World leaders attending COP29 next month have been encouraged to sign a pledge to collectively increase global energy storage capacity to 1,500GW by 2030.

Energy storage developer Energy Vault has inked a new partnership with Enervest Group to supply a 1GWh battery energy storage system (BESS) in New South Wales, Australia.

Australia’s energy minister, Chris Bowen, confirmed yesterday (21 October) that the government is seeking around 4GW of dispatchable power, such as energy storage, and 6GW of renewable energy generation in the next Capital Investment Scheme (CIS) tender round.

Australian zinc-bromide flow battery manufacturer Redflow has ceased operations with administrators unable to find a buyer.

Technology provider and system integrator Wärtsilä has been selected to provide its Quantum High Energy storage technology for a 300MWh battery energy storage system (BESS) in South Australia.

Penny Sharpe, the New South Wales energy minister, has announced plans to legislate a new long-duration energy storage (LDES) target for the Australian state of 28GWh by 2034.

While there is much more variety in the BESS supply landscape today, there are relatively few suppliers able to offer products for ‘grid-forming, enduring infrastructure assets’, developer and operator Dais Energy’s CEO said.

Australian startup Green Gravity has secured AU$9 million in Series A capital funding to complete product development of its gravity-based energy storage technology.

Solutions provider nVent on the industry’s increasing demand for energy storage systems with smarter design and technology to deliver a smaller footprint.

India’s government-owned National Thermal Power Corporation (NTPC) has launched a tender to deliver a 100MW/400MWh battery energy storage system (BESS).