The sudden and rapid use of Special Purpose Acquisition Companies (SPACs) to launch privately-held companies into publicly-listed entities is a minor phenomenon of our time and some players in clean energy industries including energy storage, have been quick to join the wave. It can work out really well, but it can also all end in tears: so choose wisely, says Charles Lesser, partner at Apricum – The Cleantech Advisory.
Financial backing to support early development phases in battery storage and renewable energy projects has been found by Momentum Energy Storage Partners, a project development company launched by DNV GL’s former energy storage lead for the North Americas region.
Despite the fall in unit prices for energy storage, a total of US$3.6 billion of investment was committed to energy storage projects in 2020, around the same amount as in 2019.
Around 2.1GWh of battery storage had been installed in Germany by the end of 2019, in households, at commercial and industrial (C&I) facilities and at large-scale in grid-connected applications.
The Australian government-backed Clean Energy Finance Corporation (CEFC) has committed AU$125 million (US$92.12 million) to help build grid infrastructure for a 2GW pumped hydro project with 175 hours of storage duration.
What does it take to successfully create a multi-gigawatt battery storage factory? Energy-Storage.news’ editor Andy Colthorpe moderates a discussion with some key players in Europe’s race to create a home-grown value chain.
Gore Street Energy Storage Fund, one of two stock exchange listed energy storage funds in the UK, has acquired an 81MW operating battery storage portfolio from Anesco.
Venture capital (VC) funding in battery storage companies in the third quarter of 2020 was up 78% on the previous quarter, while total corporate funding in the sector for the first nine months of the year rose by 62% compared to the same period in 2019.
The Solar Energy Corporation of India (SECI) has invited bids for a 100MWac/200MWp solar project with a 50MW/150MWh battery energy storage system in the state of Chhattisgarh.
Funding into battery storage companies fell dramatically in the first half of 2020 compared to last year’s equivalent period, according to the latest reporting from Mercom Capital.
