Arlington Energy, a clean energy investment group, has announced plans to build out a 1GW portfolio of energy storage and gas peaker projects across the UK after securing initial funding of £200 million (US$255 million) from an offshore fund of institutional investment.
The renewables investment community “needs to come to grips” with merchant risk after a decade of being “spoiled” by government-backed subsidies for wind and solar.
Investment management firm Gresham House is to float an energy storage fund on the London Stock Exchange next month, with an aim to raise £200 million to fund 262MW of energy storage projects over the next year.
India’s prime minister Narendra Modi made an official commitment towards the launch of the country’s first National Energy Storage Mission yesterday at a ministerial event also attended by the UN Secretary General, Antonio Guterres.
Using energy storage – and often renewables – could see mines, cement companies, data centres and other large industrial operations in emerging markets reduce their electricity costs drastically, the CEO of Greensmith has said.
VC funding for battery energy storage companies in the first half of this year has already exceeded 2016’s total and looks on the way to bettering 2017, with US$539 million raised across 29 deals.
