Investor NextEnergy Capital has received a US$110 million capital commitment for its solar PV and energy storage-focused fund, NextPower V ESG (NPV ESG).
Germany and Spain are among the energy storage markets of Europe that clients are most keen to learn more about, according to Wood Mackenzie analyst Anna Darmani.
Brookfield-owned renewable energy developer and operator X-ELIO has partnered with another infrastructure investor to invest in German battery storage developer and system integrator Eco Stor.
Utility and independent power producer (IPP) Iberdrola will deploy battery energy storage system (BESS) projects in Spain adding up to 150MW/300MWh, to be co-located with existing PV plants.
The National Energy and Climate Plans (NECPs) of European Union (EU) Member States are largely falling short in recognising the vital role of energy storage, the Energy Storage Coalition has said.
The government of Spain, through the Institution for the diversification and energy savings (IDAE) has awarded 880MW/1809MWh in its first tender for energy storage to be co-located with renewables.
The Spanish Ministry of Ecological Transition (MITECO) has allocated €85 million (US$91 million) to develop 51 renewable energy generation and storage projects on the Canary Islands.
Spain-based developer and IPP Grenergy has detailed its investment plans for 2023-2026, totalling US$2.6 billion including what it claimed is the ‘largest BESS in the world’ in Chile.
The government of Spain is launching €280 million (US$310 million) in grants for standalone energy storage projects, thermal energy storage and reversible pumped hydro to go online in 2026.
More than 5% of Spain’s renewable energy generation could face economic curtailment between 2025 and 2030, but long-duration energy storage (LDES) could reduce or eliminate that need.
