Norwegian oil and gas firm Equinor has launched its first US BESS projects via 2022 acquisition East Point Energy, with its trading arm Danske Commodities charged with ensuring project returns.

Equinor has approved the final investment decision of its first battery energy storage asset in the UK.

Norwegian state-owned energy company Equinor will acquire a US-based developer of grid-scale battery energy storage projects.

Co-located battery storage’s ability to help mitigate risk and counter renewable yield compression has been hailed as a “fantastic opportunity” by renewables investor Bluefield Partners’ investment director Jan Libicek.