The Hagersville Park financing qualifies as a green loan. Once commissioned, the project will be one of Canada’s largest battery energy storage (BESS) sites.
As the heavy majority of the U.S. energy grid approaches the end of its lifecycle, the time is now for a public-private task force to develop a comprehensive strategy to harden the grid and enable technologies that maximize the benefit of targeted investment in the most vulnerable areas.
Awarded by California’s Long Duration Energy Storage program, the grant will enable International Electric Power to install six megawatts of storage at one of the country’s busiest installations.
Early-stage battery and energy storage companies will have to disrupt conventional approaches, forge strategic partnerships, and navigate a landscape dominated by established giants.
Mitsubishi UFJ Financial Group provided the funding to help Convergent Energy and Power advance its energy storage and solar portfolio in North America.
The U.S. energy storage market continued its strong growth in Q3. Storage installations, which totaled 3.8 GW, increased by 80% from the previous year. A total of 3,431 MW and 9,188 MWh was deployed in the grid-scale segment, the largest capacity installed in a Q3 on record.
Also on the rise: The future of U.S. solar in five charts. Commercial and industrial rooftop solar business secures $847 million. And more.
The California facility will supply 280 MWh of electricity to support PG&E during peak demand periods.
Also on the rise: Boston doctors prescribe solar energy. Bridge financing keeps Meyer Burger afloat. And more.
The startup is targeting commercial demonstration projects in 2025 and large-scale U.S. manufacturing by early 2027.
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