Australia’s government has put its support behind two major transmission projects which will increase the utilisation of renewable energy.

Longroad Energy has secured US$500 million investment to support business model shift from “develop to sale” to ownership of renewables.

Aware Super has identified a “significant strategic opportunity” to invest in an energy storage project developer.

Intersect Power has secured US$750 million funding to take its portfolio of renewables, energy storage and green hydrogen projects beyond 8GW.

ArcLight views its portfolio of existing thermal power plant assets as “excellent potential locations for battery projects”.

Equinor has acquired a 45% stake in UK utility-scale energy storage and stability services developer Noriker Power.

Broad Reach Power has been valued at over US$600 million as a 50% stake in the US energy storage company changes hands.

Energy storage is a key enabler of net zero emissions in the UK, but some unresolved challenges still make it a complex sector to navigate, as Antonia Silvestri and Gary Roscoe, partners at law firm TLT, explain.

Hydrostor, a Canadian company with projects under development in North America and Australia using its advanced compressed air energy storage (A-CAES) technology, has secured CA$10 million (US$7.99 million) growth capital.

Residential energy storage system provider Eguana will begin deploying devices to operate as a connected virtual power plant on the Hawaiian island of Oahu.