A tax credit transaction worth US$60 million using new transferability mechanisms from the Inflation Reduction Act has closed, for a BESS project deployed by Energy Vault for W Power and Wellhead Electric.

New guidance from the US government clarifying rules around tax credit incentives for energy storage and offshore wind energy has been welcomed by clean energy trade associations.

Another substantial development agreement for battery energy storage system (BESS) projects in Italy has been struck, this time between solar and storage installer Lemon Sistemi and investor Volt ESG.

We caught up with Birger Steen, CEO of lithium-ion gigafactory company Freyr Battery, about its recent decision to minimise European investments in light of the Inflation Reduction Act, discussing a potential policy response and its approach to ESS and using conventional technologies.

Wärtsilä’s decision to launch a strategic review of its energy storage & optimisation (ES&O) business, including potential divestment, may be because of its dilutive effect on the broader company’s margins, an analyst told Energy-Storage.news.

Investor EQT Infrastructure has acquired UK clean energy and battery storage developer-operator Statera, the latest in a flurry of deals in the UK market.

California-based Element Energy has raised US$111 million of equity and debt for its proprietary battery management system (BMS) for first and second life battery storage.

Switzerland-based institutional investment group SUSI Partners has entered a development deal for two large-scale solar-plus-storage hybrid power plants in Chile.

Lithium-ion battery manufacturer Hithium will provide 55MWh of battery products for a solar-plus-storage project being built by EPC firm SolarPro in Bulgaria.