The Australian government-backed Clean Energy Finance Corporation (CEFC) has committed AU$125 million (US$92.12 million) to help build grid infrastructure for a 2GW pumped hydro project with 175 hours of storage duration.
Policymakers for New South Wales in Australia have been debating a bill to co-ordinate investment in the state’s electricity infrastructure that includes 2GW of long-duration energy storage and AU$50 million (US$36.71 million) support for green hydrogen over 10 years.
Independent power producer (IPP) Broad Reach Power has made the first of “several planned expansions” into California’s market for energy storage, acquiring the 25MW / 100MWh Cascade Energy Storage project.
UK stock exchange-listed energy storage investment fund Gore Street Energy Storage Fund has applied to triple its capacity in the Republic of Ireland, up to a total of 180MW.
UK energy storage solutions provider Zenobe Energy is targeting an additional 500MWh of storage and 1,000 electric buses following a £150 million (US$198.94 million) investment the infrastructure equity investment arm of investment manager M&G.
The importance of software for the bankability of a project is growing, as the opportunities for energy storage around the United States continues to expand.
While lithium-ion continues to dominate big project announcements worldwide, three providers of long-duration non-lithium battery technologies have claimed various milestones in commercialisation.
Two large-scale pumped hydroelectric energy storage projects under development in the US have been acquired by fund management company Copenhagen Infrastructure Partners (CIP).
As much as 8GWh of energy storage may be required to enable Israel’s policy aim of sourcing 30% of its electricity from renewables by 2030 and to enhance the reliability of the electricity grid.
