Singapore-headquartered clean energy developer Vena Energy has raised AU$1.4 billion (US$970 million) in green finance to support 614MW of solar PV capacity and 1,141MWh of battery energy storage systems (BESS) in Australia.

A ‘staged approach’ to implementing the EU Battery Passport could be essential if Europe is to improve its battery supply chain.

‘We are walking with open eyes into new dependencies,’ said ReCharge’s Ilka von Dalwigk at the Energy Storage Summit.

The inertia market could be a significant contributor to the German energy mix, despite the challenges that remain.

Minimising counterparty risk is a key component of the German BESS sector, particularly amid ongoing political uncertainty.

“The word tsunami describes very well the hype that was in Germany,” said Cristina Yandiola at this week’s Energy Storage Summit.

The upcoming German capacity market must be designed in such a way that enables BESS to generate revenue, according to industry experts.

Greater clarity in both government policy and market mechanisms could be essential if the German BESS industry is to realise its potential.

The UK’s NESO has cleared 150GW of BESS from its grid connection queues, according to figures from BloombergNEF.

Swedish independent power producer (IPP) OX2 has confirmed it has started construction activities at the 100MW/300MWh Muswellbrook solar-plus-storage site in New South Wales (NSW), Australia.