VinES, a subsidiary of Vietnam’s largest private conglomerate Vingroup and specializing in R&D and the production of advanced batteries for mobility and energy storage applications, has announced a partnership with Turkish company Altınay Elektromobilite to provide comprehensive energy storage solutions in the Turkish market.

“The cooperation between Altınay and VinES will bring a lot to our country, where the demand for energy and production is increasing,” said Mr. E. Mert Uygun, General Manager of Altınay Elektromobilite. “With this cooperation, we aim to bring domestic investors in the sector together with the right products at competitive prices.”

He further explained the reason behind the company’s partnership with the Vietnamese firm. “Their technology and production advantages will strategically fit with our experienced domestic engineering to cover all energy storage systems (ESS) products, our market dominance, and speed to facilitate field installations, commissioning, and periodic maintenance,” he said. “In addition, when we combine the expertise of VinES in unit cost optimization with the knowledge and experience of Altınay Elektromobilite, we can offer competitive solutions to end users.”

With the rapid development of technology, renewable energy sources are becoming increasingly competitive with conventional fossil fuel power sources, but the challenge for the industry lies in efficiently storing, transmitting, and distributing clean energy, said Mr. Vo Le Duy Duc, Strategy Director at VinES.

Therefore, ESS will play a critical role in the transition to clean energy, he noted, adding that it has developed and offered a key solution to address this problem. “We are pleased to partner with Altınay Elektromobilite and believe that our strategic cooperation will strongly accelerate both companies in bringing the right products and solutions to the Turkish clean power industry,” he said

Saying that Altınay Elektromobilite wants to take its place in the energy storage market, which is expected to experience unprecedented growth, and to be positioned as a reliable business partner for domestic investors, Mr. Uygun said: “In this context, we are going into strategic cooperation with VinES, a global transformative energy solution provider with a diverse product portfolio. VinES will offer the technology, system design, production, and verification of the ESS, and we will undertake the sales and marketing of VinES’s ESS product portfolio as well as after-sales services in the Turkish market.”

Estimates from the International Energy Agency show that the total installed capacity of container-type ESS could reach 680 GWh by 2030 under the net-zero scenario. According to such estimates, the increase is calculated as 42.5x between 2022 and 2030, while it is stated that the annual increase in installed ESS capacity worldwide should be over 80GWh in order to meet the current demand.

The number of applications for energy production and storage in Turkey had risen to 200 GWh as of January 2023, according to data from the Turkey Energy Market Regulatory Authority (EPDK). With the accelerated emergence of sustainable systems such as solar and wind power plants, the electrification of cars, and the increasing need for energy storage required to support facilities and grid infrastructure, this demand has brought with it rapid growth signals in Turkey’s energy storage market.