Somalia’s MoEWR tenders for 46 off-grid solar-plus-storage projects in Mogadishu, totalling over 5MWh

Banadir covers the same area as the capital of Somalia, Mogadishu, and the 46 sites are all education facilities in the city. The projects will include two years of operations and maintenance (O&M) services with the possibility of contract extension.
The deadline is 1 August, 2024, and bids need to be sent physically to the interim project coordinator’s address, which is in the tender documentation on the MoEWR website here.
The tender document specifically calls for lithium-ion BESS technology alongside monocrystalline or polycrystalline PV modules. The 46 projects range from a minimum of 250kW PV and 100kW/800kWh of BESS at the high end to a minimum of 16kW PV and 20kW/50kWH BESS at the low end.
All in all, the 46 projects at up to a total (minimum) of 1.6MW of solar PV and 1.26MW/5.3MWh of BESS technology.
The projects are part of the goverment’s Somalia Electricity Sector Recovery Project (SESRP), launched in 2022. The World Bank-funded project aims to increase access to sustainable and clean energy through private sector participation in Somalia, the Bank said.

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Southeast Asia’s learning curve for energy storage adoption in focus at ESS Asia 2024

Through a varied programme that tackled both technical and business-related topics, the need to make technologies bankable as well as provide regulatory frameworks to help give monetary value to storing and discharging energy was consistently mentioned.
In terms of geographies, the event largely looked at Southeast Asian countries but also included some focus on Japan and other regions in Asia, although China and India, which are more self-contained regional markets within themselves, were mostly discussed tangentially.
There are “huge opportunities, but many challenges,” said Vikram Kumar, regional head for Infrastructure and Natural Resources, Asia-Pacific at the World Bank’s International Finance Corporation (IFC).
Kumar delivered a keynote speech on the first day of ESS Asia, noting the pivotal role that energy storage can play in delivering high-impact progress to the transition to renewable energy sources from fossil fuels.
Storage and renewables can also enable better access to stable electricity supply for populations across the nations, many of which are islands or archipelagos without interconnected electricity grids.
“Yes, there are huge opportunities, but there are many challenges. There are many regulators in this room. When I reflect on the challenges, I do want the regulators to think about some of these challenges,” Kumar said.  
“They might be in creating revenue streams for ESS and their services, come out with possible business models in different countries. There are, and we are all aware of policy gaps.” Kumar said, which might be filled with incentives and tariffs for energy storage, and “balanced policies that balance inter-sector interests”.
The technical capabilities and institutional strengthening required for widespread deployment, particularly at planning departments for load dispatch still have a long way to go in their development, and Kumar said the gaps between supply and demand for energy storage are resulting in long lead times for deployment.
Regulators must recognise value of energy storage
Andre Susanto, chief technology officer (CTO) at utility-scale solar PV and BESS developer Quantum Power Systems, discussed regulatory development in an interview with Energy-Storage.news.
The biggest factor holding back development, Susanto said, is a general lack of recognition for the services that energy storage can provide, meaning that there is a shortage of frameworks for monetisation of those services.
“A lot of it is because of the lack of regulation. Even when you do have a grid code, there’s no enforcement of the grid code, so if you don’t have any enforcement then what good is storage?”
Susanto offered the example of Vietnam, which has a high level of solar PV deployment, largely due to feed-in tariff (FiT) subsidies, but no corresponding support for energy storage to integrate that renewable energy capacity onto the grid.
“Some of the existing projects that are already operational [in Vietnam] are being curtailed significantly and unexpectedly. In that case, some of those projects, you can come in and say: ‘Is there a way we can sit together, calculate the cost-benefit ratio of installing storage, so you can sell more [power], so maybe you don’t lose so much money?’” Susanto said.
While that example refers specifically to Vietnam and its high levels of solar curtailment, Susanto said that regulators could consider the valuation of storage and monetising their services throughout the whole region of Southeast Asia.
Perhaps the good news is that broadly speaking, the forward development now relies on regulators more than it does on policymakers.
Politicians in the region are making commitments toward increasing the share of renewable energy in the generation mix in their respective countries but implementing that change must lean on the capabilities of storage technologies, whether batteries, pumped hydro energy storage (PHES), or something else.
