Lenders are increasingly willing to back large-scale BESS projects in Germany that don’t have any contracted revenues, although that merchant risk is priced in to structures, an executive at Aquila Clean Energy EMEA said.
Large-scale BESS projects have been progressed in Italy, Romania, Germany, Poland, Denmark and elsewhere in Europe, totalling around 1GW under construction, 1GWh soon to be, and another 1GWh at earlier stages.
China-headquartered energy storage firm Gotion and US power electronics manufacturer Richardson Electronics have partnered to manufacture BESS. It comes at a time when Chinese companies are starting to sell down stakes in US assets amid new FEOC rules.
A total of 4.5GW/12.8GWh of large-scale BESS capacity when into operation around the world last month, with Asia and South America showing strong figures.
We catch up with Ingmar Wilhelm, co-founder and CEO of developer and IPP Galileo, after the firm commissioned its first own-operate renewable energy project.
South Africa’s TSO Eskom and energy storage technology firm Energy Vault have partnered to deploy projects using the latter’s gravity-based technology.
BayWa r.e. will manage and maintain Germany’s largest operational BESS when it comes online later this year, while Terra One has started building a smaller project in the same state.
The US clean energy manufacturing industry is starting to undergo a wholesale restructuring and recapitalisation as companies look to reduce their exposure to numerous risks, including FEOC.
