Europe reached 4.5GW of battery storage capacity last year and could hit 95GW by 2050, according to figures from LCP Delta and Aurora Energy Research respectively.
The broader portfolio and management team are critical to securing investment for individual energy storage projects, said senior figures at asset managers Blackrock and Impax.
Construction has started on a project in Ireland pairing a battery energy storage system (BESS) with a synchronous condenser, developed by Lumcloon Energy and Hanwha Energy.
State-owned electricity company ESB and geoenergy company dCarbonX have signed a JV to explore green hydrogen storage opportunities off the coast of Ireland.