OCI Solar Power, a utility-scale solar energy developer in Texas; CPS Energy, a municipally-owned, fully-integrated electric and natural gas utility; and the Hyundai Motor Group have signed a Memorandum of Understanding to test recycled 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 will share data from the project.
“Hyundai Motor Group will verify the possibilities and effectiveness of the ESS business in the North American market through this partnership,” said Jae Hyuk Oh, vice president of energy business development group of Hyundai Motor Group. “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 U.S. electricity market.”