Copenhagen Infrastructure Partners (CIP) has reached a final investment decision (FID) for two energy storage projects in Scotland. This investment decision is being made through CIP’s flagship fund, CI IV. These projects have a capacity of 500 MW / 1,000 MWh each. The projects are being developed as part of Alcemi’s partnership with CIP to deploy 4GW of energy storage projects across the UK at strategic locations.
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Grenergy has secured approximately $324 million in financing for a battery project Oasis de Atacama. The company has secured this financing for phase four of the project named Gabriela from international financial institutions BNP Paribas, Natixis Corporate & Investment Banking, Société Générale, Bank of Nova Scotia, and SMBC. This phase has an estimated capacity of 269 MW of solar and 1.1 GWh of storage.
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AMEA Power has secured two Battery Energy Storage System (BESS) projects under Bid Window 2 of the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP). This programme was organised by South Africa’s Department of Electricity and Energy. The two projects are the Gainfar project and the Boitekong project each with a capacity exceeding 300 MWh.
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ContourGlobal has acquired a solar plus storage project in US. The project is currently in its advanced stage and will be developed in two phases. It will feature a combined capacity of 567 MWp of solar PV and 321 MW/1.3 GWh of BESS. Once completed, it will provide a total hybrid capacity of 888 MW. Furthermore, the project is connected to Arizona’s WAPA grid and includes firm transmission rights to deliver power to CAISO.
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Enlight Renewable Energy Ltd. has secured debt financing for the Roadrunner project located in Arizona, US. As a part of this debt financing, Enlight through its subsidiary Clenera Holdings LLC, has entered into a $550 million loan agreement with four global banks: BNP Paribas Securities Corp, Crédit Agricole, Natixis CIB, and Norddeutsche Landesbank Girozentrale (Nord/LB). This financing is expected to convert into a $290 million term loan and $320 million in tax equity funding upon the project’s COD.
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LG Energy Solution Vertech has inked a multi-year agreement with Excelsior Energy Capital to deliver 7.5 GWh of fully integrated lithium-ion energy storage projects. These projects will be supported by integration and lifecycle services provided by LG Energy Solution Vertech. Under this agreement, all projects will meet the US domestic content requirements. The first delivery is scheduled for April 2026.
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This extract is from a recent report by Climate Energy Finance. The report highlights the rapid progress in Australia’s electricity sector transition, emphasising that the nation is on track to achieve its ambitious target of 82% renewable energy by 2030. It underscores the pivotal role of sustained investment, strong policy support, and streamlined planning, evaluation, and approval processes. In particular, it highlights the growing importance of Battery Energy Storage Systems (BESS) in ensuring grid stability and supporting the integration of renewable energy into the electricity network.
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Alternus Clean Energy has completed the acquisition of LiiON, LLC through an asset purchase agreement which was finalised by one of its US subsidiaries. As part of this agreement, Alternus will pay $5 million through a combination of debt and equity thereby acquiring LiiON’s customer contracts, service agreements, and partnerships.
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Ciiticore Renewable Energy Corporation (CREC) has inked a supply and services agreement with Sungrow for the development of its Battery Energy Storage Systems (BESS). As a part of this agreement, CREC will procure 1.5 GWh of BESS from Sungrow to support its solar power projects. Sungrow will contribute to the project’s engineering and construction design to optimize the integration of BESS into CREC’s solar facilities.
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The Asian Development Bank (ADB) and Gulf Renewable Energy Company Limited have finalised an $820 million loan to provide construction financing for 12 renewable energy projects in Thailand. The portfolio includes eight ground-mounted solar photovoltaic (PV) plants with a contracted capacity of 393 MW and four solar PV plants with battery energy storage systems totaling 256 MW of contracted capacity and 396 MWh of energy storage.
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Sembcorp Industries, through its wholly owned subsidiary Sembcorp Green Infra Private Limited, has won a 300 MW inter-state transmission system (ISTS) – connected wind-solar hybrid power project from NTPC Limited. This project is part of NTPC’s 1.2 GW renewable energy bid and will be developed under a build-own-operate model.
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ABO Energy has sold the rights of two battery energy storage systems (BESS) in South Africa to French Électricité de France (EDF) after developing them into ready-to-build status. EDF was awarded preferred bidder status for both projects on November 30, 2023 in the first bid window of the Battery Energy Storage Independent Power Producer Procurement Programme.
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Fidra Energy and Sungrow have signed a strategic partnership agreement to supply 4.4 GWh of energy storage systems for Fidra’s 10 GW battery storage system (BESS) across UK and Europe by 2030. Under the agreement, Sungrow will provide its PowerTitan 2.0 liquid-cooled energy storage systems (ESS) for Fidra’s Thorpe Marsh and West Burton C sites in the UK.
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RIC Energy, a renewable energy company, and Rosemawr Management, an investment firm specialising in municipal and sustainable infrastructure, have announced a financing partnership. This partnership will provide funds for interconnection deposits, supporting the development of up to 450 MW of solar and energy storage projects across New York over the next three years.
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ACWA Power has inked an Implementation Agreement (IA) with Uzbekistan’s Ministry of Energy to develop up to 2 GWh of standalone Battery Energy Storage Systems (BESS) across the country. The agreement was signed at COP29 in Baku. This agreement builds on a MoU from May 2024.
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Multiple nations have committed to the Global Energy Storage and Grids Pledge. The pledge, which was proposed by the COP29 Presidency, calls on governments and non-state actors to commit to a deployment target of 1,500 GW of energy storage, doubling grid investment and the development of 25 million kilometres of grid infrastructure by 2030.
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The Emerging Africa & Asia Infrastructure Fund (EAAIF), the Dutch entrepreneurial development bank (FMO), and Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) have jointly announced an investment of €84 million in two photovoltaic solar plants with battery storage systems in the Kolda region of southern Senegal. These projects will be operated by Axian Energy.
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Serentica Renewables has announced plans to develop 10,000 MW of renewable energy projects in Andhra Pradesh, India combining solar, wind, and storage technologies to deliver round-the-clock green power. Reportedly, Serentica is targeting an expansion of its renewable energy portfolio to 17,000 MW by 2030, with 5,000 MWh of storage capacity planned.
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This report concludes that PJM’s current implementation of SIS unnecessarily constrains this vital option to address the region’s reliability puzzle. PJM needs more storage resources to support the system as it transitions to include more intermittent resources, yet it limits BESS’s ability to participate in SIS. PJM can achieve this result by adopting best practices for SIS implementation from other jurisdictions like MISO and SPP.
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EDF Renewables has secured a 20-year Energy Storage Power Purchase Agreement (PPA) with Arizona Public Service (APS) for the Beehive Battery Energy Storage System (BESS) located in Peoria, Maricopa County, Arizona. This stand-alone battery system will feature a 250 MW capacity with a four-hour duration and is slated to begin construction in 2025.
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