ENERGY STORAGE

VW Group’s Elli to enter German large-scale stationary storage market

June 10, 2024

Volkswagen Group company Elli is to enter the industrial energy storage sector and build and operate large-scale stationary storage systems.

Volkswagen said Elli’s energy storage systems will be used to “supply customers and for arbitrage transactions”

First Elli battery storage projects “could be set up as early as next year,” a Volkswagen statement said.

The largest projects in the Elli project pipeline have a capacity of up to 350 MW and a storage capacity of 700 MWh. “Such projects would almost double the total storage capacity installed in Germany, which currently amounts around 1 GWh”, the statement added.

Volkswagen group board member for technology Thomas Schmall, said: “Germany and Europe need sufficient storage solutions to meet the increasing demand and to compensate for the volatile feed-in of renewable energies. Our investment in stationary battery storage systems is therefore a significant contribution to the sustainable transformation of the energy supply.”

Volkswagen said that, in 2023 alone, around 10,500 GWh of renewable electricity in Germany was lost due to a lack of “intermediate storage options.” This amount of electricity would have been enough to power more than 3.2 million electric vehicles with electricity from renewable sources for a year, according to the company.

Giovanni Palazzo, CEO of Elli, commented: “We see high financial potential in this business area and the opportunity to develop Elli into a holistic energy provider in Europe.”