AEC delivers energy storage insights to leading Latin American utility
The Advanced Energy Centre (AEC) at MaRS is excited to announce its recent engagement with the multinational electricity utility Celsia. In partnership with consultancy firm Clean Horizon, the AEC will deliver insights on energy storage development in Latin America, highlighting potential business opportunities for Celsia to pursue in these markets. The goal of this engagement is to guide the utility to a greater understanding of the available business models for energy storage development across the electricity system (transmission, distribution, generation and behind the meter), and their applications in Latin American markets.
With the increasing penetration of renewables in these countries, the scale of the energy storage opportunity there is coming to the fore. According to Ren21’s Global Status Report on Renewables, Latin America remained one of the fastest growing markets for wind energy and solar PV in 2015. As Latin American countries adopt more and more renewable technologies, there are opportunities in ancillary services, transmission and distribution investment deferral, microgrid solutions, and more. This rapid growth of renewable generation capacity is challenging current utility business models, but also creating substantial investment potential for energy storage.
The AEC’s mission is to foster the adoption of innovative energy technologies. It has developed a framework for tackling the key barriers that inhibit the successful adoption of these technologies, and is bringing this knowledge and experience to this engagement with Celsia. The AEC will help Celsia identify and analyze the technological, regulatory, economic and environmental factors affecting the viability of potential energy storage projects in these markets. Learnings will be drawn from deployed projects, regulatory models and financing alternatives from around the world.
Celsia is one of Colombia’s leading utilities, holding a total generation capacity of almost 2.4GW in 27 plants located in Colombia, Panama and Costa Rica. It is the fourth largest power producer in Colombia, the second largest in Panama, and the fifth largest in Costa Rica. Its strategy is one of seeking out innovative technologies and business models and implementing them in energy markets across North America.
The Advanced Energy Centre is a public private partnership, founded in February 2014. The Advanced Energy Centre’s mission is to foster the adoption of innovative energy technologies in Ontario and Canada, and to leverage those successes and experiences into international markets. Recognizing the difficulty of adopting innovation in a highly regulated energy sector, the AEC works through its network key sector players to enact change. Using strategic programming to overcome the systemic barriers to market entry, scale-up and export, the AEC is a catalyst for the adoption of leading edge energy technologies.