Genex Power has received credit approvals on a AU$35 million (US$25.26 million) debt finance facility for its 50MW/100MWh Bouldercombe battery energy storage system (BESS) project in Queensland, Australia.
Battery storage companies raised 159% more corporate funding in 2021 than in 2020, with funding activity reflecting the “significance of battery energy storage in the energy transition,” analysis group Mercom Capital has said.
Investment in energy storage in the US has gradually built up momentum, but what will really take it into the mainstream – and when? A panel of financiers discuss their opinions and experiences in this panel session.
In just the past few days, nearly US$500 million has been committed to downstream activity in the battery energy storage space, with AES Distributed Energy raising US$341 million of debt financing and EsVolta US$140 million of borrowing.
The success of efforts to decarbonise economies in the UK and elsewhere could hinge largely on how governments and business communities – particularly large commercial lenders – engage with the sector in 2020, a UK-based financier of solar and storage has said.