Over a gigawatt of bids from battery storage project developers have been successful in the first-ever competitive auctions for low-carbon energy capacity held in Japan.

After coming down last year, the cost of containerised BESS solutions for US-based buyers will come down a further 18% in 2024, Clean Energy Associates (CEA) said.

Market analytics firm Modo Energy recorded the lowest average revenue levels to-date for UK BESS projects in December 2023, the firm said.

Developers in the US plan to install 15GW of new utility-scale battery storage, adding to about 16GW of storage installed so far, according to government statistics.

Winner of the Outstanding Contribution at the Energy Storage Awards 2023, Alex O’Cinneide, founder and CEO of Gore Street Capital takes part in our end of year Q&A series.

UK-based utility and IPP Octopus Energy has entered the energy storage market in Italy, forming a joint venture (JV) with developer Nexta Capital to deploy up to 1.5GW of BESS.

Germany-based EV charging and BESS integrator ADS-TEC has installed eight units comprising a 20MW battery energy storage system (BESS) in Sweden.

California now has 6.6GW of battery energy storage systems (BESS) online, while Gore Street has secured US$60 million in financing for its 400MWh project in the state.

India’s cabinet has approved a 13GW renewable energy project, with a 7.5GW solar park, in the most northern state of Ladakh.

Company valuations and developer premiums for project sales have come down in the UK market amidst rising financing costs and plummeting revenues.