South Africa needs to prioritise grid-located battery storage if it is to overcome the ongoing ‘load-shedding’ power outage crisis plaguing the country.

The International Finance Corporation (IFC) has signed a US$400 million loan to ENGIE Energía Chile S.A. (ENGIE Chile) to fund the installation of new Battery Energy Storage Systems (BESS).

Hydrostor “remains fully committed” to its 4GWh advanced compressed air energy storage (A-CAES) project in California, its president told Energy-Storage.news as it considers alternative locations and delivery dates.

Projects in Massachusetts have been granted key approvals, ending a situation described as a regulatory “black hole” by one local news outlet.

London-based investor NextEnergy Capital has closed a US$480 million tranche of investment in its NextPower V ESG (NPV ESG) fund, which is targeting solar and battery storage.

China-based, energy storage-focused lithium-ion battery manufacturer Hithium has raised US$621 million from private investors.

More similarities exist between the business models of trading energy from batteries and other, more ‘traditional’ types of asset than many people realise.

PV inverter manufacturer and energy storage solutions provider Sungrow will supply a 100MW/260MWh BESS for a UK project.

In June, Japanese renewable energy developer Pacifico Energy made the first trades from BESS assets in the country’s power markets.

Cost disclosure requirements needed in order to qualify for IRA’s investment tax credit (ITC) domestic content adder could prove problematic for ESS providers, sources told Energy-Storage.news.