Lithium-ion OEM LG Energy Solution will slow its expansion to focus on increasing utilisation at existing production lines, while also starting battery production in the US for energy storage next year, it revealed in its quarterly results.
Singapore’s government and Energy Market Authority have announced power sector and grid enhancements, including a possible expansion of Southeast Asia’s biggest battery storage plant.
A total of US$17.6 billion was invested in the energy storage industry across 83 announced deals in the first nine months of the year, according to comms and market intelligence firm Mercom.
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.
