Smart energy storage provider Stem Inc has said that it is on course to meet revenue targets set for 2021, as the company made its first quarterly financial results announcement since going public.
Energy storage activity grew during January to June this year for Wärtsilä, accounting for almost two-thirds of new-build order intake, the company’s VP for Energy Storage and Optimisation has said.
US utility giant NextEra Energy added 1.84GW of renewables and energy storage projects to its backlog in Q2 2021, but its Energy Resources division reported a fiscal loss of US$315 million.
Tesla has reported more than 200% year-on-year increases in both solar and energy storage deployments for the second quarter of this year, during which time the company also produced and delivered more than 200,000 vehicles.
Canadian Solar has been on a “transformational journey to accelerate demand” for its battery energy storage services, CEO Dr Shawn Qu said while discussing what has been a quarter beset with difficulties for the company’s solar manufacturing business.
Stem Inc claimed to be on track to achieve its 2021 full year revenue guidance of US$147 million, after reporting a year-over-year increase in revenues of 245% for the first quarter ending 31 March.
Long-duration zinc battery energy storage system maker Eos Energy Enterprises’ order book, backlog and sales pipelines have greatly increased, but the company has also incurred significant costs as it puts in efforts to reach scale in manufacturing and deployments.
Since its IPO in November 2018, Gresham House Energy Storage Fund, a utility-scale battery storage investment fund listed on the London Stock Exchange has seen its total share price return of 27.3% significantly outperform the 7.9% returns across the FTSE All Share weighted index.
Tesla CEO Elon Musk has said that the company is already achieving “good margins” on the residential Powerwall product, but that “some additional work is needed” for its utility-scale Megapack to do so.
Having previously said that the coronavirus pandemic had badly impacted its financial performance during 2020, a rebound is expected this year and next, ENGIE EPS, the energy storage and e-mobility subsidiary of European utility ENGIE has said.