One leading example of proactive policy engagement is to be found in the Philippines, the government of which views energy storage as key to success in delivering renewable energy targets. During the ESS Asia event, Philippines Department of Energy (DOE) assistant secretary Marco C. Marasigan announced that a forthcoming round of government renewable energy auctions will include energy storage.
‘Lenders don’t like risk’
The other side of the coin is de-risking investments in energy storage technologies and projects, and that perhaps comes down more to the private sector, specifically banks and the investment community.
In ‘Using storage to enhance the grid,’ a panel discussion on day two of the event moderated by Quantum Power’s Andre Susanto, Ashraf Rahman, director for renewables, utilities, and infrastructure at Sumitomo Mitsui Banking Corporation (SMBC), noted that banks are naturally risk averse.
“Unfortunately, most financiers don’t like risk. The tendency is that we are actually kind of limiting the energy storage usage for the grid,” Rahman said.
This is because mostly, SMBC and other lenders will be looking at two particular revenue structures or business models that they deem financeable: capacity contracts and energy contracts.
Therefore, they don’t look at ancillary services like frequency regulation or grid stability services like inertia, which might more typically be merchant market plays, rather than capacity or energy, which would be tied into long-term power purchase agreements (PPAs) or government contracts.
Again, this is nothing new from the perspective of the global energy storage market. Energy-Storage.news has consistently heard over the years from more mature markets like the UK or US that long-term contracts that offer some degree of revenue certainty are preferable from a lender’s perspective to merchant risk, even though markets like ERCOT in Texas or the National Electricity Market (NEM) in Australia might offer higher returns overall.
There is also a lack of competitive frameworks for providing ancillary services in Southeast Asia of the type that has enabled those merchant plays in other regions too, Rahman said.
Moderator Andre Susanto commented that developers might be able to create business models for providing a holistic suite of services that could, in turn, be monetised over long-term contracts. Again this would require the right regulatory frameworks to be in place.
“It’s a bit of a breakthrough that’s not quite there yet,” Susanto said.
“But when we can start saying to the utility companies, ‘look, here’s the BESS that can provide the function and the services you need, give us a long-term contract for it’. Not just services just when you need the peak, just when you need the frequency regulation, but [also] spinning reserves etc.”
Rising shares of renewable energy should compel closer look at valuation of storage
At present, there is a feeling that the responsibility is being placed on solar and wind generators to find ways to integrate their resources in many Southeast Asian countries, Andre Susanto said.
With the exception of Vietnam, most countries in the region haven’t yet reached the threshold of variable renewable energy (VRE) penetration on their grids that will require regulators to consider how to cope with a high renewables electricity mix, panelist Nick Morely, APAC technology lead with developer Eku Energy, said.
That too was the case for the world’s more mature energy storage markets a few years ago, but the likes of National Grid Electricity System Operator (ESO) in the UK or the Australian Energy Market Operator (AEMO) have in recent years been compelled to become increasingly proactive in helping to support storage through the markets.
For example, grid-forming inverters at battery storage plants can provide synthetic inertia to the grid previously provided by the spinning mass of thermal power plants and long-term contracts for this grid stability service have started to be written in the UK and Australia.
Those contracts provide only a relatively small portion of the potential revenues that BESS assets can stack, alongside merchant opportunities, or even PPAs, but are still important in providing that revenue certainty that lenders need to see, Nick Morley said.
“The idea is that it’s a stacking opportunity, it’s not the sole purpose of the battery, and that’s really the key to advanced grid services, and making them cost-effective and also allowing them to be considered in the revenue stream by lenders, getting these fixed-term contracts from utilities.
“For that to happen, utilities need to understand the nature of the problem. If they don’t have any, or a significant percentage of grid-following inverters and wind and solar on the grid, there may not be a need, so it’s tied to the deployment of other renewables, and the development of policy and planning policies.
“So I think it’s too early for us to see that in most of Southeast Asia. They’re not having the penetration of renewables that would justify it, but certainly, in the UK and Australia, those contracts are starting to come through, and we can stack those on top of our revenue streams.”
   

