At the end of 2024, Australian renewable energy developer ZEN Energy, in partnership with Taiwan’s HD Renewable Energy (HDRE), announced plans to establish a joint venture in Australia that will target 1GW of energy storage capacity.

Western Australia’s Economic Regulation Authority has set the peak and flexible benchmark reserve capacity prices (BRCPs) at AU$360,700/MW (US$224,898/MW) annually from 2027-28.

Solar PV developer Lightsource bp has started construction on two solar-plus-storage projects in Queensland and New South Wales, Australia, following success in the first tender of the Capacity Investment Scheme (CIS).

Research firm Wood Mackenzie has found that daily price volatility from renewables on Australia’s National Electricity Market (NEM) supports a stronger battery revenue outlook.

China-headquartered electronics firm Huawei has secured a supply agreement to provide a 4.5GWh battery energy storage system (BESS) for the Meralco Terra Solar project in the Philippines.

Australian utility Origin Energy has confirmed that the first stage of the Eraring battery energy storage system (BESS) has been energised.

A report by CSIRO has found that large-scale BESS capital costs have improved the most in 2024-25, falling by 20% year-on-year (YoY).

US renewable energy developer, Longroad Energy announced financial close of 111MWdc solar and 85MWac/340MWh storage project Sun Pond in Maricopa County, Arizona 4 December.

French independent power producer (IPP) Neoen has agreed to sell its operational and development projects in Victoria, Australia, including the 350MW/450MWh Victorian Big Battery, for AU$950 million (US$610 million).

Western Australia’s GreenTech Hub, dedicated to supporting emerging green technologies, will explore advanced energy storage systems as its first challenge.