The US battery storage market is in a rapid growth phase and becoming increasingly competitive, creating an increasing need for sophisticated technologies and a deeper understanding of markets.

London Stock Exchange-listed Gore Street Energy Storage Fund (GSF) has secured a US$80 million increase in debt facilities for its battery storage projects.

Primergy has secured US$225 million in project financing to support its “Valley of Fire” project portfolio across Nevada, Arizona and Colorado.

Macquarie-backed Eku Energy has completed the financing on its first battery energy storage system (BESS) project in Japan.

Dutch developer Giga Storage has received a permit for construction for its 600MW/2,400MWh BESS project in neighbouring Belgium and will choose the BESS technology provider after summer.

Italy grid-scale energy storage market opportunities unlike anywhere else, but many challenges and uncertainties around the different revenue streams remain, including the upcoming MACSE capacity market auction.

A roundup of US battery storage project financing news from this week, with deals struck by SMT Energy and UBS, Plus Power, as well as CleanCapital and Available Power, covering over 1GW of projects.

Pacific Green has secured £123.5 million (US$153 million) facility to support construction of its 1.5-hour, 249MW/373.5MWh BESS in Kent, UK.

Edify Energy has closed financing on a battery storage project which will support the hosting of solar and wind at a government-designated Renewable Energy Zone (REZ) in Victoria, Australia.

Energy storage’s role in enabling decarbonisation and economic growth was at the heart of discussions at Energy Storage Summit Asia 2023.