Financing has been secured for two projects that will add nearly a gigawatt-hour of battery storage at California solar power facilities this year, by renewable energy company Terra-Gen and private asset management firm Capital Dynamics.

As energy system modernisation and decarbonisation progresses, energy storage could represent between 10% and 25% of India’s total installed power capacity by 2050, while other countries in South Asia including Bangladesh, Nepal and Bhutan also have “significant opportunities” for energy storage.