Energy storage & hydrogen news - March 4th, 2022

This week’s TOP 5+1 features news about the results of the UK capacity market, the Spanish Ministry's support scheme for energy storage, the commissioning of an energy storage project in California, the unveiling of a $3 billion renewable energy precinct in Australia, the US $1.3 billion securement for the Red Sea Project.

Energy storge news


  1. UK Capacity market T-4 auction cleared at £30.59 /kW/year with a total of 42364 MW capacity awarded.
  2. The Spanish Ministry for the Ecological Transition and the Demographic Challenge opened a 50-million-euro scheme to support R&D energy storage initiatives.
  3. Terra-Gen’s 140 MW/ 560 MWh Valley Center Battery Storage Project is now operational.
  4. The $ 3 billion green energy precinct announced in Queensland aims at becoming the largest renewable precinct of the southern hemisphere.
  5. US $ 1.302 billion senior debt facilities have been secured for the 1300 MWh Red Sea Project in Saudi Arabia.

Hydrogen news

  1. MAN Energy Solutions plans on spending up to 500 million euros to become 'world-leading player' in hydrogen electrolysers.