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Mexico weighs $4.6 billion financing vehicle for renewable energy, storage projects
The Mexican government and Banobras are evaluating a financing vehicle of up to MXN 80 billion ($4.6 billion) to support renewable energy and battery storage projects developed by private companies in partnership with state utility CFE.
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Indian government: No funds for BESS in FY25 as projects fail to secure financial close
Under the viability gap funding scheme (VGF), the central government pays for up to 30% of the capital cost of battery energy storage projects to help make them financially viable. The funds are disbursed in five tranches, including the first 10% upon a project's financial close.
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Varta emerges from restructuring procedure with fresh capital
The German battery manufacturer now has two new indirect shareholders: Porsche and Austrian entrepreneur Michael Tojner. They are providing financing totaling €120 million. Furthermore, Varta has significantly reduced its debt to €230 million, according to the company’s statement. With this, the company's restructuring procedure has now been completed.
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Spain proposes Andalusia get almost half of EU’s €700 million energy storage aid package
The draft rules published by Spain's Ministry for the Ecological Transition and the Demographic Challenge (MITECO) suggest Andalusia should receive almost €312 million ($336 million) of the €700 million disbursed by the European Union's regional development fund to drive energy storage.
Hithium files for Hong Kong listing as global demand for energy storage surges
Chinese battery maker Hithium has filed for a Hong Kong listing, aiming to capitalize on the booming energy storage market. With a rapid rise in shipments and strong revenue growth, the company seeks to expand its production capacity, enhance R&D, and accelerate global expansion.
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