Energy Storage & Hydrogen News - May 17th, 2024
This week's TOP 5+1 features news on the development of two BESS projects in Australia: a 1.2GWh BESS at a coal power plant, and a 400MWh BESS. There is also news on the commissioning of Energy Vault’s first commercial-scale gravity storage system in China. On another note, Ontario made Canada’s biggest BESS procurement with 1.8GW selected, and 1.67GW of bids from battery storage were successful in Japan’s low-carbon energy capacity auction. BESS revenues and project development are expected to improve in Netherlands, due to a regulatory change concerning the grid fees. This week’s hydrogen article deals with Plug Power USD300 million net loss in Q1.
Top 5 Energy Storage news
- Canada’s biggest energy storage procurement, selecting 1.8GW of projects, was made by the Ontario Independent Electricity System Operator.
- Japan launched the first auction for low-carbon energy capacity, in which 1.67GW of energy storage were successful.
- New regulation on grid fees in Netherlands could improve BESS revenues and double project deployment.
- The state of Queensland, Australia, is investing AU$448 million for the development of a 1.2GWh BESS at Stanwell coal power plant.
- In China, commissioning has been completed for the first commercial-scale project using gravity storage technology from Energy Vault. The firm is also ordered a 400MWh BESS project in Australia.
+1 Hydrogen news:
- US hydrogen solution provider Plug Power disclosed a USD300 million net loss during Q1.