The devastating power crisis in Texas last month proved the value of the energy storage market, particularly distributed models, according to a panel of renewables investors this week.
A €100 million (US$114.44 million) fund will be used to develop and deploy microgrid and energy storage projects by engineering and automation firm ABB, which has recently launched a new line of solutions in those areas.
Swiss institutional investment group SUSI Partners has agreed to finance C$120 million (US$94.56 million) of commercial and industrial (C&I) sector energy storage projects by Canadian project developer/owner NRStor.
A Swiss fund aimed at encouraging institutional investors to get on board with energy storage has reached its first closing at €66 million (US$70.4 million).
US-Canadian energy storage project developer Convergent Energy and Power has secured third-party project financing for 12MW of energy storage projects in Canada that will provide grid services.