The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

NHOA grows energy storage revenues 28-fold and reaches c.€1 billion pipeline

LinkedIn
Twitter
Reddit
Facebook
Email

E-mobility and energy storage solutions firm New HOrizons Ahead (NHOA) grew its energy storage revenues 2,752% in the third quarter of the year.

The firm clocked €88.4 million (US$86 million) in sales from its Energy Storage segment in the three months to 30 September 2022, nearly 28 times higher than the €3.1 million in the same period last year.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

That makes the segment now by far the largest of its three and brought group revenues up to €99.8 million for the quarter, a nearly eight-fold increase on €11.7 million the previous year. E-mobility roughly doubled sales to €15.3 million while its EV Fastcharging Infrastructure segment has not posted revenues.

In energy storage, the backlog of orders grew 280% to €152 million. The 12-month order intake increased 750% to €223 million while projects under construction grew similarly, from 106MWh to 776MWh. Online capacity only increased 8.6%, to 201MW, while the overall pipeline also increased less quickly at 18%, but is now at nearly €1 billion (€984 million).

Carlalberto Guglielminotti, CEO of NHOA Group, formerly Engie EPS, said: “The continuous increase in backlog and order intake for NHOA Energy coupled with a stable pipeline of around 1 billion gives visibility on 2023 growth well beyond the macro scenario, confirming Energy Storage as the growth engine of the Group.”

A notable project that will have contributed substantially to these figures is a 100MW/200MWh lithium iron phosphate (LFP) battery energy storage system that NHOA started building in Australia in August, as previously covered by Energy-Storage.news.

It also recently revealed the award of a tender to supply a 36MWh system to enhance the flexibility of an undisclosed power plant in Latin America, although this was announced after 30 September.

You can read more of Energy-Storage.news’ coverage of developments at NHOA, which was acquired by the Taiwan Cement Corporation last year, here.

Read Next

June 20, 2024
NHOA Energy signed an agreement with Statkraft to supply a battery energy storage systems (BESS) for a 113MWh project in Coylton, Scotland.
June 18, 2024
A renewables-only subsidiary of utility Eneco and developer Energisto have revealed a battery energy storage system (BESS) joint venture in Germany, which expects construction permits for up to 400MWh of projects this year.
June 13, 2024
TCC Group Holdings, the majority owner of New HOrizons Ahead (NHOA), intends to increase its holding and take the company private, delisting it from the Euronext Paris exchange.  
May 31, 2024
Harmony Energy Income Trust (HEIT) has scrapped its first quarter dividend and appointed advisors JLL to sell some or all of its BESS assets, partly to demonstrate that the fund is undervalued by the markets.
Premium
May 30, 2024
Battery storage thrives on energy market volatility meaning there will be good years and bad years, a panellist at Solar Media’s Renewable Energy Revenues Summit 2024 said last week.

Most Popular

Email Newsletter