Post on 28-May-2020
UNLOCKING
NEW VALUE
STREAMS IN
MENAT
THE RENEWABLE
HYBRIDS
TABLE OF CONTENTS
ABSTRACT ..................................................................................................................................................... 2
INTRODUCTION ........................................................................................................................................... 3
DEFINITIONS .................................................................................................................................................. 4
MENAT / MIDDLE EAST, NORTH AFRICA, TURKEY ............................................................................... 4
RENEWABLE HYBRIDS .............................................................................................................................. 4
HOW CAN RENEWABLE HYBRIDS HELP? .............................................................................................. 4
THE POTENTIAL ............................................................................................................................................. 7
THE SOLUTIONS ............................................................................................................................................ 8
WIND + SOLAR (CO-LOCATED / WISE) ................................................................................................ 8
ENERGY STORAGE ................................................................................................................................ 11
THE VALUE .................................................................................................................................................. 12
WIND + SOLAR CO-LOCATED/WISE ................................................................................................... 12
WIND + SOLAR CO-LOCATED/WISE + STORAGE ............................................................................. 14
USE CASES For THE MENAT REGION ....................................................................................................... 15
SUMMARY ................................................................................................................................................... 16
FIGURE 1 – MENAT COUNTRIES ........................................................................................................................ 4
FIGURE 2 - RENEWABLE GENERATION CAPACITY BY ENERGY SOURCE ................................................................... 4
FIGURE 3 - LITHIUM-ION BATTERY PRICE FORECAST ............................................................................................. 5
FIGURE 4 - GE RESERVOIR BATTERY ENERGY STORAGE SYSTEM ............................................................................ 5
FIGURE 5 - HYBRID CONTROLS .......................................................................................................................... 5
FIGURE 6 - WIND POWER DENSITY IN TURKEY ...................................................................................................... 7
FIGURE 7 - PV POWER POTENTIAL OF TURKEY ..................................................................................................... 7
FIGURE 8 - WIND POWER DENSITY PAKISTAN ...................................................................................................... 7
FIGURE 9 – PV POWER POTENTIAL OF PAKISTAN ................................................................................................. 7
FIGURE 10 – PV POWER POTENTIAL OF MENA .................................................................................................. 7
FIGURE 11 - WIND POWER POTENTIAL OF MENA SUPERIMPOSED OVER PV POTENTIAL ........................................ 7
FIGURE 12 – EXAMPLE 1 - YEARLY VIEW ON COMPLEMENTARY WIND AND SOLAR PROFILE IN PAKISTAN ............... 8
FIGURE 13 – COMPARISON OF SYNERGIES ON SOLAR INTEGRATION .................................................................... 9
FIGURE 14 - EXAMPLE 2 - YEARLY VIEW ON COMPLEMENTARY WIND AND SOLAR PROFILE IN PAKISTAN .............. 10
FIGURE 15 - WIND + SOLAR RENEWABLE HYBRID PLANT ................................................................................... 13
TABLE 1 - VALUE/BENEFITS OF CO-LOCATED WIND AND SOLAR ....................................................................... 13
TABLE 2 - VALUE/BENEFITS OF CO-LOCATED WIND, SOLAR AND STORAGE ....................................................... 14
ABSTRACT
UNLOCKING NEW
VALUE STREAMS
03
PERFECT MATCH
02
ENERGY ECOSYSTEM
01 THE CHANGE
Renewables are becoming mainstream, industries are going digital, and
under the trends of Decarbonization, Digitization and Decentralization,
Renewable Hybrids are on the way to making renewable energy base-load,
while keeping it reliable, affordable and sustainable.
THE POTENTIAL
MENAT has an abundance of wind and solar resources and countries are
setting ambitious targets and implementing policies to harness the region’s
renewable energy potential, driving economic growth and energy security.
Renewable Hybrids can be a perfect match to support the changing
dynamics of the region.
THE VALUE
Renewable Hybrids unlock new revenue and value streams for all
stakeholders in the energy ecosystem, from developers to EPCs, O&M
Contractors to Suppliers, and TSOs to policy makers. Hybrid renewable
energy is a highly local form of power generation, this requires that each
opportunity needs a tailored approach and an analysis of the local
electricity landscape and regulation maximize the value streams.
Unlocking New Value Streams
with Renewable Hybrids in
MENAT
UNLOCKING NEW VALUE STREAMS IN MENAT THE RENEWABLE HYBRIDS
G E R e n e w a b l e E n e r g y | 3 | Hybrid Solutions
The number of cities
powered by at least 70%
renewable electricity
more than doubled
between 2015 and 2017.
