Europe needs to act now to prevent an outflow of investment from its burgeoning battery manufacturing ecosystem in light of the US’ Inflation Reduction Act, the EU-founded European Battery Alliance (EBA) has said.

The European Union parliament has voted on amendments to REPowerEU which will see its accelerated permitting for renewable projects expanded to include standalone energy storage.

The Minister of Energy of Romania will provide up to €103 million in financial support for battery energy storage systems deployments in the country.

A 15MW/16.4MWh battery energy storage system (BESS) provided by Fluence has been inaugurated on the Portuguese island of Madeira.

Greece-based battery manufacturer Sunlight Group has secured a €140 million (US$136 million) loan for its manufacturing and R&D investments.

The European Commission has approved €19.8 million (US$20.1 million) in state aid from the government of Croatia to energy storage operator IE-Energy for a series of grid-connected projects.

The EU has approved a plan by the government in Greece to put €341 million towards a 900MW energy storage pipeline, under its state aid rules.

Construction has begun on the first of four battery energy storage systems (BESS) totalling 200MW/200MWh from global system integrator Fluence in Lithuania.

Bill Gates-founded Breakthrough Energy, The European Associate for Storage of Energy (EASE), Solar Power Europe and Wind Europe have together called on the European Commission to recognise energy storage’s crucial role for the security of energy supply in Europe.

Iberdrola has switched on a multi-megawatt battery energy storage system (BESS) in rural Spain that will enable up to five hours of backup power to local networks in the event of an outage.