A £55 million (US$67.8 million) fund has been earmarked for five projects in the UK looking at developing the next generation of battery storage technology.

The new mission focuses on local manufacturing across the whole supply chain for electric vehicles (EV) including battery and cell manufacturing while also supporting clean energy and storage uptake.

South Korea’s government is planning for 100MW of battery storage as part of a nearly 3GW hub of solar PV and wind on reclaimed land in Saemangeum, which is an estuarine tidal flat on the coast of the Yellow Sea.

Quoting an expected doubling in installed PV capacity over the next five years, a partnership between Chinese battery storage system maker BYD and European PV inverter company SMA is targeting the USA market, identifying it – along with Africa – as having “high growth potential” for the pair’s products.