Bank CIT will be the lead arranger of financing for Swell Energy’s pipeline of behind-the-meter commercial energy storage projects in California.

Stem Inc grew revenues 246% in quarter two 2022 and ended the period with a contracted backlog of US$727 million.

Iowa’s energy regulator has approved two projects from NextEra Energy Resources including a 300MWh co-located battery energy storage system (BESS) while utility Alliant has turned on a 5MW unit in the state.

Longroad Energy has secured US$500 million investment to support business model shift from “develop to sale” to ownership of renewables.

Zinc-based battery energy storage system provider Eos Energy Enterprises has secured a US$85 million loan facility with Atlas Credit Partners (ACP).

Developer Black Mountain Energy Storage (BMES) has sold 700MW of development-stage projects to UBS Asset Management, its third substantial sale in the Texas, ERCOT market in two months.

ENGIE has pulled out of a large-scale solar-plus-storage project contract in the Western Pacific US island territory of Guam.

Hopes have been raised once again that US lawmakers could introduce an investment tax credit for energy storage.

Recently-formed company Proteus Power plans to develop and build over 3GW of solar, wind and battery energy storage projects in North America.

Some 5GWh of utility-scale battery energy storage was deployed in the first half of 2022, up one third while wind and solar fell 50-70%, according to American Clean Power (ACP).