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Southern California Edison considers withholding liquidated damages from Ameresco after 2.1GWh portfolio delays

US$1.226 billion contract value 
The California Public Utilities Commission (CPUC) approved the EPCM agreement, worth an estimated US$1.226 billion, in December 2021 after SCE carried out a competitive procurement process conducted between August and October in 2021.
SCE carried out the procurement to find a developer capable of deploying BESS facilities at sites owned and operated by the California utility. The three facilities were expected to be online by the end of August 2022 to provide SCE with incremental capacity to meet peak electricity demand during the summer season, however, this isn’t how events panned out.
Series of delays and force majeure events
In June 2022, Ameresco issued SCE with a force majeure event notice stating that a delay in the delivery of batteries from China would hamper the developer’s ability to complete the project before the contracted operational date. Ameresco blamed the delays on Covid-19 related factory shutdowns in China but also new shipping restrictions imposed by the Chinese government.
Towards the end of 2022, SCE instructed Ameresco to adjust the completion of the sites to 2023 after the utility was hampered by “permitting delays and engineering issues”.
In January 2023, SCE received another force majeure notice from Amereco stating that winter storms in Southern California had delayed the projects further.
Liquidated damages
SCE has informed Ameresco that it intends to withhold liquidated damages for one of the project sites, following Ameresco’s issuance of an invoice for the specific site in February 2024.  
In Ameresco’s recent quarterly 10Q report filed with the SEC, the developer stated that it was “working with SCE to analyse the applicability and scope of force majeure relief”, and that it doesn’t believe liquidated damages should be applied in this instance. 
Under the terms of the contract between the two parties, once liquidated damages have been triggered, they will accrue for a period up to 60 days up to a maximum of US$89 million.
Ameresco expects all three projects to be in-service by the end of July 2024, according to SCE’s parent company’s (Edison International) recent quarterly 10Q report. 
This is after it was reported in March last year that the portfolio would “reach substantial completion” by summer 2023, which was covered by Energy-Storage.News. 
Developer protests
The contract between Ameresco and SCE was protested by several prominent developers within the energy storage industry, including Broad Reach Power (now a part of Engie), Hecate Grid (jointly owned by Hecate Energy and InfraRed Capital), Avantus, Aypa Power, Strata Clean Energy and also Clearway Energy. 
The developers took issue with several elements of the proposed contract, including but not limited to: SCE obtaining permitting exemptions under the California Environmental Quality Act (CEQA), the cost of the development being “well above” similar industry resources and SCE excluding third-party ownership options.  
Despite these protests, CPUC approved the contract with only one minor modification. 
Ameresco to construct BESS facility for Pacific Northwest utility 
In other news, it was announced this week that Ameresco had struck a deal with Snohomish County Public Utility District (PUD) to construct a 25MW/100MWh BESS for the Washington-based public utility. 
Under the terms of the agreement, Ameresco will own the facility and Snohomish PUD will be the exclusive offtaker of power from the facility through a tolling arrangement. In the 8 July 2024 announcement, Ameresco stated that it expects to commence construction on the project towards the end of this year, with the facility set to come online in 2025. 
The agreement follows similar arrangements which Ameresco has secured over the past few years. A ribbon cutting ceremony (pictured) was recently held at the site of a 18.6MW solar and 6MW/6MWh BESS facility which Ameresco had constructed for the US Army in Maryland. 
The Fort Detrick US Army Base is purchasing energy from the Ameresco facility under a 25-year power purchase agreement (PPA).  

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Mercom: 90% of India’s 219MWh BESS fleet is paired with solar PV generation

