- CPS Energy, OCI Solar Power, and Hyundai Motor Group to develop an energy storage system (ESS) from recycled electric vehicle (EV) batteries, to be built by September 2022
- All three parties will sign a memorandum of understanding (MOU) during today
OCI Solar Power, one of the largest utility-scale solar energy developers in Texas, CPS Energy, the nation’s largest municipally-owned, fully-integrated electric and natural gas utility, and the Hyundai Motor Group, a South Korean multinational mobility manufacturer that includes Hyundai Motor Company and Kia Corporation, signed a Memorandum of Understanding (MOU) to test recycled electric vehicle (EV) batteries for solar energy storage.
By September 2022, the parties plan to install the energy storage system (ESS), developed by Hyundai Motor Group. OCI Solar Power will procure certain ESS components and supervise construction while CPS Energy will operate the ESS. All three parties will work to build the ESS and then analyze and share data from the project.
After 7-10 years, a lithium-ion battery used in an EV may no longer be as efficient as needed for that use. However, that same battery may be recycled in an energy storage application and provide valuable energy storage. This partnership is a major step in testing this technology.
CPS Energy has been a visionary leader for solar projects in Texas. And now, nearly 10 years after we began developing solar and storage solutions in Texas, we are stepping up our green-energy game. This new collaboration among Hyundai Motor Group, CPS Energy, and OCI Solar Power, will make us one of the first to study the performance and cost benefits of redeploying EV batteries. We’re proud to have South Korea-based Hyundai Motor Group choose CPS Energy and San Antonio for this project. It speaks to all of our cooperation and commitment to innovation, renewable energy, and energy efficiency in the Alamo City.
Today, we are taking a very important step in advancing our technology in regards to battery storage, thanks to this new collaboration with OCI Solar Power and the Hyundai Motor Group. Evaluating these innovative technologies is key to discovering the next firming capacity that would be needed to replace fossil fuels. The fact that Hyundai Motor chose the Alamo City to test this storage project speaks volumes to San Antonio’s commitment to reducing emissions through innovative technology.
Hyundai Motor Group will verify the possibilities and effectiveness of the ESS business in the North American market through this partnership. The Group plans to expand its energy solution business via grafting hydrogen energy to the battery system, and provide flexibility against energy volatility in the US electricity market.
Representatives in the event
Hyundai Motor Group
Jae Hyuk Oh, Vice President, Energy Business Development Group
Hyunwoo Noh, Senior Research Engineer, ESS Business Development Team
Fred Bonewell, Chief Operating Officer
Frank Almaraz, Chief Power, Sustainability & Business Development Officer
Jonathan Tijerina, Sr. Director, Business & Economic Development
Simon Castillo, Business & Economic Development Manager
OCI Solar Power
Charles Kim, President & CEO
Timothy Heinle, VP of Business Development
Sabah Mahmood, VP of Project Development, EPC & Operations
Sam Martens, Director of Strategy
Partial video of the MOU signing can be found on OCI Solar Power’s Facebook page.
Additional photos of the MOU signing are at https://www.smugmug.com/gallery/n-g68FTT/.