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‘EU aim of 90% European batteries by 2030 is way off’
European battery cell demand could hit 1 TWh per year by 2030 so domestic manufacturing capacity is vital to avoid dependence on Asia. Germany's Fraunhofer Institute for Systems and Innovation Research (ISI) says the European Union's 90% local battery target will be missed in half of its modeled scenarios.
China scraps energy storage mandate for renewable energy plants
In a major policy shift towards electricity market liberalization, China has introduced contract for difference (CfD) auctions for renewable energy plants and removed the energy storage mandate, which has driven up to 75% of the nation's demand to date. S&P Global expects the move to reverberate throughout the global battery energy storage supply chain, further driving down prices that are already at historically low levels.
UK T-4 auction paves the way to nearly 7 GW of new BESS capacity by 2028
Out of the 6.9 GW of battery energy storage systems (BESS) prequalified, which translates into 1.9 GW derated capacity, around 1.8 GW of derated BESS secured 15-year contracts in the UK's T-4 auction. This is nearly two time more than the volume procured last year. Only a week earlier, a record for BESS procurement was also set in the T-1 procurement.
Ark, Hanwha ink supply deal for 2.2 GWh BESS in Australia
Ark Energy, the Australian subsidiary of Korea Zinc Company, has signed a supply agreement with Hanwha Energy for the battery energy storage system at Ark’s proposed Richmond Valley hybrid solar battery project in the state of New South Wales.
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‘EU aim of 90% European batteries by 2030 is way off’
European battery cell demand could hit 1 TWh per year by 2030 so domestic manufacturing capacity is vital to avoid dependence on Asia. Germany's Fraunhofer Institute for Systems and Innovation Research (ISI) says the European Union's 90% local battery target will be missed in half of its modeled scenarios.
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China scraps energy storage mandate for renewable energy plants
In a major policy shift towards electricity market liberalization, China has introduced contract for difference (CfD) auctions for renewable energy plants and removed the energy storage mandate, which has driven up to 75% of the nation's demand to date. S&P Global expects the move to reverberate throughout the global battery energy storage supply chain, further driving down prices that are already at historically low levels.
UK T-4 auction paves the way to nearly 7 GW of new BESS capacity by 2028
Out of the 6.9 GW of battery energy storage systems (BESS) prequalified, which translates into 1.9 GW derated capacity, around 1.8 GW of derated BESS secured 15-year contracts in the UK's T-4 auction. This is nearly two time more than the volume procured last year. Only a week earlier, a record for BESS procurement was also set in the T-1 procurement.
Ark, Hanwha ink supply deal for 2.2 GWh BESS in Australia
Ark Energy, the Australian subsidiary of Korea Zinc Company, has signed a supply agreement with Hanwha Energy for the battery energy storage system at Ark’s proposed Richmond Valley hybrid solar battery project in the state of New South Wales.
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