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Budderfly plans 150 MW municipal VPP with solar, storage in US cities
Budderfly says it plans to aggregate municipal energy systems into a 150 MW virtual power plant (VPP) under a $500 million program to finance solar, battery storage and efficiency upgrades for US cities. Its first disclosed municipal contract, in Cadillac, Michigan, runs for 15 years.
Siemens leads ‘9-figure’ investment into Skeleton Technologies for AIDC power solutions
Skeleton Technologies will use Siemens' investment to expand US manufacturing and Silicon Valley R&D for ultracapacitor-based systems that smooth AI data center loads, while Siemens gains exclusive global rights to sell its products to data centers.
Grenergy secures $457 million for 1.8 GWh Chile battery portfolio
Grenergy has secured $457 million in non-recourse financing for a 242 MW solar-plus-storage project at Algarrobal and a 204 MW distributed solar portfolio in Chile, with six projects in the portfolio set to add 289 MWh of battery storage.
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U.S. government releases IRA’s prevailing wage and apprenticeship requirements
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final rules on the Inflation Reduction Act’s (IRA) prevailing wage and registered apprenticeship requirements. Developers of clean energy projects may be able to claim an increased credit equal to five times the base incentive.
Arizona’s largest energy storage project closes $513 million in financing
In the USA, the 1,200 MWh Papago Storage project will dispatch enough power to serve 244,000 homes for four hours a day with the e-Storage SolBank high-cycle lithium-ferro-phosphate battery energy storage solution. Recurrent Energy, a subsidiary of Canadian Solar Inc. has secured $513 million in project financing for its Papago Storage project located in Maricopa County, Arizona.
New York offers $5 million for long-duration storage projects
The funding will advance the development and demonstration of scalable innovative long duration energy storage (LDES) solutions and be available via a competitive solicitation run by the New York State Energy Research and Development Authority (NYSERDA).
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TWAICE, NARDAC team to improve insurance terms with battery storage analytics
German battery analytics technology provider TWICE and NARDAC, UK-based insurance broker focused on large energy and infrastructure assets, have partnered to enable improved insurance coverage for battery energy storage system (BESS) asset owners, investors, and lenders.
Gresham House, Octopus sign two-year, fixed-price BESS deal
One of the United Kingdom’s largest battery storage investors has signed fixed price contracts for roughly half of its portfolio in a landmark deal for the British market. Battery storage market intelligence firm Modo Energy estimates the tolling arrangement to be worth GBP 56,000 ($71,584) per MW per year.
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