Nearly 4.2GW of battery storage capacity was added to the US grid in 2021, according to a new report from BloombergNEF.

Construction has started on a 3.5GWh pumped hydro plant in Gran Canaria, Spain, and progress has been made on two other projects totalling 18GWh of storage in mainland Spain and Nevada, US.

Australian renewable energy developer Genex Power has achieved financial close on what looks likely to be the country’s first new pumped hydro energy storage (PHES) plant in nearly 40 years.