A second life energy storage assembly plant has opened in Germany, amidst a rapid fall in battery prices which could threaten the economics of repurposing EV batteries into stationary units.
Investment manager Quinbrook Infrastructure Partners has closed funding for its Valley of Fire Fund, raising US$600 million in capital commitments from what it called “leading US and European institutional investors”.
Developer Monsson Group and system integrator Prime Batteries Technology have inaugurated a 6MW/24MWh battery energy storage system (BESS) in Romania, the country’s largest.
The government of Alberta, Canada, has selected advanced and clean energy projects to receive CA$33.7 million (US$24.83 million) in grant funding, including a hydroelectric-plus-supercapacitor technology pilot.
Hyperstrong, the largest BESS system integrator in China, is targeting the US energy storage market after becoming one of the largest providers globally.
Battery manufacturer LG Energy Solution has started construction on its gigafactory in Arizona, US, which will have 17GWh of production dedicated to the energy storage system (ESS) market.
The US government has announced US$4 billion in tax credits for over 100 projects under the Qualifying Advanced Energy Project Tax Credit (48C) scheme.
The BESS ‘land grab’ looks set to continue as Tier 2 companies vie for market share before countries potentially curb imports from China, with one developer suggesting the recent CATL-Duke Energy case will “not be unique”.
