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A pumped hydro energy storage (PHES) project at a former gold mine in Queensland, Australia which would be able to store 250MW of power for up to eight hours has raised significant funding in the past few days.

An energy storage project pipeline of 500MW in Texas’s ERCOT market is being developed by Dallas-headquartered distributed energy resources developer and operator Hunt Energy Network.

Based on the value it provides to grids as shares of renewable energy grow, energy storage is a “very exciting market,” the VP of Goldman Sachs Renewable Power has said.

Early days of the new regime have been applauded for their progressive nature, but lack of proper cost-benefit analysis for storage and concerns of trade tariffs remain

Decision-makers across Canada now recognise the value that energy storage can bring to the grid, with Ontario’s grid operator establishing its first-ever set of market rules for energy storage’s participation.

Stem Inc has revealed its financial results for 2020 ahead of listing on the New York Stock Exchange, admitting that despite expecting a fourfold increase in revenues this year, the company is unlikely to achieve profitability until at least the end of next year.

Europe is on course to become the world’s second-largest lithium-ion battery cell producing region by 2025, although some key challenges need to be addressed, a European Commission vice-president has said.

LG Energy Solution, formerly known as LG Chem, has announced plans to invest in significantly increased production capacity within the US for batteries to be used in electric vehicles (EVs) and energy storage systems (ESS).

A new market mechanism for longer-duration storage should be created according to the UK’s Association for Renewable Energy and Clean Technology (REA).