Total renewable power
capacity more than
doubled in the decade
2007-2017.1
INTRODUCTION
One of the greatest challenges for mankind in the 21st century
is powering the planet while, at the same time, drastically
reducing carbon emissions and lowering the cost of energy.
The three trends below (the 3D’s) are disrupting the traditional
power sector;
1. DECARBONIZATION: By 2040, RENEWABLES will
represent 40% of global net electricity2
2. DIGITIZATION: DIGITAL economy will account for 25%
of the world entire economy by 20203
3. DECENTRALIZATION: Annual installed capacity across
Distributed Energy Resources (DER) market is expected
to grow from 109.9 GW in 2015 to 335.8 GW in 20244
As of today, we’re in the middle of three revolutions.
First: Renewable Energy is going mainstream. The transition to
environmentally sound, sustainable, and affordable sources of
electricity is well underway. This global transition to renewable
energy is accelerating, driven by the decreasing cost of
producing electricity due to significant technological
advancements in renewable energy technology.
Second: Industrial is going Digital. The Industrial Internet of
Things (IIoT) is rapidly creating new paths to productivity,
reliability, and longevity. With it, we have the power to change
the way we run the world’s core infrastructure.
Third: Renewable Hybrids are rapidly moving towards making
renewables base-load; being interconnected with wind
power, photovoltaic solar power and/or storage solutions to
generate power which is reliable, predictable and
economical;
The MENAT region, with its significant resource availability of
both solar and wind, the changing market dynamics, the
strong drive of governments to develop renewable energy
projects, the setting of ambitious targets and implementing
UNLOCKING NEW VALUE STREAMS IN MENAT THE RENEWABLE HYBRIDS
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DEFINITIONS
MENAT / MIDDLE EAST, NORTH
AFRICA, TURKEY
To clarify the definition of MENAT: The
MENAT region is defined as covering
a vast area of 24 countries comprising
Mauritania, Morocco, Algeria, Libya,
Tunisia, Egypt, Sudan, Oman, Yemen,
Saudi Arabia, United Arab Emirates,
Qatar, Bahrain, Kuwait, Iraq, Iran,
Syria, Jordan, Lebanon, Palestine,
Iran, Afghanistan, Pakistan and Turkey
(see Figure 1).
Figure 1 – MENAT Countries
Figure 2 - Renewable generation
capacity by energy source
(IRENA)
policies to spur economic growth and secure energy
security through the diversification of the energy mix, is
already providing a platform for the three energy
revolutions mentioned above.
Under these circumstances, Renewable Hybrid solutions
can unlock new value streams for all stakeholders of the
energy ecosystem in MENAT to further ensure no one has
to choose between reliable, affordable and sustainable
energy.
RENEWABLE HYBRIDS
In this paper, Renewable Hybrids are defined as a
combination of renewable generation sources with one
another (i.e. Wind + Solar) and/or energy storage
integrated (i.e. Wind + Solar + Storage) where Energy
storage can be:
• Batteries,
• Pumped Storage,
• Thermal Storage, etc.
At GE Renewable Energy, the focus as of now, is on utility-
scale renewable energy integrated systems
HOW CAN RENEWABLE HYBRIDS HELP?
With all the fast-paced changes in the global energy
ecosystem, several key trends are driving hybridization,
including renewables reaching grid parity, record
deployment of renewables, significant cost reduction in
renewable energy technology and batteries, and digital
solutions optimizing plants and power output. As the MENAT
region develops renewable energy and diversifies it energy
mix, it has been a showcase for almost all the key
hybridization trends.
2179 GW,
end of 20178
UNLOCKING NEW VALUE STREAMS IN MENAT THE RENEWABLE HYBRIDS
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Figure 3 - Lithium-Ion Battery Price
Forecast 5
Exponential cost reductions for
batteries: The price of batteries has
fallen 24% since 2016 and 80% since
2010, according to BNEF as seen on
Figure 3 - Lithium-Ion Battery Price
Forecast. The total battery storage
capacity is expected to increase
dramatically to 250 GW by 2030
(IRENA6), thanks to a significant drop
in prices mainly driven by Electric
Vehicles (EV). In addition, in certain
parts of the US, solar with batteries is
now cheaper than a new combined
cycle gas power plant, ($36/MWh
compared to $47/MWh, respectively)
according to BNEF7.
