Utility-scale renewables developer Intersect Power has secured US$2.6 billion in financing for the construction and operations of a portfolio of solar and energy storage projects in California and Texas.
The government of Alberta, Canada, has announced that CA$25 million (US$20.1 million) in financial support has been offered for solar-plus-storage and pumped hydro energy storage as part of a CA$176 million package that will also give funding to oil and gas industry projects.
Corporate funding into the battery storage sector in the first quarter of this year totalled US$4.7 billion across 17 deals, a huge leap from the equivalent period of last year, according to a new report from Mercom Capital.
The Canadian federal government is financially supporting the development of a large-scale advanced compressed air energy storage (A-CAES) project capable of providing up to 12 hours of energy storage.
Funding secured from its main shareholder group will help vertically-integrated energy storage company Leclanché push forward activities in its stationary storage business, CEO Anil Srivastava has said.
Energy company Total and solar-plus-storage developer 174 Global, a division of Hanwha Group, have formed a joint venture to develop utility-scale solar and storage projects with a total capacity of 1.6GW in the US.
The lion’s share of new funding announced this week to help scale-up potentially disruptive technologies by the Advanced Research Projects Agency – Energy (ARPA-E) of the US government Department of Energy (DOE) will go to battery and smart grid technologies.