European lithium-ion battery developer and manufacturer Northvolt has secured a US$5 billion (€4.6 billion) non-recourse project financing package from various EU and Nordic institutions for its manufacturing and recycling plants.

Australia runs a great risk of failing to meet its ambitious but achievable renewable energy goals, writes Stephanie Bashir, CEO of Nexa Advisory, who explains why utility-scale energy storage is among the crucial tools in the country’s energy transition toolkit.

The National Energy and Climate Plans (NECPs) of European Union (EU) Member States are largely falling short in recognising the vital role of energy storage, the Energy Storage Coalition has said.

Developer Exagen has been granted planning approval for a 500MW/1,000MWh battery energy storage system (BESS) project in Leicestershire, UK.

Energy storage projects will be eligible to take part in competitive capacity auctions for low-carbon power set to be launched this month by the Japanese government.  

Gas and geothermal plant developer and operator Calpine Corporation has closed a syndicated financing for what could be one of the largest battery energy storage system (BESS) projects in the US.

Energy storage developer NineDot Energy has secured financing from investors including Manulife Investment Management to progress its pipeline of New York projects.

BESS developer and operator Plus Power has brought a 185MW/565MWh project online in Hawaii, US, which it claimed is the “most advanced grid-scale BESS in the world”.

The increasing cost-competitiveness of LFP battery cells has made first life batteries more attractive than second life ones, Finland-based BESS solutions firm Cactos told Energy-Storage.news after a €26 million (US$28.5 million) fundraise.