Figure 4 - GE Reservoir Battery
Energy Storage System
Renewables reaching & lowering grid parity: More and more
utility-scale wind and solar projects are reaching grid parity
every year with record-breaking figures especially observed in
MENAT region for utility-scale wind and solar PV. According to
the latest tender results in Saudi Arabia, wind stands at 2.13
USD cent/kWh and solar at 2.34 USD cent/kWh; where in
Dubai the LCOE for solar is 2.3 USD cent/kWh.
Record deployment of variable renewable generation:
According to Renewable Capacity Highlights Report (IRENA)8,
Global renewable generation capacity at the end of 2017
reached to 2,179 GW, where growth in renewable energy
capacity addition was 8,3%, corresponding to an increase of
167 GW globally, 85% of which belongs to wind and solar.8
Digital solutions enabling integration of multi-gen sources: The
industry is adopting Digital technologies to become more
efficient while the abundance of data & computing power is
enabling innovations to deliver revolutionary outcomes,
paving the way forward for the maximum utilization of hybrid
solutions via hybrid controls.
Figure 5 - Hybrid Controls
INCREASED CAPACITY FACTOR PLANTS
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FIRM TO FORECAST / SHAPED LOAD
LOSS RECAPTURE + ANCILLARY SERVICES
As of end-2017, corporate entities
worldwide had actively sourced 465
TWh of renewable electricity1
Renewable Hybrids can be a great
choice to enable the increase of the
predictability and dispatchability of
renewables to enable firm Power
Purchase Agreements.
Renewable Hybrids can be the enabler for unlocking new
value streams which can help solve the problem statements
below.
• Renewable Energy variability: The complementarity of wind
and solar resources, can offset the impact of sudden
change in wind availability or speed and solar irradiance.
Integrating storage technologies, can also reduce or
eliminate curtailment by storing excess power for use during
periods of low supply
• Better LCOE at the POI: In co-located wind and solar farms,
the annual energy production (AEP) on the same point of
interconnection (POI) increases through complementary
generation of wind and solar during different times of the
day, improving the plant’s capacity factor (the percentage
of generation vs the grid capacity). Integration can also
result on reduced CAPEX through equipment and balance
of plant optimization. The sum of the above helps reduce
system levelized cost of electricity (LCOE) versus a stand-
alone wind or solar plant
• Reducing Grid stress: Renewable Hybrids can help reduce
the stress on the grid by reducing intermittency of supply
adding frequency and voltage support via storage, hence
stability to manage increasing MWs of renewable assets
• Demand Matching / Load Following: Thanks to better and
complementary generation profiles, Renewable Hybrids
enable the alignment of the generation profile with
demand and/or consumption, making load following
possible especially where the solar peak aligned with air
conditioning loads in MENAT.
• Arbitrage opportunity: Together with storage solutions,
Renewable Hybrids can be used to shift energy to times
with high prices thereby unlocking new revenue streams
• More renewable energy integrated systems via Corporate
PPAs: Renewable energy projects make sense both
economically and environmentally. In 2016, more than 1GW
of capacity was purchased by large corporations through
power purchase agreements (PPAs) – that’s three times
more than the year before.
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Figure 6 - Wind Power Density in Turkey
Figure 7 - PV Power Potential of Turkey
Figure 8 - Wind Power Density Pakistan
Figure 9 – PV Power Potential of Pakistan
THE POTENTIAL
The MENAT region has abundance of renewable energy
resources in terms of the strength of the wind and the heat of
the sun. The potential of these resources can further be
unleashed by implementing renewable hybrid solutions.
Figure 10 – PV Power Potential of MENA9
Figure 11 - Wind Power Potential of MENA10 superimposed
over PV Potential
The MENAT region has many locations where wind and solar
power generation can be favorable together as seen on
Figure 12 and Figure 14. In addition, considering other factors
such as limited land availability, limited or weak grid
connections, mostly complementary nature of resources, high
capacity factor (CF) expectations and avoidance of
additional grid infrastructure investments, Renewable Hybrids
can be a better choice to deliver more value than stand-
alone wind or solar plants.
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Figure 12 – Example 1 - Yearly View on Complementary
Wind and Solar Profile in Pakistan
THE SOLUTIONS
WIND + SOLAR (CO-LOCATED / WISE)
Stand-alone wind or solar plants can be connected to the
same grid interconnection point; however, under Renewable
Hybrids solutions, the integration of the wind and solar power
is made either at farm-level or at wind turbine/PV array level.
Both solutions may also be integrated further with a Battery
Energy Storage System (BESS).
