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While the 83% year-on-year drop sounds dramatic, Q1 2022 was an outlier due to the inclusion of LG Energy Solution's US$10.7 billion IPO which itself accounted for 83% of that quarter's total. Image: Solar Media using Mercom Capital data.

Corporate funding for battery storage companies slows down in Q1 2023

April 18, 2023
Corporate funding activity into battery storage companies in the first quarter of 2023 fell considerably year-on-year and quarter-on-quarter, according to research from Mercom Capital.  
Commercial rooftop solar installation in Vietnam, which has plenty of solar PV, but very little energy storage. Image: Sungrow

Asian Development Bank partnership prioritises Vietnam BESS rollout, Indonesia coal phaseout

April 18, 2023
Vietnam’s energy storage sector a priority for Asian Development Bank and Global Energy Alliance for People and Planet funds.
Battery energy storage system (BESS) equipment at the factory of Turkish system integrator Inovat. Image: Inovat.

Turkey begins energy storage licensing with over 200GW of applications received

April 17, 2023
Turkey pre-licensing energy storage facilities paired with renewables, with around 20GW expected to be granted within three years.
Tesla megapack shanghai Lin-gang Special Area Administration agreement 40gwh

Tesla chooses Shanghai for next Megapack factory; targets 40GWh production

April 11, 2023
Tesla will start producing Megapacks, its utility-scale energy storage product, from a new plant in Shanghai from Q2 2024.
Unveiling of Tata Power DDL's 528kWh 'community energy storage system' by Delhi government minister Satyender Jain in March 2021. Image: Tata Power DDL.

Asian Development Bank pledges grant funding for Tata Power Delhi Distribution battery storage pilot

April 11, 2023
The Asian Development Bank is providing financing to Tata Power Delhi Distribution Limited towards a 10MWh pilot project in Delhi, India.
Vanadium ore. Image: Australian Vanadium.

Startup Elcora wants vanadium pentoxide plant near mine in Morocco to feed flow batteries

April 6, 2023
Elcora is developing a vanadium pentoxide plant in Morocco to complement raw materials extraction.
CATL EnerC liquid-cooled BESS unit at a March 2023 trade show in Tokyo, Japan. Image: CATL

Chinese clean energy players CATL, Jinkosolar, Sungrow take battery storage to Japan market

March 21, 2023
At World Smart Energy Week in Japan last week CATL, Jinkosolar and Sungrow exhibited battery storage products.
Edison Power and Gotion executives sign the deal. Image: Gotion High-Tech.

Gotion enters Japanese large-scale battery storage market with Edison Power agreement

March 20, 2023
Gotion High-Tech has continued recent moves into new markets across Asia, signing a deal with Japan’s Edison Power.
The agreements were signed on 4 March, covering financing and offtake deals. Image: Ministry of Energy, Republic of Uzbekistan.

ACWA Power signs Uzbekistan investment agreements for solar PV, 1.2GW battery storage

March 8, 2023
ACWA Power has signed agreements to develop 1.4GW of solar PV and 1.2GW of energy storage projects in Uzbekistan.
The signing ceremony was held yesterday. Image: ACWA Power.

Kazakhstan sovereign wealth fund in 1GW wind and battery storage deal with ACWA Power

March 3, 2023
ACWA Power has signed a partnership agreement to develop a large-scale wind energy and battery storage project in Kazakhstan.

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