The intentions of battery storage developers and operators from the UK in Poland and CEE are ‘not very concrete’ with most just ‘getting a feel’ for what’s out there, sources said.
Battery storage developer and operator Spearmint Energy has closed a US$92 million tax equity investment into a battery storage project in the ERCOT, Texas market.
Developer Kyon Energy has secured construction approval for a 2-hour large-scale battery energy storage system (BESS) project in Saxony-Anhalt, Germany.
The Central and Eastern Europe (CEE) energy storage market is in its infancy but has the potential to leapfrog more developed markets with Poland in a leading position, said executives from Fluence.
Renewable energy developer BayWa r.e. has got the green light to develop and build a 3-hour duration battery energy storage system (BESS) in the UK, set to come online in 2026.
The energy storage market in Poland is “not an undersupplied one”, has higher financing costs and there is a two-year window in which you need to get in to capitalise on the opportunities, said renewable energy developer and IPP Aquila Clean Energy.
The transferability provisions under the Inflation Reduction Act (IRA) in the US “will unlock billions” in capital for clean energy, said financing firm Evergrow as it claimed the first tax credit transfer transaction.
Northvolt intends to use its vertical European supply chain to differentiate itself in a ‘fiercely competitive’ energy storage market, executives said.
Developer Banks Renewables has unveiled plans for a 200MW/400MWh BESS in Scotland, the same week its parent company agreed to sell it to investor Brookfield.
