It has yet to build its first project but Jupiter Power, a developer, owner and operator of utility-scale energy storage has claimed it will deploy 652MWh of battery storage during 2021, kicking off a 10GW development pipeline.
A US$70 million funding round has been successfully closed by Highview Power, a UK-headquartered company which has developed a liquid air energy storage (LAES) system called the ‘CRYOBattery’.
When turbines at a natural gas power plant in California go offline, battery energy storage will be used as a ‘much cleaner alternative’ to diesel or other fossil fuels in getting them up and running again.
Energy storage system integrator Powin Energy has gained equity investment which the company claimed will allow it to significantly improve its integrated software and hardware platform.
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.
Solar inverter manufacturer Sungrow’s energy storage system (ESS) solution will power a 100MW battery storage project in Texas which is scheduled to go into operation in mid-2021.
The amount of corporate funding coming into the global battery storage industry in 2020 was more than double the amount the previous year, with over US$6.5 billion raised last year compared to around US$2.8 billion in 2019.
The Green Investment Group (GIG), a company owned by financial services group Macquarie, is investing an unspecified sum into esVolta, a US-headquartered developer and owner of utility-scale energy storage projects.
