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.

A 400MW early-stage battery storage project in ERCOT, Texas, has been acquired by a joint venture (JV) controlled by Italian firms Redelfi and Altea Green Power, for up to US$8.5 million.

Residential battery storage capacity in Europe is set to reach 9.3GWh by the end of the year, according to SolarPower Europe.

Recently-formed developer Innovo Group is targeting a 1.5GW/9GWh lithium-ion BESS development portfolio in Italy and UK, with the first system in central Italy online in Q1 2024.

Utility and power generation company Enel Group and Brenmiller Energy have inaugurated a thermal energy storage system in Italy using the latter’s proprietary bGen technology.

Nidec ASI, the Italy-based industrial solutions division of Japanese conglomerate Nidec Group, has won a contract to deploy 5.4GWh of battery energy storage systems in its home market.

Danish energy company Ørsted will run a feasibility study on the deployment of a 20MW/200MWh energy storage system using Italian startup Energy Dome’s ‘CO2 Battery’ technology.

State-owned electricity company ESB and geoenergy company dCarbonX have signed a JV to explore green hydrogen storage opportunities off the coast of Ireland.

Increasingly, microgrids often lean on battery storage as a key component, replacing or reducing reliance on diesel and other fossil fuels.