Denmark-headquartered independent power producer (IPP) Ørsted and investment bank JP Morgan have closed a tax equity financing of US$680 million for solar and storage projects in the US.

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.

Financing has been secured for two projects that will add nearly a gigawatt-hour of battery storage at California solar power facilities this year, by renewable energy company Terra-Gen and private asset management firm Capital Dynamics.

An open fund for solar energy and energy storage in various emerging markets has been launched by Franck Constant, the co-founder of Sonnedix Group and director of Sithe Pacific, Energy-Storage.News’ sister site PV Tech revealed today.

Multinational conglomerate corporation GE has announced Current, a new energy company that combines GE’s LED, solar, energy storage and electric vehicle businesses with its Predix platform to single out and provide cost-effective and efficient energy solutions to customers.