Blackstone and Foss & Company have completed transferability investment tax credit (ITC) deals for BESS projects in California and Texas, a market which has grown “faster than anyone expected” according to tax credit ecosystem Crux.

Blackstone Credit & Insurance, the newest business division of global asset manager Blackstone, has closed financing for a large-scale battery storage project in California, US, with developer Arevon.

Multinational utility and IPP RWE has started building its first battery energy storage system (BESS) project in the Netherlands.

Swiss-headquartered independent power producer (IPP) Axpo has brought its first BESS project in Sweden online, a 20MW/20MWh system in Landskrona.

Equis Australia and the State Electricity Commission have secured AU$400 million in financing for their Melbourne Renewable Energy Hub (MREH) battery storage project.

Zinc-bromine flow battery technology company Redflow has received a grant award and notice-to-proceed (NTP) for two projects in California, US, totalling 21.6MWh.

This week’s Friday Briefing is largely concerned with the UK’s current period of low revenues for battery storage and how the market can move forward.

EDF Renewables UK has entered into an optimisation agreement with investors DIF and ib vogt to optimise a co-located solar and storage project in the UK.

Spain-headquartered Ingeteam has landed a deal to provide power conversion system (PCS) equipment for a solar-plus-storage in Chile with, according to its developer Grenergy, the world’s largest BESS.

Lawyers from Herbert Smith Freehills discuss the challenges for the nascent European gigafactory ecosystem in light of heavy competition from the US and China, alongside the role that energy storage system (ESS) demand will play.