| | JULY 20229CIOReviewexceed certain environmental,social and governance (ESG) requirements. Notably,Blackrock, one of the world's largest infrastructure investors, made news in 2020 when it said it would no longer support new coal-fired investments in its portfolio. Best with BESSWhile renewable generation often offers lower costs and desirable environmental attributes, its output is inherently variable, thus creating challenges for grid operators who have to balance electrical generation supply with demand continuously. To provide dependable electrical supply, battery energy storage systems (BESS) capture low-cost energy and discharge it during higher-demand (higher-price) periods when renewable energy supply is otherwise reduced. These BESS modular systems can be quickly designed, configured and constructed utilizing excess space adjacent to or replacing existing fossil-fuel electrical generators. Location, Location, LocationLarger, utility-scale renewable projects are typically located where land is plentiful and often have to rely on ever more constrained electric transmission systems to deliver energy to demand centers. However, existing fossil fuel plants are likely to enjoy electrical interconnections that could be preserved, allowing the new BESS at "old"plants to deliver electricity while maintaining their existing point of interconnection. By preserving their spot in the electrical interconnection queue, existing generating resources can take advantage of reduced transmission-related charges and shorten the amount of time needed to deliver power to the grid. Everything Old Is New AgainRenewable generation is projected to be the dominant form of new electric generation resources. BESS systems installed at existing fossil sites provide a responsive, cost-effective solution that supports ESG goals while enhancing grid reliability. Supporting renewable generation has been widely adopted by many leading U.S. technology companies, with some pledging to have all of their energy needs supplied by renewable resourcesThe Middle East is expected to witness 598 projects to commence operations during the period 2022­2026, with Iran leading in the expected project landscapeQuickbytes
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