Utility Octopus Energy will pay Gresham House Energy Storage Fund (GRID) a fixed fee to use half of its UK BESS portfolio, at a price which it said is ‘above the current merchant revenue stack’.
The government of Poland has proposed a de-rating factor for battery energy storage systems (BESS) in the next capacity market auction of 57%, which one developer warned would be a ‘lethal blow’ for 2- and 4-hour projects.
Business model innovation and considering how to integrate projects into the wider energy systems will be key for long-duration energy storage (LDES) companies, partners at VC firm RA Capital told Energy-Storage.news.
The US will provide US$85 million in foreign aid to the Republic of Moldova for battery energy storage system (BESS) projects as well as high voltage transmission line upgrades, secretary of state Anthony Blinken said last week (29 May).
Energy Vault has entered into an exclusive partnership with architecture firm Skidmore, Owings & Merrill (SOM) to work on projects using its gravity energy storage technology.
Harmony Energy Income Trust (HEIT) has scrapped its first quarter dividend and appointed advisors JLL to sell some or all of its BESS assets, partly to demonstrate that the fund is undervalued by the markets.
System integrator Alfen will provide a BESS for co-location with a wind farm in Sweden while aluminium company Hydro has inaugurated a solar and BESS project at one of its extrusion facilities.
Legacy power plant operator ArcLight and its development arm Elevate Renewables will deploy a 15MW/60MWh BESS unit at the Arthur Kill Power Station on Staten Island, New York City.
Battery storage thrives on energy market volatility meaning there will be good years and bad years, a panellist at Solar Media’s Renewable Energy Revenues Summit 2024 said last week.
