Philippines President Ferdinand ‘Bong Bong’ Marcos Jr has attended the inauguration of the country’s first lithium iron phosphate (LFP) battery factory.

Sungrow has agreed to supply battery energy storage system (BESS) technology to a large-scale project in Malaysia, one of Southeast Asia’s biggest projects of its type.  

A project in China, claimed as the largest flywheel energy storage system in the world, has been connected to the grid.

Infrastructure investor Actis has entered a strategic partnership with the companies behind a 3.5GW solar, 4.5GWh BESS project in the Philippines, one of the largest in the world.

The Board of Investments (BOI) in the Philippines has given a ‘green lane certificate’ for a solar and storage project slated as the largest in the world, enabling it to proceed at a quicker pace.

The first phase of the world’s largest sodium-ion battery energy storage system (BESS), in China, has come online.

Commissioning has been completed on the first commercial-scale project using Energy Vault’s gravity energy storage technology, while the firm has also secured a 400MWh BESS order for a project in Australia. However, it expects revenues this year to be 70-85% lower than 2023.

G7 nations have agreed a new global energy storage target of 1500GW by 2030, a six-fold increase from today’s levels.

China-based companies Sungrow and Eve Energy are seeing substantial growth in their energy storage product shipments.

Energy Vault and utility NV Energy have put a 220MW/440MWh battery energy storage system (BESS) into operation in Nevada, US.