also includes the opportunity for RENERA to build a manufacturing facility for lithium-ion cells and energy storage systems in Russia, with at least 2 GWh of production capacity by 2030. The plan is for that facility to begin production in 2025. Rosatom on Friday said the lithium-ion batteries made in Russia are earmarked for use in electric vehicles (EVs), in what it called “special equipment,” and for battery energy storage systems (BESS) attached to the power grid.…