The report’s authors also found that around 1GW/1.6GWh of standalone BESS, projects were in various stages of development around the country at that time and 9.7GW of renewable energy development projects included energy storage.   
In addition, India’s existing 3.3GW fleet of pumped hydro energy storage (PHES) could be significantly boosted by the completion of some of the 18.1GW of PHES projects in development that Mercom identified.
In the first quarter of the year, 40MW/120MWh of utility-scale battery storage was added to the grid, represented by one solar-plus-storage project in the state of Chhattisgarh.
The state-owned Solar Energy Corporation of India (SECI) announced its commissioning in February, and India’s prime minister, Narendra Modi, visited the plant for its official inauguration, as reported by Energy-Storage.news.
It meant that Chhattisgarh, in central India, was home to 54.8% of India’s total installed utility-scale BESS capacity.
Meanwhile, Rajasthan—which Mercom noted in April was the leading Indian state for solar PV deployments with 29% of total installed cumulative capacity by the end of Q1, as reported by our colleagues at PV Tech—accounted for more than 61% of the pipeline of planned BESS installations.
411GWh will be needed by early 2030s to meet India’s renewable goals
The growth in energy storage deployments and development are relatively small but significant steps in getting India towards a projected requirement for 82.37GWh of energy storage by 2026-2027.
That’s according to the national Central Electricity Authority (CEA), which has modelled how much storage, including batteries and PHES, will be needed to get the country towards its goal of deploying 500GW of non-fossil fuel generation by 2030.
By 2031-2032, that requirement will grow to 74GW/411.4GWh, with 175.18GWh from pumped hydro and 236.22GWh from BESS, according to the CEA’s National Electricity Plan published last year.
India targets net zero emissions by 2070 and the Union Government has identified energy storage as a key technology set to enable that goal while providing stability and flexibility to the grid, as well as extending access to electricity to rural areas.
Various tenders have already been held to promote this uptake of energy storage. Roughly 9GW of tendering for round-the-clock renewables backed with storage was held from January to September last year from national and state-level agencies, including SECI, and distribution companies (discoms).
From there, Mercom found that in Q1 2024 alone, 7.4GW of tenders relating to energy storage, including standalone and renewable-paired, were held across India. Mercom said that by the end of the first quarter, 57GW of tenders had been issued in total, with 11.5GW of awarded projects.
The industry anticipates the imminent tendering of 4,000MWh of capacity from standalone BESS projects supported with Viability Gap Funding (VGF) from India’s government, to be hosted by SECI.
The government Ministry of Power has also created the Energy Storage Obligation (ESO) regulatory framework for mandated increases in storage deployment by entities deploying large-scale solar PV and wind generation. The ESO started at 1% in 2023-2024, and will rise 0.5% annually to 4% by 2029-2030, only being treated as fulfilled when at least 85% of stored energy capacity is procured from renewable energy sources on an annual basis.
In the meantime, in June Energy-Storage.news reported on tender activities including a 250MW/500MWh solicitation from state-owned power producer NTPC, and SECI’s launch of a 1,000MW/2,000MWh standalone BESS tender, the country’s biggest so far for standalone facilities.  
According to one source Energy-Storage.news spoke with, it can be a relatively long process to get tendered projects from contract award status to completion, around two years from the receipt of Letter of Intent (LOI) issuance.

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The Mobility House bringing ‘second life’ optimisation experience to large-scale BESS expansion in Germany

Preparations for the first of these are ‘well advanced’, the company said, with a first 250MW phase in ‘concrete planning’ and a later expansion of 500MW also planned. The firm will reveal the location and system integrator in the next few months, but a spokesperson did tell Energy-Storage.news these would be 2-hour projects.
The company is mainly known for its activity in the V2G space, where it provides bidirectional charging solutions and the software to enable electric vehicle (EV) batteries to provide flexibility services in the electricity market. Last year it partnered with Renault to leverage its Renault 5 EV and electric car models in this way.
But, it also optimises stationary BESS including projects using second life batteries re-deployed from their initial EV design or application.
The spokesperson told Energy-Storage.news that the company has been commercialising batteries since 2016 and is co-owner and operator of ‘over 100MW, mostly with 1-hour systems’, in France, Germany and the Netherlands.
However, in its announcement, the company said that it ‘trades over 4,500 electric car batteries with more than 100MW capacity in the European power and energy markets’, so the figure may include both BESS and V2G.
“The learnings generated in designing, building, and operating first and second life systems over the past eight years have paved the way for the ‘build to commercialisation’ of large-scale BESS,” the spokesperson told Energy-Storage.news.
One of its stationary projects in Lünen in 2016 was the largest second life BESS in the world at the time, at 13MWh. That was in partnership with Mercedes-Benz Energy, whose CEO Energy-Storage.news interviewed about second life last year (Premium access).
“Based on our experience as one of the largest second life storage operators we build substantial battery analytics capabilities regarding controlling ageing drivers. The model outcomes are ingested in real time into our optimisation algorithms to ensure the costs of warranty penalties and degradation are always considered,” the spokesperson said.
Elements Green grid connection for 800MWh BESS project 
In related news, developer Elements Green this week announced that it has secured the grid connection for a project combining 35MWp of solar PV and a 400MW/800MWh BESS project in Germany. The project is in Alfstedt, Lower Saxony.
However, as with its announcement for a similarly sized project in Elsfleth a few months ago, also in Lower Saxony, it didn’t provide a target commercial operation date (COD).

