Germany-based flow battery company VoltStorage has been granted a venture debt loan of €30 million (US$33 million) by the European Investment Bank (EIB), guaranteed by the European Commission.
US developer Broad Reach Power has closed US$435 million in financing to start construction on 880MW of battery storage projects in the CAISO and ERCOT markets, for 2023/24 commissioning.
Utility and network operators RheinEnergie and Bayernwerk have respectively started building and commissioned 7MWh battery storage projects in Germany.