US power marketer Gridmatic has launched a US$50 million fund it will put towards managing third-party battery storage assets, including covering collateral requirements, it told Energy-Storage.news.
US developer Broad Reach Power has closed US$435 million in financing to start construction on 880MW of battery storage projects in the CAISO and ERCOT markets, for 2023/24 commissioning.
California utility SDG&E has commissioned two projects totalling 171MW of battery storage, while system integrator Ameresco has secured contracts to deliver 379MWh for at four gas plants in the state.