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August 31, 2021

North Sound Road Power Generation Plant – Battery Energy Storage System, Cayman Islands

By Carmen

The North Sound Road Power Generation Plant – Battery Energy Storage System is a 20,000kW energy storage project located in Grand Cayman, Cayman Islands.

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Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
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The project was announced in 2019 and will be commissioned in 2021.

Description

The North Sound Road Power Generation Plant – Battery Energy Storage System is owned by Caribbean Utilities (100%), a subsidiary of Fortis.

The key application of the project is spinning reserve.

Contractors involved

Caribbean Utilities is the owner of North Sound Road Power Generation Plant – Battery Energy Storage System.

Additional information

The Utility Regulation and Competition Office (‘OfReg’) has approved a request from Caribbean Utilities Company, Ltd. (CUC) for a 20 MW Utility-scale Battery for its Instantaneous Reserves project. CUC will store a relatively small amount of energy with the primary function of providing backup power for its North Sound Road power generation plant which in turn will reduce the generation plant’s fuel usage. The primary function of the battery is to provide ‘instantaneous or spinning reserve’ in the event of power generation plant failure. That is, if an operating generator fails, the battery will instantly provide the shortfall in energy until other generators can be brought online.

Methodology

All publicly-announced energy storage projects included in this analysis are drawn from GlobalData’s Power IC. The information regarding the projects are sourced through secondary information sources such as country specific power players, company news and reports, statistical organisations, regulatory body, government planning reports and their publications and is further validated through primary from various stakeholders such as power utility companies, consultants, energy associations of respective countries, government bodies and professionals from leading players in the power sector.

Related Companies

Free Report
img

Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
Get ahead of this growing market and win big by utilizing our report.
by GlobalData
Enter your details here to receive your free Report.

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