A consortium featuring Mitsubishi and Japanese utility Chubu is set to buy out European energy major Eneco as Mitsubishi targets further European growth.

BBOXX has successfully closed a US$50 million Series D funding round that will see the next generation utility company accelerate its global expansion efforts.

Described as a project of ‘strategic importance’ for India’s entire energy sector, the country’s first grid-scale lithium-ion battery energy storage system officially went into service this week.

The start of construction on India’s largest energy storage project is not only of strategic importance to regulators, but could also drive another wave of utility-scale projects in India, the chief of the country’s storage Alliance has said.

The latest project to be dubbed “Europe’s largest battery” will be a 50MWh project from Dutch energy supplier Eneco and Japanese conglomerate Mitsubishi Corporation in Jardelund, Germany.

What is thought to be India’s first grid-scale energy storage array will be developed and delivered by a joint partnership between system provider AES and Mitsubishi Corporation, it was announced.

US-based Storage provider AES Energy Storage has made significant expansions away from established markets into relatively untapped regions across the globe.