Industry-watchers will closely follow how the recently completed acquisition of energy storage system integrator NEC ES by LG Energy Solution pans out.
LG Energy Solution, the battery technology arm of South Korea’s LG Group, has completed its acquisition of 100% ownership in battery energy storage system (BESS) integrator NEC ES.
Demand for batteries in India will rise to between 106GWh and 260GWh by 2030 across sectors including transport, consumer electronics and stationary energy storage, with the country racing to build up a localised value chain.
Independent power producers (IPPs) Greenko and Ayana Renewable Power will leverage large-scale energy storage to give industrial customers in India ‘round-the-clock’ renewable power supply.
Asia-Pacific will overtake North America as the biggest utility-scale energy storage (UES) market by annual installed gigawatts (GW) by 2024-2025, according to a new report by Guidehouse Insights, one to two years later than in the firm’s previous forecasts.
Responding to increasing demand for dispatchable renewable energy resources, GE Renewable Energy has opened a factory for ‘Renewable Hybrid’ technology solutions and equipment in Chennai, India.
A 100MWh gravity-based energy storage system developed by Energy Vault is expected to begin construction in China in the second quarter of this year, the Swiss-American startup has claimed.
The Indian government’s decision to classify grid-scale energy storage as infrastructure addresses the industry’s “biggest concerns” by making investments easier to facilitate, Energy-Storage.news has heard.
A clarification of the status of energy storage systems (ESS) in India’s power sector, issued by the government’s Ministry of Power, has described the various technologies as “essential” to achieving national renewable energy goals.
Battery storage companies raised 159% more corporate funding in 2021 than in 2020, with funding activity reflecting the “significance of battery energy storage in the energy transition,” analysis group Mercom Capital has said.
