Denmark-headquartered independent power producer (IPP) Ørsted and investment bank JP Morgan have closed a tax equity financing of US$680 million for solar and storage projects in the US.
The Kern County, California hybrid facility will have the capability to generate up to 2GW of solar power co-located with up to 2GW of battery energy storage system (BESS) capacity, spanning approximately 12,875 acres of privately owned land.
Finding developers who want long-term partnerships on projects is key when entering multiple different markets, the head of shipping and energy infrastructure firm BW Group’s energy storage development and operation arm says.
There is “no shortage of investor appetite” and policy support is in place, but there are still some barriers to energy storage deployment on the scale needed to decarbonise Australia’s energy sector.
Zambian developer GEI Power and Turkish energy technology firm YEO are aiming to have a 60MWp PV, 20MWh BESS project in Zambia online by September 2025.
A 100MW/200MWh BESS project in Northern Ireland has been acquired by the renewable energy development subsidiary of UK-headquartered power generator and developer SSE.
Developers Agilitas Energy and On.Energy have raised a total US$125 million in debt financing towards solar, energy storage and hybrid solar-plus-storage projects in the US.
