The batteries will serve as a power reserve, provide grid support and enable the increased use of renewable energy Rolls-Royce has won a contract to supply three 40-foot battery storage technologies for a microgrid on Cook Island. The MTU EnergyPacks will be integrated into an existing power plant run by local utility Te Aponga Uira […]
Opportunities develop for battery storage ‘despite the turmoil caused by COVID-19’, IHS Markit says
The market for grid-connected energy storage will defy the “headwinds” caused by the coronavirus pandemic on industries across the world, analysis firm IHS Markit has predicted. The team at the IHS Markit Energy Storage Service has forecast that global installations will grow by over 5GW this year, despite disruption caused by COVID-19. Battery energy storage […]
40GW of battery storage and longer durations could help smash UK net zero targets
More electricity storage and longer durations of storage will be needed for the UK to meet net zero targets, according to electricity system operator National Grid ESO’s latest modelling. Electricity storage deployment increased in all four of its decarbonisation scenarios, which were outlined in National Grid ESO’s annual ‘Future Energy Scenarios’ document exploring pathways from […]
Coal reaching ‘tipping point’ vs renewables: analysis
The authors estimate that a third of the global coal fleet is already more costly to run than it is to build new renewable power solutions, including battery storage Paris: Renewable energy such as wind and solar projects are already cheaper to build than it is to continue operating 40 percent of the world’s existing […]
Battery storage to grow to 26 GW by 2030 from 3 GW in 2020
The use of batteries for energy storage is expected to grow faster than that of other flexible assets in the period to 2030 and beyond, consultancy Wood Mackenzie said in a research note. Battery storage will increase to 26 gigawatts (GW) by 2030 from 3 GW in 2020 across the five major European power markets, […]
ADB Finances First Wind Power and Battery Storage Project in Thailand
BANGKOK, THAILAND: The Asian Development Bank (ADB) has signed a THB235.55 million ($7.2 million equivalent) loan with Lomligor Company Limited (Lomligor), a subsidiary of BCPG Public Company Limited (BCPG), to finance a 10-megawatt (MW) wind power plant in southern Thailand. The project utilizes an integrated 1.88-megawatt-hour (MWh) pilot battery energy storage system to increase […]
Battery storage, smart grid, energy efficiency firms raise $252 mn in VC funding in Q1 2020: Report
For battery storage, total corporate funding including venture capital (VC), debt, and public market financing was $244 million in nine deals compared to $635 million in 10 deals in Q4 2019 New Delhi: Battery storage, smart grid, and energy efficiency companies raised $252 million in the first quarter (Q1) of 2020, a 20 per cent […]
India needs 50 GWh of battery storage within 2.5 yrs for planned EV transition: NITI Aayog official
EV batteries are not compatible for tropical climate, according to Sajid Mubashir, scientist, Department of Science and Technology, who was also speaking at the same event New Delhi: India will need 50 gigawatt hour (GWh) of battery storage capacity over the next two-and-a-half years to support the projected growth in renewable energy and meet the […]
BlackRock aims $2.5 billion at solar, wind, battery storage
The good news is that the world’s largest fund manager, BlackRock, just closed $1 billion of a record $2.5 billion fund dedicated to solar, wind, and energy storage projects. The bad news is that the $2.5 billion fund is a tiny fraction of BlackRock’s $6.96 trillion balance sheet and small change compared to BlackRock’s $17.5 […]
Sembcorp Energy UK Powers Up 60 MW of Ultra-fast Battery Storage
Solihull, UK : Sembcorp Energy UK is pleased to announce that the first 60 megawatts (MW) of its battery energy storage system (BESS) fleet are now in operation. Located in Asfordby in Leicestershire, and Ellesmere Port and Runcorn in Cheshire, the three battery storage sites recently came online following licensing approval and successful testing. These […]