The Australian government-backed Clean Energy Finance Corporation (CEFC) has committed AU$125 million (US$92.12 million) to help build grid infrastructure for a 2GW pumped hydro project with 175 hours of storage duration.
Two large-scale pumped hydroelectric energy storage projects under development in the US have been acquired by fund management company Copenhagen Infrastructure Partners (CIP).
Greenko said that it will be helped along with plans to build multiple gigawatts of renewable energy plants alongside energy storage in India by an investment from Tokyo-headquartered ORIX Corporation.
The US national Energy Storage Association (ESA) has adopted a goal for the deployment of 100GW of new energy storage using a range of technologies by 2030, updating a previously set 35GW by 2025 target.
The European Union (EU) has just published its Strategy for Energy System Integration, including pledges to support renewables and energy storage as the continent targets carbon neutrality by 2050.
A design consultancy service contract for a 1200MW pumped hydro energy storage project, paired with solar and wind energy and under development by independent power producer (IPP) Greenko has been awarded to AFRY India.
Targeting a national economic goal in mind of making hydrogen competitive with natural gas, Australia’s government has put AU$70 million (US$44.3 million) into a “deployment funding round” for renewable hydrogen.
While most conversation around energy storage focuses on batteries, a recent Solar Energy Corporation of India tender achieved the lowest tariffs for renewables with storage using a much more ‘old-fashioned’ technology, writes Kowtham raj VS of NITI Aayog.
While pumped hydro plants still account for around 96% of installed capacity of stationary energy storage worldwide, there will be more than 28GW of lithium batteries deployed for stationary storage applications by the year 2028, Navigant Research has predicted.
