Seatrium Ltd (SEAT.SI), an energy and marine solutions company, said on Thursday it has completed the installation of a floating Energy Storage System (ESS) in Singapore, which is due to be operational by the first quarter of 2024.

Seatrium has been working in partnership with Singapore's Energy Market Authority (EMA), and this is the first floating and stacked ESS in Southeast Asia, the company said in a statement.

An ESS operates as an energy reservoir, capturing surplus energy during periods of low demand and releasing it during peak power consumption periods.

The stacked and floating energy solution is crucial in addressing Singapore's limited land availability, Seatrium said.

The facility has a maximum storage capacity of 7.5 megawatt hour (MWh) and can meet electricity needs of "more than 600 four-room HDB households for one day", the company said, referring to a typical residential apartment in Singapore.

by reuters