News from Texas and California as OCI Energy signs a memorandum of understanding with LG Energy Solutions, Ormat Technologies signs a US$62 million hybrid tax equity for Texas and California BESS projects.

Spanish independent power producer (IPP) Grenergy has planned to invest €3.5 billion (US$3.9 billion) to increase its energy storage and hybrid portfolio by 2027.

Energy tax credits “drive innovation, strengthen our economy, and create real opportunity,” according to US Republican Senator John Curtis.

Ingrid Capacity and SEB have broken ground on a large-scale BESS in Finland, while Monsson has acquired a project in Sweden which it will start building in June.

Ampyr Australia and Copenhagen Infrastructure Partners are seeking buyers for 960MWh and 1,000MWh BESS projects in Australia.

Even during times of turmoil for the US renewable energy industry, IPPs are continuing to secure long-term offtake agreements in California.

Utility and power generation firm RWE will trade 50MW/100MWh of BESS capacity in Germany from the virtual aggregation platform of startup Terralayr under a five-year agreement.

Sungrow and Globeleq are negotiating a deal to supply equipment for a 612MWh government tender-winning battery storage project in South Africa.  

Italy and Spain are set to soar as energy storage markets with multiple gigawatt-hours under construction and much more in the pipeline, but there are questions around the regulatory frameworks driving deployments in each country.

A ‘smart energy’ subsidiary of Japan’s biggest telecommunications company, NTT, has launched an energy storage plant services division.