Under the terms of this agreement, both groups will combine their expertise in order to design and propose energy storage solutions that guarantee the reliability of electrical grids for isolated sites and areas where access to power is limited.

Specifically, Areva will provide the Greenergy Box™, energy storage solution made with an electrolyzer and fuel cell. This is used to store hydrogen and oxygen from water electrolysis during periods of low energy demand in order to produce electricity during peak consumption periods.

Schneider Electric delivers integrated solutions focused on making energy safe, reliable, efficient, productive and green. The signature of this agreement with Areva will enable Schneider Electric to achieve grid parity for renewable energies while managing their intermittency and optimising network connection. As such, Schneider Electric strengthens its unique position to connect all smart grid players.

“This agreement will create a robust commercial partnership for deploying an innovative solution in energy storage," said Frédéric Abbal, executive vice president of Schneider Electric’s Energy Business. "AREVA will capitalise on the international presence of Schneider Electric and its leadership in electrical grid management, utilities & infrastructures, industrial and nonresidential commercial buildings.”

Louis-François Durret, Areva Renewables CEO, concurred, adding that the deal places both companies as prominent players in this promising market.

This latest partnership marks the second for Areva since the start of 2014. Back in January,Areva formed an alliance with Gamesa.