Industry

A roundup of the biggest projects, financing and offtake deals in the sector that Energy-Storage.news has reported on this year.

Fluence executives said the company is on track to grow its revenues by almost a third on a “multi-year” basis, leading it to break even on an EBITDA basis in 2024.

New Zealand state-owned energy company Meridian Energy has committed to the construction of a 100MW battery energy storage system (BESS), to be provided by Saft.

German independent power producer (IPP) ILOS Projects has secured a €500 million (US$531 million) structured finance facility from global energy and infrastructure investor EIG, intended to fund ILOS’s plans for over 2GW of solar and battery storage capacity by 2026.

Eight large-scale battery energy storage system (BESS) projects in various parts of Australia have been selected to receive funding support worth AU$176 million (US$118.07 million).

The power solutions arm of Mitsubishi Heavy Industries will deploy three co-located battery storage projects for Origis Energy in the Southeast United States.

California-based firm Element Energy has raised a US$28 million Series B to accelerate its proprietary BMS-enhanced second life energy storage solution, with 2.5GWh of modules secured already.

In the past few days, policymakers at the European Union (EU) have made decisions on a couple of key aspects of legislation relating to energy storage that have been welcomed by industry group EASE.

Utility Eneco and Corre Energy have signed an agreement for the latter to deploy a 320MW, 84-hour duration compressed air energy storage system (CAES) in Groningen, the Netherlands.

South Korea’s largest electric utility will try out seven vanadium redox flow battery (VRFB) energy storage systems made by Invinity Energy Systems.

Battery storage developer Spearmint Energy has started building a 150MW/300MWh unit in the ERCOT, Texas market, its first project.

A large-scale renewable energy hub in Queensland, Australia, which will include a 16-hour duration pumped hydro plant has been acquired by Copenhagen Infrastructure Partners (CIP).

During the first China-Arab States Summit last week, Sungrow signed a battery storage supply agreement for Neom, Saudi Arabia’s new ‘smart city’ megadevelopment.

China-based battery cell OEM CATL and UK energy storage investor Gresham House have entered into a long-term agreement for the supply of 7.5GWh of BESS, potentially rising to 10GWh.

Developer Kyon Energy, investor Obton and system integrator ECO STOR have commissioned 27.6MW/32.4MWh of battery storage across two sites in Germany.

The government of New South Wales (NSW) has pledged financial support to a pumped hydro project, while the state’s first grid-scale battery system has entered full commercial operations.

Battery storage projects from Hynfra Energy Storage and OX2 totalling 130MWh have won contracts in energy auctions in Poland this week.

Amazon Studios has begun swapping out diesel generators for mobile battery energy storage system (BESS) equipment at sets for its TV and film productions in the US.

Gotion High-Tech’s local subsidiary aims to build a battery pack and module gigafactory in Thailand targeting the electric vehicle (EV) and stationary storage markets.

The California Independent System Operator (CAISO) has enacted market rule changes to make it easier for energy storage to provide grid ancillary services and help grid reliability.

South Africa’s grid operator Eskom has issued a procurement notice for two grid-scale battery projects totalling 36MW/146MWh of energy storage, while the state-owned company’s CEO resigned this week.

Europe needs to act now to prevent an outflow of investment from its burgeoning battery manufacturing ecosystem in light of the US’ Inflation Reduction Act, the EU-founded European Battery Alliance (EBA) has said.

The European Union parliament has voted on amendments to REPowerEU which will see its accelerated permitting for renewable projects expanded to include standalone energy storage.

Australian energy ministers’ recent agreement to launch tenders for a mix of renewable energy and energy storage is a “major breakthrough in federal policy”.

Energy storage plays an important role in more than just the electricity sector in a plan for the “deep decarbonisation” of New York State approved this week.

The mismatch between supply and demand for lithium batteries presents a challenge to the global transition to sustainable energy and the role energy storage will play in it. Andy Colthorpe hears how the dynamics are playing out, and how the challenge can be overcome.

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