United States – OCI Solar Power, one of the state’s largest developers of utility-scale solar energy, 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 comprised of Hyundai Motor Company and Kia Corporation, have signed a Memorandum of Understanding (MOU) to test recycled electric vehicle batteries.
Installation by September
The parties intend to install the energy storage system (ESS) designed by Hyundai Motor Group by September 2022. OCI Solar Power will acquire and supervise construction of specific ESS components, while CPS Energy will run the ESS. All three parties will collaborate to develop the ESS and then study and exchange project data.
After seven to ten years, a lithium-ion battery used in an EV may lose the efficiency required for that application. However, the same battery can be recycled and used to provide valuable energy storage in an energy storage application. This collaboration represents a significant step forward in the testing of this technology.