New energy storage projects co-located with renewables in Spain will be eligible to have 40-65% of their investment costs covered under a government scheme launching in a week’s time.

Some companies which were previously considering Europe for lithium-ion gigafactory projects are now looking to the US instead, executives working in site selection and design told Energy-Storage.news.

A roundup of energy storage news stories from Europe.

CO2 Battery company Energy Dome has won €17.5 million (US$18.5 million) in grant and equity financing from the European Innovation Council, the maximum amount available.

Battery storage projects from Hynfra Energy Storage and OX2 totalling 130MWh have won contracts in energy auctions in Poland this week.

ILOS Projects has secured a €500 million (US$531 million) structured finance facility from global energy and infrastructure investor EIG.

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.

Investor Claritas and system integrator Hynfra Energy Storage (HES) have signed a framework agreement to deploy half a gigawatt of utility-scale battery energy storage in Poland.

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.

Developers OX2 and Ingrid Capacity have started work on two battery storage projects totalling 60MW of power in Sweden.