Entrepreneurs and top managers found Green Energy Storage Initiative (GESI SE)

Entrepreneurs and top managers found Green Energy Storage Initiative (GESI SE)

  • Ten large-scale battery projects planned, including at coal-fired and nuclear power plant sites
  • Initiator Martin Schoeller wins over former DAX CEOs and board members
  • PlannedCO2 savings: five million tons per year.

Pullach, December 15. Business is driving the energy transition forward: following intensive preparations, a group of entrepreneurs and top managers founded the Green Energy Storage Initiative (GESI SE) this week. “Our goal is to accelerate the energy transition by building large storage capacities for green electricity, reduce the number of new fossil gas-fired power plants and save up to five million tonsof CO2 per year,” says initiator Martin Schoeller.

The family entrepreneur joins former Dax board members Walter Raizner and Nikolaus von Bomhard, long-time BCG Germany CEO Peter Strüven and former Siemens Industry Solutions CEO Jens Wegmann on the GESI SE Board of Directors.

“With the storage power plants, we want to help manage the transition to renewable energies efficiently and with positive macroeconomic effects,” says Walter Raizner, who acts as Chairman and CEO. “Enormous additional storage capacities are needed for a successful energy transition”.

Ambitious target: up to five million tons ofCO2 saved per year

In the medium term, GESI is planning ten projects with a total capacity of up to 20 gigawatt hours to ensure a continuous supply of green electricity – even during periods of low wind and sunshine. “We are already holding intensive talks to acquire suitable locations for the large batteries and conclude long-term supply contracts with relevant industrial partners,” says Jens Wegmann, member of the Board of Directors.

According to calculations by the Fraunhofer Institute for Solar Energy Systems, the planned total GESI capacity could save up to five million tons ofCO2 per year. The projects would also have a dampening effect on electricity prices and greatly reduce dependence on energy imports.

Lower gas demand due to rising green electricity quotas

One of the key advantages is that the generation of solar and wind energy would have to be curtailed or even stopped much less frequently. According to estimates, billions worth of green electricity is currently lost every year due to so-called curtailment.

The more efficient use of green electricity “would significantly reduce the demand for gas”, says Vice Chairman Peter Strüven. Up to 50 gas-fired power plants are currently planned to compensate for fluctuations in renewable energies. As large-scale batteries enable the full use of renewable energies, fewer new gas-fired power plants would have to be built.

In addition, the need for additional capacity for renewables is decreasing. GESI has a particular focus on former coal and nuclear power plant sites. They are suitable for large-scale battery projects because the necessary energy infrastructure is available there – such as grid connections and transformer stations. The targeted total GESI capacity would be accompanied by an investment volume of several billion euros. The money is to come primarily from private sector players and institutional investors.

Contact us

Zugspitzstrasse 15
82049 Pullach

E-mail: info@gesi-deutschland.de

About GESI

GESI SE, based in Pullach near Munich, develops, plans, builds and finances efficient and digitized large-scale battery storage systems. The company has technical expertise in the construction of modern storage technology and a broad network of institutional investors. The members of the Board of Directors are: Walter Raizner (Chairman & CEO) was COO of the IBM Technology Group in the USA, Head of IBM in Central and Eastern Europe and a member of the Management Board of Deutsche Telekom. He also served as Vice President of the industry association Bitkom. // Martin Alexander Schoeller is Co-Chairman of Schoeller Holding. He also holds several advisory board mandates and honorary positions, including as a board member of the association “Die Familienunternehmer” (Bavaria). // Dr. Peter Strüven (Vice Chairman) has worked in high-ranking positions for the Boston Consulting Group, including as Chairman for the German-speaking countries and for the Asia, Australia and New Zealand region. // Dr. Nikolaus von Bomhard was Chairman of the Board of Management of Munich Re from 2004 to 2017, where he now serves as Chairman of the Supervisory Board. His other positions include Chairman of the Supervisory Board of the DHL Group. // Jens Wegmann was most recently S-Dax board member and COO at kloeckner & Co. SE. Previously, he was CEO of thyssenkrupp Industrial Solutions and Siemens Industry Solutions. He is the founder and managing director of wegmann technic & consulting GmbH.

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