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.

IPP JCM Power and the US Trade and Development Agency (USTDA) are procuring a feasibility study for a project in Malawi combining a 50MW wind and 100MWh BESS.

Automotive group Mercedes-Benz has inaugurated what it claimed is the first integrated hydrometallurgical facility in Europe for battery recycling in Baden-Württemberg, Germany.

A total of US$17.6 billion was invested in the energy storage industry across 83 announced deals in the first nine months of the year, according to comms and market intelligence firm Mercom.

A roundup of news from Europe, with Alfen and Sermatec deploying BESS projects in Sweden and Bulgaria and new firm terralyr raising €77 million for project development and operation, starting in Germany.

Developer and IPP Elevate Renewables will deploy a grid-forming BESS at a fossil fuel peaker plant in Connecticut, US, with US$27.5 million from the Department of Energy (DOE).

Gore Street Energy Storage Fund will provide a Goldman Sachs subsidiary with power from its Big Rock BESS in California via a 12-year, fixed price Resource Adequacy (RA) contract.