Energy storage developer Eolian has completed an investment in two standalone battery energy storage projects in Texas, which it claims is the first use of the Inflation Reduction Act’s new tax credit incentives (ITC).

German commercial and industrial (C&I) energy storage system firm Tesvolt is investing €60 million in a new manufacturing hub at its headquarters in Lutherstadt Wittenberg.

Redwood Materials will get a US$2 billion loan from the DOE’s Loan Programs Office (LPO) for its closed-loop lithium-ion anode and cathode material production plant in Nevada, US.

Testing has started on four battery storage projects in Lithuania totalling 200MW/200MWh provided by system integrator Fluence, with a view to turning the projects online in a few months.

Global battery storage system integrator Fluence grew revenues 78% and doubled its gross profit margin in October-December 2022, its first financial quarter under the helm of new CEO Julian Nebreda.

Developers Fotowatio Renewable Ventures and oEnergy have moved forward with environmental impact assessments (EIA) for two PV co-located battery storage projects in Chile, one of which is an eight-hour lithium-ion system.

Developers Taaleri Energia and Merus Power have partnered to deploy a 30MW/36MWh battery energy storage system in Finland, one of the country’s largest.

Portugal-based utility EDP has received clearance to deploy a 1MWh vanadium redox flow battery (VRFB) system as part of a hybrid energy storage project at the site of a retiring gas plant in Asturias, Spain.

Slovenia state-owned utility Dravske elektrarne Maribor (DEM) is planning two battery storage units totalling 60MW as well as a pumped hydro energy storage (PHES) plant.

US Senator Joe Manchin and fellow bipartisan colleagues have urged the Biden Administration to invest more in non-lithium energy storage technologies, while DOE Loan Programs Office head Jigar Shah expects companies developing the latter to broadly secure 1GWh orders this year.