The European Commission has approved a €1.1 billion (US$1.2 billion) scheme from the government of Hungary to support large-scale energy storage projects.

Renewable energy developer TagEnergy has closed a €570 million (US$622 million) green bond for its solar, wind and energy storage pipeline in the UK, Europe and Australia.

Neoen has appointed its construction partner for the first phase of what could be a 1GW/4GWh battery storage project in Western Australia.

The Investment Management Corporation of Ontario (IMCO) has bought convertible notes worth US$400 million in European lithium-ion gigafactory firm Northvolt.

The US National Renewable Energy Laboratory (NREL) has updated its long-term battery energy storage system (BESS) costs through to 2050, with costs potentially halving over this decade.

The US Internal Revenue Service (IRS) has revealed how smaller and tax-exempt organisations can take advantage of clean energy investment tax credits (ITC), with guidance on direct pay and transferability.

Network solutions company Alcemi has been granted planning permission to develop one of Europe’s largest energy storage facilities.

The Regulatory Authority for Energy (RAE) in Greece has launched an auction for grants towards 400MW of energy storage, with three weeks to submit project proposals.

American Battery Solutions has partnered with lithium-ion battery manufacturer Eve Energy to procure 5GWh of LFP lithium-ion cells a year for its TeraStor platform.

A vote to approve proposals for the European Union’s Batteries Regulation has been welcomed by trade groups.