Copenhagen Infrastructure Partners (CIP) has confirmed that its 500MW/1,000MWh battery energy storage system (BESS) in Scotland, UK, is ready to commence construction.

The Investment Management Corporation of Ontario (IMCO) has bought convertible notes worth US$400 million in European lithium-ion gigafactory firm Northvolt.

Renewable Power Capital has tied up with Greenfield to deploy 500MW of battery storage in the UK, shortly after a similar deal with Eelpower.

Compressed air long-duration energy storage solution provider Hydrostor has received an investment commitment of US$25 million from Canada Pension Plan Investment Board.

Blackstone Energy Partners, a private equity business belonging to investment firm Blackstone, has bought up NRStor C&I.

Currently attracting developers and investment alike, the opportunity to reduce energy costs for businesses in Ontario has led to an agreement for another 42MWh of energy storage from project developer NRStor and solutions provider IHI Inc.