Tag: BESS

Growing Markets for Grid-Connected Battery Storage in India

Growing Markets for Grid-Connected Battery Storage in India

October 6, 2024 |

India’s electricity infrastructure strained to meet soaring demand and experienced its greatest peak power shortfall since 2010. Meanwhile, on the distribution grid, infrastructure also reached a breaking point: nearly 600 transformers failed in Kerala during the summer heatwave. These challenges threaten the affordability and reliability of India’s power system, especially as increasing heatwaves and climate events are expected to persist in the coming years. Fortunately, a solution is emerging: battery energy storage systems (BESS). To achieve necessary BESS deployments, India’s power system regulators and Discoms can recognize and provide mechanisms to monetize the full value of BESS.

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GE Vernova and Lizard Renewables form JV for clean energy projects in Italy

GE Vernova and Lizard Renewables form JV for clean energy projects in Italy

September 18, 2024 | , , ,

GE Vernova and Lizard Renewables have announced the creation of Alva Power, a 50-50 joint venture (JV). This collaboration aims to advance Italy’s electrification and decarbonisation objectives by financing the development of renewable energy projects. Alva Power will leverage GE Vernova’s global financial and technological strengths and Lizard’s regional network to drive new renewable energy initiatives.

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TotalEnergies to develop 100 MW/200 MWh battery storage project in Germany

TotalEnergies to develop 100 MW/200 MWh battery storage project in Germany

July 24, 2024 | , ,

TotalEnergies has concluded its final investment decision for a 100 MW/200 MWh battery storage project in Dahlem, North Rhine-Westphalia. This is the first project approved by TotalEnergies from its recent acquisition of Kyon Energy, a german battery storage system developer, which was finalised in February 2024. Furthermore, the project has an investment exceeding €75 million.

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Akaysha Energy obtains A$650 million in funding for Orana BESS

Akaysha Energy obtains A$650 million in funding for Orana BESS

July 15, 2024 | , ,

The Orana battery energy storage system (BESS) project in New South Wales, Australia, has reached an agreement for A$650 million with Akaysha Energy. Situated in the Central West Orana renewable energy zone, the Orana project will be built with funding from the three-year facility. The project is scheduled to be online in 2026 with a 1,660 MWh of projected capacity. 

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China Three Gorges Renewables announces a 18 GW energy project in Inner Mongolia

China Three Gorges Renewables announces a 18 GW energy project in Inner Mongolia

July 3, 2024 | , ,

China Three Gorges Renewables, a Chinese state-owned power company, is planning to develop a massive 18 GW energy project in Ordos, Inner Mongolia. This $11 billion project will comprise 8 GW solar PV project, 4 GW of wind, 4 GW of coal-fired power and 5 GWh of battery energy storage. 200 MW of solar thermal capacity is also planned as part of this project. Construction on the project is expected to begin in September 2024 and the project is planned to be ready for commissioning by 2027.

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ACWA Power inks $533 million financing agreements for Tashkent Riverside Project in Uzbekistan

ACWA Power inks $533 million financing agreements for Tashkent Riverside Project in Uzbekistan

July 2, 2024 | , ,

ACWA Power has completed the dry financial close for the Tashkent Riverside project in Uzbekistan for a value of $533 million. This project includes a 200 MW solar photovoltaic facility and a 500 MWh battery energy storage system (BESS) to enhance the stability of Uzbekistan’s power grid. Six lenders have signed financing agreements, including EBRD, IsDB, DEG, Proparco, Standard Chartered, and KfW-IPEX Bank. The total debt financing amounts to $386 million.

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Pacific Green to enter energy storage market in Poland

Pacific Green to enter energy storage market in Poland

June 26, 2024 | , ,

Pacific Green Technologies has announced plans to buy a majority stake in two large-scale in-development battery energy storage system (BESS) projects from an international developer in Poland, Europe. Furthermore, the balance of shares in each 50 MW project will be purchased, after certain project milestones are met. The acquisition of two 50MW projects totalling 400 MWh of capacity marks the company’s entry into Poland.

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LRE inks 15-year deal for 112.5 MW BESS in Arizona

LRE inks 15-year deal for 112.5 MW BESS in Arizona

June 5, 2024 | , ,

Leeward Renewable Energy (LRE) has inked a 15-year Long-Term Resource Adequacy Agreement with Pacific Gas & Electric Company for LRE’s 112.5 MW Sierra Pinta Energy Storage project in Yuma County, Arizona. Sierra Pinta is next to LRE’s 179 MW White Wing Ranch Solar project, which is currently under construction. Sierra Pinta Energy Storage project aims to bolster renewable energy deployment and has a storage capacity of 450 MWh.

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Neoen bags 380 MW contract for BESS in Canada

Neoen bags 380 MW contract for BESS in Canada

May 20, 2024 | , ,

Neoen has disclosed that its fully-owned subsidiary, Shift Solar Inc, secured a 380 MW / 4-hour capacity contract through a competitive tender organised by the Independent Electricity System Operator (IESO), Ontario’s electric grid operator. Grey Owl Storage will supply the IESO during 20 years from commissioning with additional capacity that will contribute to meet the province’s growing demands.

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Stonepeak and CHC establish a BESS Platform in Japan

Stonepeak and CHC establish a BESS Platform in Japan

May 15, 2024 | , ,

Stonepeak and CHC have announced the creation of a platform focused on the development, construction, and operation of energy storage projects in Japan. The platform will focus on developing, constructing, and operating BESS projects to accelerate Japan’s power industry decarbonisation by leveraging Stonepeak’s investment experience in Japan’s renewable sector and CHC’s technical expertise. 

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