An Indian government scheme to support domestic battery manufacturing received bids totalling 130GWh of proposals, more than double the anticipated 50GWh of capacity the incentives will support.
LG Energy Solution will use proceeds from its initial public offering (IPO) this month to feed into growing the company’s manufacturing capacity significantly in Europe, the Americas and Asia.
Gravity-based energy storage technology company Energy Vault has formed a strategic partnership with non-ferrous metals smelting and refinery company Korea Zinc, including a US$50 million investment commitment.
The feasibility of building large-scale liquid air energy storage (LAES) systems in China is being assessed through a partnership between Shanghai Power Equipment Research Institute (SPERI) and Sumitomo SHI FW.
The first lithium-ion battery cells have been produced at Northvolt’s new gigafactory in Sweden and a UK sodium-ion battery startup has been acquired by the solar subsidiary of India’s Reliance Industries.
The need for energy storage solutions in India to enable huge renewable energy growth makes it a promising market, Tata Power has said, after its solar subsidiary was awarded the country’s largest solar-plus-storage project to date.
