A tax credit transaction worth US$60 million using new transferability mechanisms from the Inflation Reduction Act has closed, for a BESS project deployed by Energy Vault for W Power and Wellhead Electric.

GE Vernova has signed a term sheet for the supply of lithium iron phosphate (LFP) battery modules from US startup Our Next Energy (ONE).

Energy-Storage.news hears how DEPCOM believes offering combined EPC as well as O&M services is a compelling proposition.

New guidance from the US government clarifying rules around tax credit incentives for energy storage and offshore wind energy has been welcomed by clean energy trade associations.

Bids have been received by Latvia’s grid operator AST for an 80MW/160MWh BESS project while developers Corsica Sole and Everon will build a 200MW system in Estonia, as the Baltic region prepares to decouple from Russia’s electricity system in 2025.

Energy storage developer Pacific Green has entered the market in Italy, acquiring a 500MW portfolio of BESS projects from developer Sphera Energy Srl which could have a duration of up to six hours.

The automotive component manufacturing unit of India’s Tata Group has supplied BESS units to an energy storage park under construction by Tata Power.

Another substantial development agreement for battery energy storage system (BESS) projects in Italy has been struck, this time between solar and storage installer Lemon Sistemi and investor Volt ESG.

We caught up with Birger Steen, CEO of lithium-ion gigafactory company Freyr Battery, about its recent decision to minimise European investments in light of the Inflation Reduction Act, discussing a potential policy response and its approach to ESS and using conventional technologies.

Wärtsilä’s decision to launch a strategic review of its energy storage & optimisation (ES&O) business, including potential divestment, may be because of its dilutive effect on the broader company’s margins, an analyst told Energy-Storage.news.