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

Developers Innova and Banks Renewables have progressed two large-scale battery energy storage system (BESS) projects in the UK totalling 3.7GWh of capacity.

Pacific Green has followed its ramp up of activities in the UK with moves to secure land for a pipeline of projects in Australia.

Developer Redelfi and investor WRM Group have signed a term sheet to create a joint venture (JV) targeting 2.8GW of standalone battery storage investments in Italy over a three-year period.

Ameren Missouri aims to procure 800MW of battery storage, representing US$650 million investment, in its service area connected to MISO grid.

Quinbrook Infrastructure Partners has raised £620 million (US$750 million) for a UK-focused renewables fund, with solar, storage and flexibility assets a key focus.

Substantial growth in China’s domestic energy storage market has led to locally-based players Sungrow and Hyperstrong becoming top five system integrators globally, S&P Global Commodity Insights said.

Developer Terra-Gen will now investigate the cause of a fire at its Valley Center BESS in California, with public safety measures lifted and the incident considered “over”.

Battery storage plays an important role in adding resilience to energy networks. But it should also be remembered that natural catastrophes can affect BESS resources too, writes Ross Kiddie of bespoke battery insurance company Altelium.

Confirming reports made earlier this week, UK battery storage developer Zenobē Energy has secured c.£600 million from investment firm KKR.