The success of an auction for fast reserve grid services held by Italy’s transmission system operator (TSO) indicates a strong appetite for battery storage, but market rules and regulations need some revision to capture that opportunity.
Energy market mechanisms must evolve in order to support long-duration energy storage, with the existing frameworks having “significant problems” incentivising those technologies, a panel of experts has concluded.
Participation in the UK’s recently-launched Dynamic Containment (DC) frequency response service has exceeded 400MW of assets with the enrolment of investment fund Gore Street Capital’s 9MW Port of Tilbury battery storage project by optimiser Origami Energy.
LG Energy Solution, formerly known as LG Chem, is offering free replacements to customers for some of its battery energy storage systems sold in Australia due to potential defects that could cause overheating.
Malta Inc, developer of a grid-scale electro-thermal energy storage technology, has closed a Series B funding round, raising US$50 million from investors that include Facebook co-founder Dustin Moskovitz.
Australia’s Clean Energy Finance Corporation (CEFC) has invested AU$160 million (US$127.6 million) in a 300MW battery storage project near Geelong, Victoria.
With the US having rejoined the Paris Accord on the climate crisis last week, President Joe Biden has now signed an Executive Order which identifies the importance of mitigating risks in the supply chain for “large capacity batteries”.
