ALTEO Group is an energy service provider and trading company listed on the Hungarian Budapest Stock Exchange since 2010.
The existing power plant, running on three Wärtsilä W34SG engines, is now optimized with an energy storage solution that incorporates GEMS management system from Greensmith Energy, a Wärtsilä company. The installation will enable ALTEO to participate in the electricity market by providing frequency and secondary regulation to the national grid operating in virtual power plant mode.
“The integration of the energy storage system is a huge step in ALTEO’s Virtual Power Plant development and we strongly believe that this technology has opened up new opportunities to successfully respond to upcoming challenges,” said Peter Luczay, Director of wholesale energy trading and virtual power plant management at ALTEO.
GEMS analyzes changes in market conditions and rate structures, effectively "future-proofing" energy storage investments for both power developers and regulated utilities. Ancillary services are a proven application provided by GEMS, generating revenue for ALTEO.
Wärtsilä’s delivery of this energy storage solution included batteries, inverters and power electronics. This energy storage system is fully integrated with the existing power plant using GEMS. The total output of the battery storage plant is 6 MW / 4 MWh.
The order was booked in Q1 2018 and the project was successfully commissioned on the 22nd of August 2018.
