The CFO of Goldman Sachs-backed US battery storage developer-operator GridStor discussed its recent investment tax credit (ITC) transfer deal for a California BESS project, highlighting some downsides as well as positives from the new mechanism.

There is a four-fold difference between how much energy storage the US Department of Energy (DOE) forecasted would be deployed by 2040 before the Inflation Reduction Act (IRA), and how much it now forecasts.

Developer-operator Strata Clean Energy has completed a US$559 million financing package for its 1.02GWh Scatter Wash BESS project in Arizona, US.

Energy storage investment tax credits (ITC) were priced more highly than any other clean energy type in transferability transactions last year, according to a report from tax credit ecosystem Crux which its CEO discussed with Energy-Storage.news.

Blackstone and Foss & Company have completed transferability investment tax credit (ITC) deals for BESS projects in California and Texas, a market which has grown “faster than anyone expected” according to tax credit ecosystem Crux.

Blackstone Credit & Insurance, the newest business division of global asset manager Blackstone, has closed financing for a large-scale battery storage project in California, US, with developer Arevon.

Developer and operator Strata Clean Energy has started construction on its 255MW/1,020MWh Scatter Wash BESS project in Arizona, US.

US battery storage developer Key Capture Energy has sold investment tax credits (ITCs) for battery energy storage system (BESS) projects in New York and Texas, using new transferability rules.

GE Vernova has signed a term sheet for the supply of lithium iron phosphate (LFP) battery modules from US startup Our Next Energy (ONE).

New guidance from the US government clarifying rules around tax credit incentives for energy storage and offshore wind energy has been welcomed by clean energy trade associations.