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This edition of news in brief from around the world in energy storage focuses on virtual power plant action in the US.

Developer Available Power and Linxon, a joint venture between engineering firm SNC-Lavalin and Hitachi Energy, are targeting 1GW of battery storage projects in the ERCOT, Texas market.

The US utility-scale battery storage sector achieved its highest-ever annual deployments in 2022, a year in which solar PV and wind underperformed against expectations.

Energy storage developer Eolian has completed an investment in two standalone battery energy storage projects in Texas, which it claims is the first use of the Inflation Reduction Act’s new tax credit incentives (ITC).

Hecate Grid, an independent power producer (IPP) developing utility-scale battery storage assets, has raised US$98.9 million through lenders.

Investment firms Castlelake and Gore Street Capital have acquired respective battery storage projects in the ERCOT, Texas market totalling nearly 600MW of storage capacity.

Texas’ ERCOT grid is facing some extreme swings in its ability to match supply with growing demand for electricity in the US state.

A 400MW early-stage battery storage project in ERCOT, Texas, has been acquired by a joint venture (JV) controlled by Italian firms Redelfi and Altea Green Power, for up to US$8.5 million.

Despite macroeconomic challenges, Gore Street’s asset value surged 45% over six months as ancillary service revenues stayed strong.