In a “Co-Located” Solution, the integration is made at the
plant level, and synergies are achieved by the elimination
and effective utilization of some common Balance of Plant
(BOP) components such as substation, switchgears and
transformers.
0
50
100
150
200
250
0
2
4
6
8
10
12
0 2 4 6 8 10 12 14 16 18 20 22
So
lar
pro
du
ctio
n
(500kw
dc
)
Win
d S
pe
ed
(m
/S)
24 Hours
Wind Speed Solar ProductionSolar and Wind are serving
better in tandem when
complementary generation
profiles are observed (wind
at night and solar during
the day and thanks to
synergies created on
development, existing
infrastructure, CAPEX and
OPEX.
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Wind Integrated Solar Energy concept
(WiSE)
In a “Wind Integrated Solar Energy” (WiSE) solution, instead of
running a wind and solar plant independently, plant owners
integrate wind and solar at the wind turbine level instead of
at the farm-level. Integrating at the wind turbine level
leverages the existing wind converter as a hybrid converter to
source AC and DC power together, further eliminating the
need for a separate solar inverter. With the integration at the
turbine level one can also leverage the existing electrical
connection infrastructure and Balance of Plant equipment
which reduces the overall CAPEX per MW output further. For
the WISE solution (applicable to certain GE Wind Turbine
models), source segregation with separate metering also
enables having individual Power Purchase Agreements.
In addition, combining complementary wind production and
solar production similar to Figure 12 above enables a more
stable and higher annual energy production (AEP), further
reducing LCOE while leveraging one common O&M provider
since wind O&Ms are typically capable of performing O&M
activities for solar thus maximizing the synergies in terms of
manpower, access means, and performance of services.
On the controls side, digital advanced Hybrid Controls &
SCADA manage, monitor and control both the wind and solar
generation assets to optimize the farm’s output energy.
Figure 13 – Comparison of Synergies on Solar Integration
(assuming same size of solar) (GE)
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Another example of complementary generation profile is
shown in Figure 14 where wind speed and solar irradiance
trends are similar (while magnitude of wind speed varies) and
limited instances of co-incidental peak wind speed and solar
irradiance (lower in Wind Season) occur, resulting in limited
curtailment and higher combined benefits.
Figure 14 - Example 2 - Yearly View on Complementary
Wind and Solar Profile in Pakistan
Figure 13 show a comparative standing of some cost items
relevant for Stand-alone, Co-located and WISE solutions. Total
cost savings were estimated to be between 3 to 13 percent
for CAPEX and 3 to 16 percent for OPEX11.
Also, as a brownfield approach, solar can be integrated to
and with existing Wind farms to enhance the benefit of the
existing infrastructure and interconnections. Subject to the
curtailment studies based on the generation profiles at that
particular site, most of the wind farms may be found
technically available to accommodate solar plants.
Existing wind farms can also
be integrated with a solar
plant to enhance the
benefit of existing
infrastructure and
interconnections.
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ENERGY STORAGE
The most prevalent form of energy storage today, in terms of
installed capacity, is pumped hydro storage. This form of
storage has its origin in the first dams that were installed across
streams to provide steady and reliable power for a water
wheel or similar device. In a pumped hydro storage facility,
water is pumped uphill into a reservoir when excess
generating capacity is available (and electricity prices are
low), and then allowed to flow downhill through turbines
when demand is higher (and electricity prices are higher). The
round-trip efficiency of this type of system is approximately
80%. There are more than 160 GW of pumped storage
installed globally today.
Other forms of energy storage in use have been deployed
with varying success around the world. The primary drawback
to most of these storage systems has been cost; however,
recent significant developments in battery technology mean
that today both Li-ion batteries and pumped storage
represent the one of the most commercially feasible forms of
storage.
Battery Energy Storage Systems (BESS) are typically configured
in one of two ways, either a “power” configuration or an
“energy” configuration, depending on their intended
application. This is accomplished by adjusting the ratio of
inverters to batteries in the system. In a “power” configuration,
the batteries are used to inject a large amount of power into
the grid in a relatively short period of time. There is a high
inverter to battery ratio required to accomplish this. In an
“energy” configuration, the batteries are used to inject a
steady amount of power into the grid for an extended period
of time. This application has a low inverter to battery ratio and
would typically be used for addressing issues such as the
California “Duck Curve” in which power demand changes
are occurring over a period as long as several hours or shifting
curtailed PV production to a later time of the day.