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‘Europe can still diversify energy storage supply chain away from one country’

Similarly, the developer behind what could easily be Europe’s largest BESS at 2.4GWh (in Belgium), Giga Storage, said it was keen to utilise companies based in Europe for its projects.
“We want to contract with Tier 1 suppliers, most likely players that are based in Europe. If we are going into projects for 15-20 years you want to make sure you don’t have issues during that time. If you go for a supplier far far away who’s going to pick up the phone to deal with problems? That’s why you want to do business with Western mentalities and Western parties,” Giga’s CCO Lars Rupert said, also at the event.
Though Rupert conceded that China is ahead of the market on parts of battery energy storage system (BESS) technology, and obviously dominates the battery cell market.
It comes as China-based companies gain an increasing share of the global BESS market, something first noted by research firms last year. Hand-in-hand with that has come a convergence to the 20-foot, 5MWh-plus form factor product, which Energy-Storage.news explored in a Premium article yesterday.
The topic of onshoring the solar PV supply chain to Europe meanwhile, a big one at Intersolar, has been covered extensively by our sister site PV Tech.
Several EU-based companies have stressed the importance of using locally manufactured and integrated technologies for BESS projects. That includes the company behind Romania’s largest BESS, Prime Batteries, while Germany-based system integrator Tesvolt adamantly told Energy-Storage.news in an interview at the event that “we’re expanding here and will not move to another country. The market is accelerating and there is more and more competition from Asia and especially China.”
Both Prime and Tesvolt were exhibiting at the event, along with other companies that position themselves as having European intellectual property and supply chains at their core, like Rimac Energy.

Tesvolt, Rimac and Prime Batteries at ees Europe / Intersolar last month. Image: Solar Media.

On the battery cell manufacturing side, the EU recently passed its Net-Zero Industry Act (NZIA), at a time of mixed fortunes for local battery gigafactory projects, as Energy-Storage.news covered at the time. Since then, the company which has raised by far the most capital to build batteries in Europe, Northvolt, lost a US$2 billion contract with BMW after the automaker pulled out of the deal due to delays in Northvolt’s ramp-up.
Europe needs to compete with the US’ incentives for both BESS and battery cell manufacturing in attracting capital to its supply chain. France-headquartered system integrator Saft’s Michael Lippert told Energy-Storage.news that the firm will start manufacturing in the US later this year to reach a ‘significant domestic content’ portion for projects there, for example. “It’s complex and we’ll reveal more details at RE+ later in September,” he said.
On the battery cell side, Saft, in tandem with parent company TotalEnergies, is investing in European manufacturing via a stake in Automotive Cells Company (ACC), along with automotive OEMs Stellantis and Mercedes-Benz. Lippert did not mention any plans to launch BESS manufacturing in Europe, however.

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Octopus Australia wins planning approval for 1GWh standalone BESS project in Queensland

It would be one of the biggest BESS assets in the state, which has placed a major emphasis on the role of energy storage including batteries and pumped hydro, in its AU$62 billion (US$41.9 billion) Energy and Jobs Plan policy strategy.
In addition to projects set to be in public ownership, such as a 300MW/1,200MWh system at Stanwell Clean Energy Hub in Central Queensland, and support for upstream lithium-ion (Li-ion) and flow battery manufacturing and supply chain industries in the state, fully private sector projects like Blackstone Battery could also play a key role in delivering the state’s promised economic growth and progress towards renewable energy targets.
Queensland is aiming to get to 70% renewable energy by 2032, and 80% by 2035. According to government statistics, 27% of power generation in the state came from renewables as of February this year.
From Octopus Australia’s perspective, the company said the large-scale BESS will be used to help it balance its portfolio of renewable energy developments in Queensland. These include a 180MW operational wind farm and solar-plus-storage plant with 100MW of PV and 55MW/220MWh BESS the company is building adjacent to the wind plant, in Queensland’s Western Downs region.
The PV-plus-BESS plant, Ardandra, was the single largest renewable energy generation project under construction in Australia as of August last year, according to a report from the Clean Energy Council (CEC) trade association
Blackstone will be sited 30km from state capital Brisbane, on a 9-hectare site in the industrial locality of Swanbank in Ipswich. Octopus bought the project from developer Firm Power in October 2023, with plans to connect to transmission operator Powerlink’s network via an existing 275kV substation in Swanbank.
The asset will play into the interconnected National Electricity Market (NEM) and Octopus said last year that it was targeting a Final Investment Decision (FID) in the second half of 2025.
Octopus Australia is in the portfolio of sustainable and disruptive industries investor Octopus Group. The group is the majority shareholder of Octopus Energy Group, which has a retail electricity arm (or tentacle) in the UK that is now the country’s biggest utility provider, and alongside renewables and BESS development, it also has Kraken Technologies, an energy tech platform that enables optimisation and trading of energy assets including batteries in different markets around the world.  
On acquiring the Blackstone Battery project last year, Octopus Australia head of investment and development Sonia Teitel said the asset would “enable innovative offtake products to be structured.”
Read more coverage from Queensland on Energy-Storage.news.

