Oct 4 2012
Altair Nanotechnologies Inc. (Altairnano) (NASDAQ: ALTI) today announced it had been selected by Uriel Renewables Inc. and Coqui Power LLC, a joint development effort for the deployment of solar photovoltaic projects in Puerto Rico, together with TSK Solar, a leading energy EPC contractor and engineering firm, to provide an advanced battery energy storage system for a renewable integration project at the San Fermin 26 MW photovoltaic solar farm in Loiza, Puerto Rico.
Altairnano will provide a 2 megawatt (MW) ALTI-ESS Advantage advanced energy storage system to provide frequency regulation and ramp-rate control. The system will satisfy the technical requirements established by the Puerto Rico Electric Power Authority (PREPA). Altairnano will deliver, install and commission the system before Dec. 31, 2012.
The ALTI-ESS Advantage is Altairnano's newest product for the electric grid market. Building upon the success of its 1 MW ALTI-ESS, the Advantage system provides twice as much power in a container almost 25 percent smaller, and can achieve peak power of 3.6 MW. The batteries are housed in a standard forty (40) foot container that also includes fire safety, heating and cooling, and computer systems necessary to safely and economically operate the system. Using Altairnano's proprietary nano-lithium-titanate chemistry, the batteries are able to last four to six times longer than competitive products, while providing the high-power rapid charging capabilities that are required for frequency regulation. The Advantage was engineered from the ground up to cost significantly less than the product it replaced, creating compelling economic advantages for a diverse range of electric grid applications.
The ALTI-ESS Advantage will provide ramp-rate control for smoothing the power fluctuations associated with photovoltaic applications in addition to frequency regulation required by PREPA.
"It is exciting to work for this project in Puerto Rico with global energy developer Uriel Renewables and its local partner Coqui Power," said Alexander Lee, Altairnano CEO. "Puerto Rico is rapidly expanding the use of photovoltaic and wind power to meet their energy needs, and the ALTI-ESS Advantage is a terrific product for these installations. TSK Solar brings the engineering and technical capabilities necessary to make this a successful project," added Lee.