With declining costs, it is
becoming economical to
couple battery storage with
wind and solar co-located
plants. This further results in
enabling new features such
as better response time,
smoothing of energy
production and reduction
of the impacts of
unpredictability
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THE VALUE
WIND + SOLAR CO-LOCATED/WISE
The below table is a summary of benefits that co-located/WISE Renewable Hybrid solutions can bring over a
stand-alone wind or solar plant of same capacity. Not surprisingly an important point to consider is that some
of these benefits depend on the local conditions, resources, and policies as Renewable energy is the most
local form of power generation and the electricity landscape determines the needs and how the
stakeholders define value.
Value/ Benefit
(Over Stand-alone) Achieved Through
Decrease in
project development
costs
For Existing Renewable Sites
the existing knowledge on site
limited efforts needed to update the design consideration, studies
Grid connection Agreement requiring minor changes
elimination of new deed of land / land-lease
availability of certain energy generation related approvals
For Greenfield Development
Synergies and efficiencies on development, feasibility, environmental, social,
connection, marketing, studies, project permits / filings, licenses
Helps reducing the shared costs for site related plant type independent
studies (site visits, geotechnical and topographical surveys, ecological,
archeological surveys etc.)
Savings on professional services (i.e. financial, legal, technical advisory)
Utilization of Land
Asset/Availability
Maximizing the power density via better use of space and helps reducing the
cost of land / MW
Use of existing site facilities (roads, buildings, areas) and elimination of
projects mobilization, communication, security and construction costs
Optimized project schedule for construction by managing work force in idle
times (high wind season)
Better Generation Profile /
Firming Effect
Complementary generation profile resulting in higher capacity factors at the
point of interconnection with less degree of intermittency
Improved commercial flexibility due to reduced difference in generation
levels between daytime and nighttime periods as well as seasonal high/lows
Improved PPA offering and certainty due to better generation profile and
lower intermittency
Better mitigation of risk over single generation-type
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Value/ Benefit
(Over Stand-alone) Achieved Through
Optimized Grid
Connection
For Existing Sites
Modifying the existing substation and reducing the costs for major electrical
equipment as well as additional civil works
For Greenfield Development
Potential savings coming from the optimized substation design allowing to go
for a lower rating than the sum of two stand-alone plants
Improved Design
reducing
CAPEX
Potential savings coming from the optimized plant design allowing to go for
sharing the balance of plant (BOP) equipment, facilities, cabling,
infrastructure, landscaping, fencing and central systems (SCADA, security,
monitoring etc.)
Synergies reducing
OPEX
Using the single/same workforce optimization manpower, access means, site
intervention and performance of services
Managing of one asset and reduced administrative/management and
functional costs (accounting, human resources, sales & marketing, supply
chain, legal, licensing etc.)
Table 1 - Value/Benefits of Co-Located Wind and Solar
Figure 15 - Wind + Solar Renewable Hybrid Plant
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WIND + SOLAR CO-LOCATED/WISE + STORAGE
In addition to the benefits introduced under Table 1, the below value streams and benefits are dependent
on the project, local conditions, resources, policies, grid code, electricity landscape as well as battery prices
and require a tailored analysis to further evaluate the value for different stakeholders.
Table 2 - Value/Benefits of Co-Located Wind, Solar and Storage
Additional Value/ Benefit
(enabled by BESS) Achieved Through
Energy Arbitrage Increased revenue through improved ability to arbitrage wholesale
power prices
Peak Shaving Manage the plant so to compensate power injection excess/deficits at
POI
Firming / Penalty Reduction
Improved matching of production and consumption
Reduction of penalties for forecast deviation
Reduction of penalties for Balancing / Deviation and Settlement
schemes
T&D Deferral Increased load factor
Reduced T&D CAPEX by shifting generation to meet peak loads
Ancillary Services Increased revenue through increased participation in multiple ancillary
services markets
Remote Power Managing the plant to keep the overall power flow at POI within a value
command
Curtailment Avoidance Managing the plant according to grid frequency support
command/response algorithms
Ramp Rate Control Managing the plant according to grid frequency support
command/response algorithms
Frequency Regulation Managing the plant according to grid frequency support
command/response algorithms
Scheduled Power Manage the plant so to limit to the best extent drift from a daily/weekly
schedule
Islanding The BESS makes up for the needed power when grid drops off
Black Start The BESS restarts the plant after an outage and self-synchronizes with
Grid
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USE CASES FOR THE MENAT REGION
Below are some use cases for the MENAT region.
