Much more needs to be done to ensure that European countries create the right investment environment for flexibility resources in the electricity system, writes Eaton’s Siobahn Meikle.
Commissioning has been completed on the first commercial-scale project using Energy Vault’s gravity energy storage technology, while the firm has also secured a 400MWh BESS order for a project in Australia. However, it expects revenues this year to be 70-85% lower than 2023.
New rules which will reduce grid fees in the Netherlands by providing ‘non-firm agreement’ (NFA) connections as well as time-weighted rates could improve returns and double projected BESS deployments, an analyst has said, though a project owner was less openly optimistic about it.
Global battery energy storage system (BESS) integrator Fluence saw an 11% revenue drop in revenues in the three months ending 31 March, 2024, while it is also launching a higher energy density product and US module production this year.
Europe appears to be slower and less bold than other markets like the US when it comes to financial support for upstream battery material projects like lithium refining, a company looking to invest half a billion euros in an EU project told Energy-Storage.news.
Iron flow battery company ESS Inc will provide Nigeria-based IPP Sapele Power 1MW/8MWh of its systems, it announced while also revealing its first quarter financials.
Large-scale long-duration energy storage (LDES) projects have been launched near Cyprus and in the UK, using technologies from BaroMar and RheEnergise that are an iteration of established LDES technologies.
Storage developer and operator Lightshift Energy will deploy numerous distributed BESS projects totalling 50MW for various utilities via the Massachusetts Municipal Wholesale Electric Company (MMWEC).
Zambian developer GEI Power and Turkish energy technology firm YEO are aiming to have a 60MWp PV, 20MWh BESS project in Zambia online by September 2025.
