The first large-scale solar and battery storage project to be connected to the grid in Australia has started providing power to 3,000 homes and businesses in Far North Queensland (FNQ) while forming a test case for deliberate ‘islanding’.
A US government energy saving scheme will pay out US$40 million for the development of a solar-plus-storage microgrid at a missile test site operated by the country’s military.
The European Investment Bank (EIB) has approved a loan request from Northvolt that will see the bank provide a financing facility of up to US$64.8 million to support Northvolt’s pilot demonstration facility.
London-headquartered oil and gas company BP has announced plans to invest US$500 million (£358.5 million) in low carbon businesses each year as it looks to further embrace the low carbon transition.
A spokesman for S&C Electric has confirmed the company will no longer be producing its power conversion system (PCS) for energy storage systems but will remain in the market as a system integrator.
African Infrastructure Investment Managers (AIIM) has invested in Starsight Power Utility, a Nigeria-based energy services company providing solar-diesel-battery hybrid and efficient cooling and lighting solutions to its commercial and industrial clients.
IFC, a member of the World Bank Group, and the government of Canada have formed a financial partnership that will utilise public funding to generate private sector investments to spur renewable energy, including energy storage, in Sub-Saharan Africa.
VC funding for energy storage projects increased significantly, while debt and public market financing remained “steady” during 2017, Mercom Capital has found.