Morocco – Capacity Factor Maximization:
Due to the high penetration of wind energy in Morocco the grid operator requires new renewable plants
to behave more like base-load generation. Meaning controllable, high capacity factor and predictable.
Renewable Hybrid plant can deliver more capacity factor while still being competitive in terms of LCOE
with respect to traditional power generation. With the additional deployment of BESS system, the plant
becomes “dispatchable” and further ancillary services become available to stabilize the grid. This is
especially important when the power plants are far from the load centers which is the case in many
projects in Morocco.
Turkey – Energy Arbitrage, Minimization of costs due to Balancing and Settlement Regulation &
Forecasting Deviation
Currently almost all the wind farms in Turkey are selling the energy at a Feed-In-Tariff which starts at 7.3
USDcents/kWh. However, starting from 2019 until 2023, every year in average 560 MW of wind plants will
be getting out of the feed-in-tariff pool and will be starting to sell the power to the merchant market.
Assuming an average market price of electricity around 5 USDcents/kWh, battery storage can play an
important role for these plants maximizing plant’s revenues via energy arbitrage.
With the Day Ahead, Intra-day and Balancing Power markets in place in Turkey, there is Balancing Power
Groups mechanism under the current legislation where Power Producers are almost fully protected
against charges of balancing and forecasting deviations. However, in case of a change in Balancing
Power Groups legislation allowing the plants to group only if they are connected to the same transmission
region or requiring each wind plant to manage its own balancing and forecasting, this would lead to a
substantial cost increase for renewable projects which would make the implementation of battery
storage at the plants level financially viable.
Pakistan – Captive Power Generation
In Pakistan there is interest in Industrial consumers entering into PPAs with renewable plants due to high cost of
natural gas and RLNG. Hybrid Renewable Plants are suitable for this application because they bring several
benefits. These includes load following, lower electricity costs with stable long-term pricing. This allows the
industrial consumer to become more competitive and to avoid risks associated with changing fossil fuel
pricing. Additionally, the reduced carbon production is a selling point for purchasers of the final goods.
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SUMMARY
With an accelerating global and regional transition to
renewable energy coupled with the trends driving
hybridization, the MENAT region has the potential and
resources to exploit the best of both wind and solar solutions
with Renewable Hybrids. Renewable Hybrids can deliver
value of synergies and efficiencies during development,
construction and operation of renewable energy assets and
enable new revenue streams via new business models or
introducing new features that cannot be utilized when these
plants realized as stand-alone.
When further combined with battery storage solutions, more
revenue streams are unlocked and value stacking increases
thanks to additional features enabled due to storage.
Taking also into account other factors such as limited land
availability, limited or weak grid connections, the mostly
complementary nature of resources, high capacity factor
(CF) expectations and avoidance of additional grid
infrastructure investments, Renewable Hybrids can be of first
choice to deliver more value than stand-alone wind or solar
plants in MENAT.
Renewable Hybrids are rapidly
moving towards bringing
dispatchable renewables to the
grid with the promise of
affordable, reliable and
sustainable energy,
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ENDNOTES
1 REN 21 Renewables 2018 Global Status Report http://www.ren21.net/gsr-2018/ 2 IEA World Energy Outlook 2017 https://www.iea.org/weo2017/ 3 Digital Economic Value Index, Accenture, January 2016 4 Distributed Energy Resources Global Forecast. Navigant Research, January 2017 5 BloombergNEF New Energy Outlook 2018 -https://bnef.turtl.co/story/neo2018?teaser=true 6 IRENA REthinking Energy 2017 Report - http://www.irena.org/-
/media/Files/IRENA/Agency/Publication/2017/IRENA_REthinking_Energy_2017.pdf 7Bloomberg Article -https://www.bloomberg.com/news/articles/2018-09-17/solar-with-batteries-cheaper-
than-gas-in-parts-of-u-s-southwest 8 IRENA Renewable capacity highlights -https://www.irena.org/-
/media/Files/IRENA/Agency/Publication/2018/Mar/RE_capacity_highlights_2018.pdf?la=en&hash=217957
87DA9BB41A32D2FF3A9C0702C43857B39C 9 Global Solar Atlas – Downloads http://globalsolaratlas.info/downloads/middle-east-and-north-africa 10 Global Wind Atlas – Downloads https://globalwindatlas.info/en/downloads/MENA 11 Co-Location Investigation - A study into the potential for co-locating wind and solar farms in Australia –
AECOM Australia Pty Ltd - http://www.aecom.com/au/wp-content/uploads/2016/03/Wind-solar-Co-
location-Study-Final.pdf