Investor-owned utility SDG&E and the City of San Diego are launching a dozen microgrid projects with energy storage across San Diego, California, following similar announcements elsewhere in the state.
Matrix Renewables, the platform backed by private equity firm TPG, has secured tax equity financing of US$92 million for two solar-plus-storage projects in California with 80MWh of energy storage.
Significant policy support for the long duration energy storage (LDES) sector may be needed until 2030-35 when the market matures, says a new LDES Council policy toolbox report.
Construction has begun on a solar-plus-storage project on the Caribbean island of St. Kitts & Nevis, backed by Leclanché, Solrid and MPC Energy Solutions.
The Inter-American Development Bank and Norwegian Agency for Development Cooperation are investing up to US$83.3 million in eight solar PV projects in Guyana with 34MWh of co-located energy storage.
Crossboundary Energy Access, an investment platform which is project financing solar-powered mini-grid projects in rural Africa, has secured US$50 million funding.
Europe will need a total of 187GW of energy storage by 2030 and 600GW by 2050 to meet its renewable energy targets, according to the European Association of Energy Storage (EASE).
