Malta Inc. and Schmid Pekintas Sign Agreement to Cooperate on Several Hybrid Projects in Türkiye, U.S., and Europe
The collaboration targets a combined market capacity of up to 1GW over the next five years
August 6, 2024 – Cambridge, Massachusetts – Malta Inc. (“Malta”), a pioneering company in electro-thermal long-duration energy storage solutions, and Schmid Pekintas Gunes Enerji Sistemleri San. ve. Tic. A.S. (“Schmid Pekintas”), a leading solar energy company with a strong presence in the solar panel manufacturing and solar project development sectors, are pleased to announce the signing of a Memorandum of Understanding (MoU) aimed at establishing a cooperative framework to hybridize several Schmid Pekintas’s solar energy projects with Malta’s advanced long duration energy storage.
The MoU will focus on assessing the co-development and construction of Malta’s long duration energy storage in colocation with Schmid Pekintas’s 540MW pre-licensed solar energy projects in Türkiye, as well as in the U.S. and Europe. This initiative aims to create a scalable, replicable, and cost efficient model for collocated solar and energy storage projects, ensuring a stable and reliable 24/7 green energy supply while providing essential grid reliability services such as synchronous inertia.
Concurrently, Schmid Pekintas and Malta will evaluate deploying energy storage solutions into 200-500 MW of existing and new solar projects across various South European countries and U.S. states, including California, New Mexico, and Texas, targeting a combined storage deployment of up to 1GW over the next five years.
Phil Delleville, COO/Managing Director of Malta, commented, “Partnering with Schmid Pekintas allows us to leverage our energy storage technology to enhance solar projects across multiple regions. Together, we aim to provide a dependable and sustainable energy infrastructure to expedite the energy transition.”
Özhan Olcay, CEO and President of Schmid Pekintas, added, “This collaboration marks a significant step toward transforming the renewable energy landscape in Türkiye and beyond. By combining Schmid Pekintas's expertise in solar module manufacturing and project development along with Malta's innovative storage solutions, reliable and sustainable energy solutions will be delivered on a global scale. Both companies are committed to driving innovation and supporting the transition to a greener future.”
About Malta Inc.
Malta Inc. is a leader in long-duration energy storage solutions. Committed to sustainability, Malta’s technology ensures a stable and reliable power supply, providing both flexible and cost-effective long-duration electricity storage, as well as essential grid reliability services (such as synchronous inertia, short circuit current, reactive power, black start ability & frequency support). Malta’s product lines of highly efficient thermal storage plants provide these services at grid scale (hundreds of megawatts each), offering solutions for the wide range of replacement needs of utility scale fossil gas and coal plants. A like-for-like replacement for natural gas-fired power plants, a utility-scale 100 MWe Malta plant stores up to 1 GWhe of solar and wind electricity, converting variable renewable energy into on-demand, around-the-clock, reliable power and enabling the deployment of vastly more renewable generation.
MALTA Inc. Corporate Communications
media@maltainc.com
Phone: +1 617-586-2786
For further information, visit https://maltainc.com/
About Schmid Pekintas
Pekintaş Group operates in areas of manufacturing, construction, project development, project based service and maintenance. As a group, Pekintaş can offer turn-key solutions with the highest level of professionalism through the integration of its group companies and sectors.
Pekintaş Construction, founded 65 years ago, focuses on pre-cast/ concrete construction elements manufacturing.
Aluform Pekintaş, founded 25 years ago, focuses on sandwich panel manufacturing for wall and roof insulations, and turn-key project development.
Schmid Pekintaş, founded 10 years ago, is a photovoltaic solar panel manufacturer established with the partnership of German Schmid and Pekintas Group companies. With more than 150 years of experience, Schmid Group is the pioneer of the solar energy sector and the leading equipment manufacturer in the world. With Pekintaş Group’s 100 years of experience combined with the German SCHMID Group’s 150 years of experience, Schmid Pekintaş represents a unique experience of over two centuries. With an annual module production capacity of 2.5 GW, Schmid Pekintaş is the largest solar module manufacturer not just in Turkey but also in the entire European region.
Pekintaş Group also has extensive experience as an EPC contractor, investor, and project developer and capabilities in offering all services to its customers from project design to turnkey solutions.
Schmid Pekintas Corporate Communications
info@schmid-pekintas.com
Phone: +34 617 308 782
For further information, visit https://www.schmid-pekintas.com/