The US Trade and Development Agency (USTDA) is continuing its mission of funding priority development projects in emerging economies, this time by signing two grants that leverage US technology and investment to increase access to affordable, reliable electricity in Kenya.
Clearly, renewable energy is now a viable alternative to traditional generation from a cost perspective. However solar and wind’s penetration of the grid is constrained by ageing infrastructure, high grid connection costs and their intermittent, weather-dependent nature. Scott McGregor looks at how long-duration energy storage on an industrial scale can help.
French hybrid energy storage solutions provider Electro Power Systems has secured an equity-linked financing deal to the sum of €30 million (US$31.88 million) with the European Investment Bank (EIB).
