A consortium of developers has achieved financial close for US$1.3bn in debt facilities for the Red Sea project, a huge resort under construction off the coast of Saudi Arabia which plans to have the largest off-grid battery energy storage system at 1,200-1,300MWh.
Asia-Pacific will overtake North America as the biggest utility-scale energy storage (UES) market by annual installed gigawatts (GW) by 2024-2025, according to a new report by Guidehouse Insights, one to two years later than in the firm’s previous forecasts.
The energy storage division of solar PV inverter manufacturer Sungrow has signed a 430MWh battery energy storage system (BESS) contract with Israel’s Enlight Renewable Energy.
The new edition of our quarterly journal PV Tech Power, volume 29, is now available to download, including our comprehensive cover story on solar’s critical next decade.
Long-duration energy storage has a crucial role to play in decarbonising the global energy system sufficiently to avoid catastrophic climate change as long as its value can be unlocked.