Africa: With increased power must come increased storage capacity
By Kieran Whyte, Partner, Head of the Energy. Mining & Infrastructure Industry Group, Baker McKenzie Johannesburg
The increased generation of renewable power requires increased energy storage capacity. According to Baker McKenzie's Report - Battery Storage: A Global Enabler of the Energy Transition, lithium-ion batteries take up the majority of new energy storage capacity, both installed and under construction, with older battery technologies being replaced or retained only for smaller projects. However, with costs declining, private investors are entering the market and bringing new business models to commercialize the technologies. Governments of countries with a high share of renewable energy, or looking to facilitate development of the same, have seen the need to support energy st...