FosRich promoting battery energy storage
LIGHTING AND energy company FosRich is partnering with Huawei Fusion Solar to deliver battery energy-storage systems.
The state-of-the-art systems are scalable t o deliver up t o 200 megawatt hours (MWh) of uninterrupted power. The company unveiled the new solution yesterday at the Jamaica Stock Exchange’s (JSE) 2024 Regional Investments and Capital Markets Conference.
FosRich has been supporting the development of photovoltaic projects across Jamaica for the last five years. These projects have been mostly concentrated in the area of domestic solar photovoltaic systems.
The Junior Market-listed company has mostly concentrated on lighting and wiring, along with switch gear and panels for industrial applications.
Over the last two years, FosRich has reaped success by its entry into the manufacture and distribution of solid PVC pipes and conduits.
Managing Director of FosRich Cecil Foster says the goal is to emphasise that reliable energy supply is the backbone of industrialisation and economic progress, and that such solutions can contribute to sustainable development.
The systems come with smart batteries that are stackable and are backed by the use of artificial intelligence technology, to monitor operations and adapt the use of the system to existing conditions and power needs.
The battery system can store energy from solar PV set-ups or can be used as a backup system in the way a power generator is used.
Foster says the average system for the typical commercial operation could cost about J$16 million. The company is also offering financing options.
The managing director would not be drawn on the level of investment, but based on interest shown and contracts in hand, he was willing to project on the amount of revenue possible. He says he expects to get J$500 million annually.
Battery energy-storage systems are relatively new to the Jamaican market. Until now, such systems have been used on a small scale to power computer systems or to provide emergency lighting.