Turkish group Kontrolmatik Technologies has increased the output of its planned energy storage-focused gigafactory in the US by 50%, thanks to the Inflation Reduction Act (IRA) which passed today.

European energy storage is still held back by regulation but Greece is a bit further ahead, specialist battery insurance group Altelium told Energy-Storage.news while discussing take-up of its new product.

VoltStorage, a developer and maker of energy storage systems using vanadium flow batteries, has raised €24 million (US$24.3 million) in a Series C.

The World Bank has provided guarantees for US$24 million of equity and shareholder loan investments into a 20MW solar-plus-storage project in Malawi.

The UK will have 50GW-plus of energy storage installed by 2050 in a best case scenario attainment of net zero, according to grid operator National Grid’s Future Energy Scenarios report.

State-owned Irish electric utility ESB has opened a 19MW/38MWh battery energy storage system (BESS) in Aghada, County Cork, provided by system integrator Fluence. 

Energy asset developer Rise Light & Power will redevelop its 2,480MW Ravenswood Generating Station – New York City’s biggest power plant – as a new renewable energy hub including on-site energy storage.

Battery energy storage systems (BESS) cost base has increased 25% in the past year, the head of storage for global energy technology group Wärtsilä told Energy-Storage.news.

Grid operators in the Netherlands are trialling the potential of large battery storage to relieve bottlenecks in the grid.

Volkswagen has started construction of its 40GWh battery cell gigafactory in Salzgitter, Germany, and the company plans to dedicate capacity to grid-scale energy storage in future.