Energy Storage & Hydrogen News - May 24th, 2024
This week's TOP 5+1 features news on the development of three BESS projects: a 760MWh deal in Saudi Arabia, Voltalia’s 1GWh project in Uzbekistan, and a 230GWh developed by Nofar Energy in Germany. There is also news on the completion of a US$150 million financing from Apex for ERCOT BESS projects. On another note, BESS development costs are expected to keep falling in 2024. Finally, first tests have been completed for hydrogen storage in Germany.
Top 5 Energy Storage news :
- In Saudi Arabia, Sungrow agreed on a partnership to develop a 160/760MWh BESS project, coupled with 165MW of PV inverters.
- Voltalia will add a 50MW/100MWh BESS to its 126MW solar PV project in Uzbekistan. It also plans on building another project ten times as big.
- Nofar Energy and Sungrow signed a deal for a 230MWh project in Germany.
- Apex secured US$150 million financing with First Citizens Bank for two ERCOT BESS projects.
- BESS project development costs will keep falling in 2024, with lithium costs significantly dwindling, according to BMI research.
+1 Hydrogen news:
- EWE, German energy service provider, successfully completed the first phase of tests for a 500 cubic meter underground hydrogen storage cavern near Berlin.