Japanese trading house Itochu has invested £5 million (US$7.04 million) into UK-based energy storage and related services provider Moixa, which will enable Itochu to add Moixa’s ‘GridShare’ aggregation platform to its own suite of battery storage solutions.
VC funding for energy storage projects increased significantly, while debt and public market financing remained “steady” during 2017, Mercom Capital has found.
Stem Inc, self-described as a supplier of “artificial intelligence-powered” energy storage, which deployed a system on average every two days last year, has closed a US$80 million Series D financing round.
The addition of energy storage has made a 1MW community rooftop solar project in Massachusetts viable, after a long-term PPA was secured with a local utility.
The start of construction on India’s largest energy storage project is not only of strategic importance to regulators, but could also drive another wave of utility-scale projects in India, the chief of the country’s storage Alliance has said.
Four projects have been awarded £42 million (US$59.6 million) of UK government money between them to conduct research aimed at overcoming battery challenges, mainly focused on electric vehicles.
ADS-TEC has just completed and connected a 2.5MW energy storage system in Germany, designed to smooth the variable output of wind power generation, while RES Group has just been awarded a 10MW energy storage project contract in the same country.
Solar Energy Corporation of India (SECI) has reached out to industry to establish how much interest there is in providing EPC services for a 160MW solar-wind hybrid project coupled with energy stroage in the state of Andhra Pradesh.
