The European Commission has approved a €1.1 billion (US$1.2 billion) scheme from the government of Hungary to support large-scale energy storage projects.

The Investment Management Corporation of Ontario (IMCO) has bought convertible notes worth US$400 million in European lithium-ion gigafactory firm Northvolt.

The US Internal Revenue Service (IRS) has revealed how smaller and tax-exempt organisations can take advantage of clean energy investment tax credits (ITC), with guidance on direct pay and transferability.

Iron-saltwater flow battery company ESS Inc looks set to deploy by far its largest project to-date, a 50MW/500MWh system at a renewables hub from German energy firm LEAG, with potential for more.

A large-scale battery system has been brought online at the site of the former Hazelwood Power Station coal plant in Victoria, Australia.

The government of Bangladesh and potential investors into energy storage in the South Asian country were handed a European Union-funded roadmap for the technology’s development last week.

Eolian has taken the amount of financing it has raised in just three years since founding to more than a billion-and-a-half-dollars.

Investors Harmony Energy and JLEN have energised battery storage projects in the UK, while the government is considering a VAT exemption for home battery storage.

Multinational energy firm RWE has started construction on two battery storage projects totalling 220MW/235MWh in Germany.

Renewable Power Capital has tied up with Greenfield to deploy 500MW of battery storage in the UK, shortly after a similar deal with Eelpower.