French multinational utility ENGIE has agreed to acquire the battery storage business of US developer Broad Reach Power.

While the demand for third-party battery energy storage system (BESS) optimisation services looks set to grow substantially, challenges for companies specialised in offering those services remain.

US power marketer Gridmatic has launched a US$50 million fund it will put towards managing third-party battery storage assets, including covering collateral requirements, it told Energy-Storage.news.

Developers SMT Energy and SUSI Partners have secured a tax equity financing agreement for 100MW of ERCOT, Texas battery storage projects with ‘specialised tax equity’ investor Greenprint Capital.

US developer Broad Reach Power has closed US$435 million in financing to start construction on 880MW of battery storage projects in the CAISO and ERCOT markets, for 2023/24 commissioning.

Spearmint Energy is nearing the completion of its first project, a 150MW/300MWh battery storage system in Texas using Sungrow BESS equipment.

Ireland-headquartered long-duration energy storage (LDES) company Corre Energy has acquired its first in-development project in the US.

With the rise of AI-driven solutions for optimisation of trading using battery energy storage system (BESS) assets, Prudence Heck and Andrew Young of Spearmint Energy consider strategies and risks.

Developer Jupiter Power has announced US$70.4 million in loan financing for two battery storage projects in ERCOT, Texas, arranged by First Citizens Bank.

The co-founder of new US developer Granite Source Power (GSP) discussed its for-sale 2GW ERCOT BESS pipeline including a large, 500MW project near Houston, and why it entered the market.