Charlotte Gisbourne, market analyst at PV Tech Research discusses trends and movements in the Q1 2025 edition of the EnergyStorageTech Bankability Ratings report.

February 2025 saw around 4.5GW/10.5GWh of grid-scale BESS deployments globally, with China continuing to account for the majority but Europe increasing its share from January.

China-based lithium-ion OEM Gotion has launched a 7MWh BESS DC block product and claims over 7GWh of deals already.

A utility in Dubai, UAE, has launched launched an expressions of interest (EOI) call for a solar and storage project.

Egypt’s government has signed contracts with developer AMEA Power for two large-scale battery energy storage projects, the country’s first.

US renewable energy company Ormat Technologies has won a tender for two separate 15-year tolling agreements for two energy storage facilities with a combined capacity of 300MW/1,200MWh.

EV and BESS firm BYD has agreed a major order from the Saudi Electricity Company, the state utility and transmission & distribution (T&D) system operator of Saudi Arabia.

A total of 5.2GW/13.8GWh of grid-scale BESS capacity came online in January 2025, of which over two thirds was in China.

A few weeks ago, a battery recycling deal was announced for a 640MWh BESS project in Australia, but the project isn’t even built yet and the cells have 25-year warranties – we caught up with the company recycling the batteries to hear more.

LG Energy Solution is ‘proactively responding to market volatilities’ that have seen the South Korean battery manufacturer’s annual operating profits slide 73.4%.