• Energy - Electricity, gas, steam and air conditioning supply

The project involves developing and deploying advanced technology across Europe to enable real-time measurement of power system inertia, system strength and oscillation monitoring.

The targeted technology will address the challenges to grid stability caused by the growing integration of non-synchronous, inverter-based renewable energy sources. In particular, real-time, high-accuracy inertia measurements will support network operators in optimising the curtailment of renewable energy sources and the procurement of reserve services. This will ultimately help reduce energy costs for end users and lower carbon monoxide emissions.

The project addresses the Invest EU eligible area 1, the development of the energy sector, as per the Annex II of InvestEU Regulation.

The project helps the promoter in the further development and market deployment of its product for real-time measurement of power system inertia, system strength, and oscillation monitoring.

The project will fully contribute to TechEU ("Digitalisation and technological innovation"), a core strategic priority within the Bank's Strategic Roadmap. It contributes to the Bank's Innovation, Digital and Human Capital public policy goal and it qualifies under the EIB Climate Action and Environmental Sustainability policy objective. This project addresses the sub-optimal investment situations associated with imperfect competition and incomplete markets, by contributing to increase the level of competition and enable the development and deployment of innovative power system monitoring technologies. These technologies are designed to address the challenges to grid stability posed by the increasing integration of non-synchronous, inverter-based Renewable Energy Sources (RES). In particular real-time, high-accuracy inertia measurements will support network operators in optimizing RES curtailment and the procurement of reserve services, ultimately helping to reduce energy costs for end users and lower CO emissions, leading to positive environmental externalities.

The EIB financing addresses the market failure of availability of non-dilutive growth capital for fast growing innovative SMEs, allowing the company to continue investing in R&D, creating skilled R&D jobs in the EU and support its growth. The EIB's financing is customised to the company's needs and highly flexible in terms of drawdowns. It is also expected to generate a crowding-in effect.

The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.

The inertia measurement may include the installation of MW scale Ultracapacitor or Battery Energy Storage Systems that will be requested to comply with applicable national and EU legislation, as appropriate.

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions.

Renewable Energy Sources (RES) unlike traditional power generators do not supply inertia. Decreasing inertia exposes the system to more regular, larger and faster frequency deviations when events on the network occur. These events increase the risk of generation and load disconnections and islanding. As mitigations, operators curtail RES and procure more reserve services. While necessary, these actions are expensive and, when used excessively or unnecessarily, can slow the progress toward a greener energy system.