System integrator Stem Inc has seen huge falls in quarterly revenue and bookings as it shifts its business model away from BESS hardware solutions towards higher-margin software and service offerings.
UK BESS fund Harmony Energy Income Trust (HEIT) has progressed the sale of its portfolio to the second round, a process which a source told us raises questions around listed funds’ role in the BESS industry.
A roundup of news from the UK BESS market, with developers ILI, Aukera, and Apatura having projects achieve planning permission, along with IPP Lightsource bp and a data centre in Wales, from the pages of our sister site Solar Power Portal.
IPP Ormat Technologies has put an 80MW/320MWh BESS in California into commercial operation, and will now leverage the investment tax credit (ITC) for which it is eligible.
A county authority in New Mexico, US, has approved an industrial revenue bond (IRB) to support the development of a BESS project from Blackstone-owned developer-operator Aypa Power.
Castleton Commodities International LLC (CCI) subsidiary S4 Energy has acquired Netherlands BESS development platform LC Energy, and its 6GW pipeline of projects, from developer Low Carbon.
Lithium-ion OEM LG Energy Solution will slow its expansion to focus on increasing utilisation at existing production lines, while also starting battery production in the US for energy storage next year, it revealed in its quarterly results.
The US Treasury and Internal Revenue Service (IRS) have finalised the rules and process for the 45X advanced manufacturing tax credit, which effectively provides a subsidy to domestic clean energy technology manufacturing, including batteries.
Transferability and the Inflation Reduction Act (IRA) have opened up tax equity financing to the wider corporate world, but significant risks remain with so many new entrants, tax credits specialist Foss & Company told Energy-Storage.news.
IPP Genera PR has chosen Tesla to provide the BESS technology for a 430MW/1,720MWh pipeline of projects in Puerto Rico, set to enter commercial operations at the end of 2025.