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UK: Cleve Hill BESS can proceed after successful appeal by developer

Earlier this year, our sister site, Solar Power Portal, reported that a local planning committee for Swale Borough Council refused an application to install the BESS asset at the project, formally known as Project Fortress.
Residents had feared using lithium ferrophosphate (LFP) batteries to store energy as these are “more subject to explosion risk than other types”, a BBC report read. One of the primary reasons for the safety management plan’s initial rejection was a “lack of water storage facilities on site, a lack of access to the battery storage area, and the lack of an evacuation plan.”
But in a win for large-scale solar farms, the decision has been successfully appealed, and the council’s conduct has been determined to have been unreasonable. As a result, the council must pay the developer’s appeal costs, and the project can go ahead.
The £450 million solar park was acquired by Quinbrook Infrastructure Partners from Hive Energy and Wirsol in 2021.
Gareth Phillips, partner and head of client relationships, global energy sector, at law firm Pinsent Masons, led the appeal and stated that the outcome is “confirmation that the developer’s battery proposals met the planning and safety requirements, and the local authority’s rejection of the plan was made without justification”.
See the original version of this article on Solar Power Portal.

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Powin to supply 880MWh BESS to DTE’s Michigan coal plant site project

The project is expected to be operational by 2026 and construction started on it last month. After completion, it will be one of the largest standalone BESS projects in the region, according to Powin.
The BESS will charge with low-cost energy during off-peak times when renewable energy production is abundant, enabling DTE to manage its peak loads and accommodate more wind and solar on its grid.
The project is located at the site of a decommissioned coal power plant in Trenton, Michigan. Known locally as Trenton Stacks, the Trenton Channel Power Plant was a coal-burning generation facility that had run since its opening in 1924. This storage project costs up to US$460 million, according to the Michigan Public Service Commission (MPSC).
DTE Energy got the regulatory go-ahead from the Michigan Public Service Commission (MPSC) for the Trenton BESS project in March, as the stacks were finally demolished.
State governor Gretchen Whitmer said that DTE Energy began the construction of the project with support from the US government’s Inflation Reduction Act (IRA). According to the utility, the required Capex investment has been offset by US$140 million of incentives the company was able to avail of through the 2022 IRA legislation’s tax credits and provisions for infrastructure spending.
“We believe this project will serve as an inspiration for the entire utility sector, demonstrating the potential and impact of advanced energy storage solutions in achieving a sustainable energy future,” said Jeff Waters, CEO of Powin.
The Michigan government plays a key role in supporting Michigan’s energy storage sector as part of the governor’s Clean Energy Future Plan passed in November 2023. The state boasts a 100% clean energy target by 2040 and carbon neutrality by 2050, making Michigan the first state in the US Midwest to commit to a net zero goal. It is targeting 2.5GW of energy storage by 2030 to help reach those goals.

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Grenergy secures financing for first phases of ‘world’s largest BESS’, in Chile

The financing covers phases one and two of its Oasis de Atacama battery energy storage system (BESS) project, totalling 244MWp of solar and 1.24GWh of BESS capacity. Long-term, the project aims to reach 4.1GWh of BESS capacity.
Chinese EV and BESS firm BYD looks set to supply the BESS for those first phases of the project, which should be completed in 2025.
Grenergy has frequently claimed the project as ‘the largest energy storage project in the world’, since revealing it in November 2023, though clearly it means BESS only, as many existing pumped hydro energy storage (PHES) projects are larger. Grenergy will invest US$1.4 billion in the project.
In January it revealed it has signed a power purchase agreement (PPA) for the fourth phase of the project, having already done so for the prior three phases, as covered by our sister site PV Tech. It now has PPAs for 75% of the project’s capacity, it said.
Grenergy’s executive chairman, David Ruiz de Andrés, commented: “This operation demonstrates the banks’ confidence in the hybridisation of solar plants with storage, and in Grenergy’s business model, which continues to make progress in becoming a world leader in storage.”
Energy-Storage.news’ publisher Solar Media will host the 3rd annual Energy Storage Summit Latin America in Santiago, Chile, 15-16 October 2024. This year’s events bring together Latin America’s leading investors, policymakers, developers, utilities, network operators, EPCs and more all in one place to discuss the landscape of energy storage in the region. Visit the official site for more info.

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