Description

TABLE OF CONTENTS

 
Executive summary (5)
1. New regulations and initiatives discussed this month (6)
1.1. Europe (6)
1.2. Africa  (9)
2. Project updates and announcements  (10)
2.1. Overview of the 2022 and 2023 markets for utility-scale energy storage projects  (10)
2.2. Projects announced or contracted this month (11)
2.3. Projects commissioned this month  (12)
2.4. Tenders this month (13)
3. Focus of the month: Battery recycling as a central driver for the energy storage industry - key
considerations  (15)
3.1. The chemical composition of a lithium-iron-phosphate cell  (15)
3.2. New regulations to push for an extensive recycling of batteries – The European case (16)
3.2.1. Main measures from new regulation  (17)
3.3. The origin and need for critical minerals represent challenges that can be surmounted via recycling  (17)
3.3.1. New players enter the recycling market as considerable volumes of end-of-life batteries emerge  (19)
3.4. Diverse recycling methods exist, with each its own set of pros & cons  (20)
3.4.1. Pyrometallurgy (21)
3.4.2. Hydrometallurgy  (21)
3.4.3. Comparison of the pyrometallurgy and hydrometallurgy techniques  (22)
3.5. Case study: end-of-life value of a 50MW/100MWh storage project  (23)
3.5.1. Operational costs  (25)
3.5.2. Residual value of a BESS container (26)
3.5.3. Recycling Skids  (26)
3.5.4. Recycling cables   (27)
3.5.5. Post-recycling value of equipment in the portfolio (27)

TABLE OF FIGURES

Figure 1: MW of projects awarded in PERTE tender per company and associated weighted average CAPEX subsidy (7)
Figure 2: Utility-scale energy storage projects announced/contracted and commissioned in 2022 and 2023 (ongoing) (10)
Figure 3: Mass distribution (%) of the main components of an LFP cell (LiFePO4)  (16)
Figure 4: Mineral production and reserves by country  (18)
Figure 5: Global demand for critical minerals (18)
Figure 6: EV global sales per year and required battery volume (20)