By Giulia Petroni

RWE AG will invest around 140 million euros ($139.4 million) to build a 220-megawatt battery-storage system in Germany.

The German energy company said Monday that 690 lithium-ion batteries blocks will be installed at its power plants sites in Neurath and Hamm in North Rhine-Westphalia. The system is set to contribute to the stabilization of the grid with a reliable power supply.

Construction is scheduled to start in 2023 subject to a pending building permit, with commissioning planned for 2024, the company said.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

November 07, 2022 06:13 ET (11:13 GMT)

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