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.

The National Energy and Climate Plans (NECPs) of European Union (EU) Member States are largely falling short in recognising the vital role of energy storage, the Energy Storage Coalition has said.

The European Commission, along with governments of Australia, the US and Canada, have backed a new initiative to promote battery storage.

Germany-based flow battery company VoltStorage has been granted a venture debt loan of €30 million (US$33 million) by the European Investment Bank (EIB), guaranteed by the European Commission.

Cyprus has set out a policy framework for the integration of energy storage systems after reaching a funding agreement with the European Commission (EC).

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 launch of a new Energy Storage Coalition has been welcomed by European Commission energy commissioner Kadri Simson.

Kadri Simson has described energy storage as vital for the energy transition, yet often “overlooked” in plans and strategies.

The European Commission support for manufacturing of clean energy technologies a “game changer” for making the battery industry competitive.

The European Commission has cleared an investment by Canadian pension fund BCI into Eku Energy, a new utility-scale BESS platform launched by Macquarie last year.