The European Commission is targeting 90% renewable electricity by 2040 in the EU and sees energy storage as one of several key areas of investment to get there, according to a leaked draft.
European lithium-ion battery developer and manufacturer Northvolt has secured a US$5 billion (€4.6 billion) non-recourse project financing package from various EU and Nordic institutions for its manufacturing and recycling plants.
The EU has today (23 November) launched a grant funding opportunity worth €4 billion (US$4.4 billion) for upstream and downstream clean energy projects, including energy storage.
We caught up with Birger Steen, CEO of lithium-ion gigafactory company Freyr Battery, about its recent decision to minimise European investments in light of the Inflation Reduction Act, discussing a potential policy response and its approach to ESS and using conventional technologies.
Energy storage system (ESS) executives from Northvolt and Fluence discussed the battery and battery storage manufacturing ecosystem in Europe in separate interviews whilst at the Energy Storage Summit Central Eastern Europe (CEE) recently.
European gigafactory firm Northvolt has started producing battery energy storage systems (BESS) at its Northvolt Dwa facility in Poland, while also securing a US$1.2 billion convertible note.
Around 16GW of battery energy storage system (BESS) projects got preliminary registration for this year’s capacity market auction in Poland, developer Hynfra told Energy-Storage.news.
A state agency in Estonia has provided €5.2 million (US$5.7 million) in grants for 10 energy storage projects, including a 4MW/8MWh battery storage project from utility Eesti Energia.
The European Commission has given the go-ahead to a €150 million (US$160 million) state aid scheme for renewable energy and energy storage in Slovenia.
The European Commission has approved a €103 million (US$125 million) package of direct grants from the government in Romania for battery storage projects.
