Amber Kinetics, a US-based energy storage company, announced plans to further expand its operations in the Philippines and the US following a visit by Philippine Ambassador to the US Jose Manuel Romualdez.
"Amber Kinetics'' investment and innovation in energy storage are transforming the Philippines'' energy landscape, driving sustainability and supporting our transition to a greener future," Romualdez said during a visit organized by the Philippine Trade and Investment Center (PTIC) in Silicon Valley.
Romualdez took note of a new technology unique to Amber Kinetics—an energy storage extending capacity from minutes to hours. The new technology offers safe, sustainable, and reliable solutions for modern energy grids.
"This bilateral partnership exemplifies our shared vision for world-leading energy efficiency solutions. We are excited about the next stages of development," said Amber Kinetics co-founder and chief technology officer Seth Sanders.
The visit was an off-shoot of Amber Kinetics'' participation in the Philippines Sustainability Roundtable during the 2023 Asia-Pacific Economic Cooperation in San Francisco, where the company was recognized for its contributions to renewable energy initiatives in the Philippines.
Amber Kinetics has a global facility in Batangas, which focuses on manufacturing, assembling, and testing flywheels, and a demonstration hub at De La Salle University in Sta. Rosa, Laguna which is the world''s first flywheel innovation center.
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The Department of Energy (DOE) said Thursday adding battery energy storage systems in the renewable energy technologies to be offered under the Green Energy Auction Program 4 could bring up the offer prices by P5 to P6 per kilowatt-hour.
"We know that adding the energy storage system is going to increase the price. It can go for as high as an additional about P5 to P6 kWh," Energy Undersecretary Rowena Guevara said at the sidelines of the European Chamber of Commerce of the Philippines'' Energy Smart Forum 2024.
Guevara said they were looking at options on how to bring down the prices for BESS. "We''re still talking with our simulators, then we will hold public consultations because it should be feasible for the generators," she said.
Guevara said one strategy is to use transition credits for those who have coal facilities. "That transition credits will take up a little bit of the price of the plant that they will build in renewable, so the price will go down," she said.
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