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.

Origis Energy has obtained a US$750 million credit facility for its solar and energy storage development project pipeline in the US. 

Zenobē Energy has started construction of a 300MW/600MWh battery energy storage project in Blackhillock, Scotland.

This edition of news in brief from around the world in energy storage comes from our UK colleagues at Solar Power Portal.

Munich-headquartered international banking firm Berenberg has provided debt financing for two battery energy storage projects in eastern Germany totalling 32MWh.

Harmony Energy has secured a £60 million debt facility from major UK retail and commercial banking group NatWest.

The opportunities for energy storage in the US continue to grow and grow, but moving away from contracted revenue structures to merchant risk projects will be a challenge, especially for lenders.