ROX Capital Launches Gulf Energy Storage Platform

ROX Capital Group has launched the ROX Gulf Energy Storage Platform to develop utility-scale and commercial energy storage projects in the UAE and Oman, as the Gulf region expands its large-scale solar capacity.

The UAE-based real assets investor and developer said that the platform will assess multiple energy storage technologies, including vanadium redox flow batteries, lithium iron phosphate (LFP) and sodium-ion batteries. It will also evaluate long-duration energy storage technologies such as CO₂ batteries, gravity-based storage, compressed-air energy storage and thermal storage.

ROX said  that it will partner with selected technology providers based on their track record in deploying large-scale storage projects, expertise in long-duration energy storage, financial and operational capabilities, and ownership or control of core technology intellectual property.

The platform will prioritise technology providers offering bankable systems, established manufacturing capabilities, long-term technical support, performance guarantees and warranties, according to the company.

ROX and its technology partners will participate in upcoming energy storage tenders in the UAE and Oman. The platform will also examine opportunities for local assembly and manufacturing in the region where commercially viable.

Robin Antony, Founder of ROX Capital Group, said the Gulf’s growing deployment of large-scale solar projects was increasing the need for energy storage to make renewable power available after sunset and during periods of peak electricity demand.

Antony said that no single storage technology would be able to address all energy storage requirements in the region. The platform will therefore seek to match different technologies with the specific requirements of individual projects while also exploring opportunities for local manufacturing.

ROX said that lithium-ion batteries will remain an important part of the Gulf’s energy storage mix, but regional conditions could create demand for a wider range of technologies.

High summer temperatures in the Gulf can increase cooling requirements for battery systems, while power systems with a high share of solar generation require longer-duration storage to supply electricity after sunset.

Against this backdrop, ROX said that  technologies including vanadium flow batteries, CO₂ batteries, gravity-based storage and thermal storage could complement lithium-ion systems in the Gulf market.