Multinational utility Engie and renewables developer Neoen are to invest €1.2 billion (US$1.46 billion) in a large-scale solar-plus-storage project in south eastern France, which includes a 1GW solar system and 40MW of battery energy storage.
Renewable energy marketplace creates a financial contract that “complements” existing power purchase agreements (PPAs) between corporations and developers.
The cost of Lithium-ion battery packs has fallen close to 90%, and rates lower than US$100/kWh have been reported for the first time, foreshadowing rapid declines across the energy storage market.
Renewable energy developer Terra-Gen has partnered with construction firm Mortenson to build what the pair claim is the world’s largest standalone solar-plus-storage project to date.
