Increased confidence in the asset class has been driven by three main factors: more third party trading counterparties entering the space and offering new and innovative products, increased volatility in the trading markets and the increased market size of frequency service contracts.
Renewable energy marketplace creates a financial contract that “complements” existing power purchase agreements (PPAs) between corporations and developers.
The award of contracts to battery storage developers in a recent auction by Italy’s transmission system operator proves the technology’s competitiveness in providing grid services once again, an analyst has said.
Vena Energy Australia has achieved financial close for its 100MW / 150MWh Wandoan battery energy storage system project in Queensland and named Doosan GridTech as engineering, procurement and construction partner.
There are 7GW of battery energy storage projects that have either been proposed or are in the planning process in Australia, with the average project in that pipeline sized at around 150MW.
London Stock Exchange-listed investor Gresham House Energy Storage Fund has raised £120 million (US$159.86 million) to finance six new energy storage projects.
China deployed 533.3MW of new electrochemical energy storage projects in the first three quarters of 2020, an increase of 157% on the same period in 2019.
Barriers to financing for energy storage could hold back the growth of solar in the US, while an Investment Tax Credit (ITC) for standalone energy storage should be introduced, the audience heard as our publisher Solar Media hosted the Solar and Storage Finance USA event last week.
UK stock exchange-listed energy storage investment fund Gore Street Energy Storage Fund has applied to triple its capacity in the Republic of Ireland, up to a total of 180MW.
