UBS Asset Management has secured financing for a 730MW/1,049MWh battery storage portfolio in Texas via two commercial banks.

Eolian, BrightNight and esVolta, three US-headquartered developers and independent power producers (IPPs) with energy storage projects in their portfolios and pipelines, have each announced major financing.

Renewables developer Clearway Energy Group has closed a US$700 million construction financing on a portfolio of solar and storage projects in California, US.

Akaysha Energy has closed financing for a battery storage project in New South Wales, Australia that is planned to be in excess of 1,660MWh capacity.

Emerging energy storage markets across Asia face a similar learning curve today as their maturing counterparts have done in the past.

Recurrent Energy has closed US$513 million financing on a battery storage project in Arizona, US, which has a 20-year utility tolling agreement in place.

The CFO of Goldman Sachs-backed US battery storage developer-operator GridStor discussed its recent investment tax credit (ITC) transfer deal for a California BESS project, highlighting some downsides as well as positives from the new mechanism.

Developer and operator EsVolta has secured a US$185 million senior secured credit facility for its US battery energy storage system (BESS) project pipeline.

Pacific Green has secured £123.5 million (US$153 million) facility to support construction of its 1.5-hour, 249MW/373.5MWh BESS in Kent, UK.

Reducing exposure to merchant risk is key to making banks comfortable with lending money for hybrid renewables-plus-storage projects.