Renewable energy developer and operator Arevon has completed the financing for a 600MWh solar and storage project in California, US, including US$191 million of investment tax credits (ITC) provided using new transferability provisions.
The battery energy storage system (BESS) arm of PV module manufacturer Canadian Solar has won a 800MWh order for a project in Arizona from Tucson Electric Power (TEP).
Arizona Electric Power Cooperative (AEPCO) has received board approval to deploy a solar-plus-storage project with up to 940MWh of capacity, after two smaller co-operatives completed smaller co-located projects in the state.
Only half of the energy storage needed to properly integrate the potential solar PV additions globally by 2030 will be deployed based on current policies, the International Energy Agency (IEA) said in its World Energy Outlook report for 2023.
Successful optimisation of batteries co-located with wind is complex but could help “unlock a blueprint” for managing assets at portfolio level, the chief executive of UK software company Arenko has said.