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.
Standalone storage, demand from commercial and industrial (C&I) customers and new types of grid services will increasingly help drive growth in energy storage in the coming years, but the future mix between battery-based and alternative storage types is still unclear.
Investors are becoming increasingly comfortable with energy storage as an asset class but numerous regulatory and market design hurdles remain across European markets.
Construction has started on BHP’s “first off-grid large-scale renewable energy project”, totalling 38 MW of solar power and a 10.1MW/5.4 MWh battery energy storage system (BESS), at two nickel mines in Western Australia which supply Tesla for use in electric vehicle (EV) batteries.
France’s first high-voltage transmission grid-connected battery project colocated with a solar PV plant will be equipped with a battery energy storage system (BESS) from Saft.
A clarification of the status of energy storage systems (ESS) in India’s power sector, issued by the government’s Ministry of Power, has described the various technologies as “essential” to achieving national renewable energy goals.
Energy technology company Wärtsilä has announced battery energy storage system (BESS) projects in two new markets for the company, with orders from customers in Chile and Belgium.
