Energy Storage

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Fluence Energy Records First-Time Profits as Net Income Surges 91.4% in Q4

Energy storage technology and solutions provider Fluence Energy recorded a net income of $4.82 million for the fourth quarter (Q4) of the fiscal year (FY) 2022-23, a...

December 1, 2023

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Gautamee Hazarika

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Energy Storage

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Market & Policy
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bp to Fully Acquire Lightsource bp for $320 Million

Global energy conglomerate bp will acquire an additional 50.3% interest in Lightsource bp for a base equity value of £254 million (~$320 million), taking full ownership...

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GUVNL Floats Tender for 500 MWh of Standalone Battery Energy Storage Systems

Gujarat Urja Vikas Nigam (GUVNL) has invited bids to set up pilot projects of 250 MW/500 MWh standalone battery energy storage systems (BESS) in Gujarat under...

November 30, 2023

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Arjun Joshi

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Energy Storage

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Tenders & Auctions
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US Announces $3.5 Billion to Strengthen Domestic Battery Manufacturing

The U.S. Department of Energy (DOE) has announced funding of $3.5 billion to boost domestic production of advanced batteries and battery materials. The initiative aims...

November 16, 2023

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Gautamee Hazarika

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Energy Storage

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Grid
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Coal Ministry Identifies 20 Abandoned Mines to Develop Pumped Storage Projects

The Ministry of Coal has identified 20 abandoned mines to evaluate their feasibility for setting up pumped storage projects and leveraging vast land banks’...

November 10, 2023

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Satish Shetty

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Energy Storage

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Market & Policy
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Flux Power’s Q1 FY24 Revenues Drop 17% YoY as Energy Storage Shipments Defer

Lithium-ion storage solutions provider Flux Power Holdings recorded a net loss of $2.11 million for the first quarter (Q1) of the fiscal year (FY) 2023-24, a marginal 1....

November 10, 2023

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Satish Shetty

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Energy Storage

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Market & Policy
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Researchers Develop Lighter, Cost-Effective Lithium-Sulfur Battery Design

Researchers from the Monash University in Australia and the Royal Melbourne Institute of Technology (RMIT) have unveiled a lithium-sulfur (Li-S) battery design with a...

November 6, 2023

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Staff

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Energy Storage

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Technology
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Stem’s Net Loss Jumps 124%, Despite High Revenues as Operating Expenses Surge

Stem, a smart energy storage company, reported a net loss of $77.1 million in the third quarter (Q3) of 2023, a 124% year-over-year (YoY) surge from the net loss of $34....

November 3, 2023

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Staff

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Energy Storage

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Market & Policy
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Amara Raja’s Q2 FY24 Profit Up 12.5% YoY as Sales Volume Grows

Amara Raja Energy & Mobility recorded a profit of ₹2.26 billion (~$27.1 million) during the second quarter (Q2) of the financial year (FY) 2024, a year-over-year...

November 3, 2023

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Gautamee Hazarika

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Energy Storage

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Markets & Policy
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Madhya Pradesh Invites Bids to Procure 500 MW Energy Storage Capacity

M.P. Power Management Company, Jabalpur (MPPMCL) has invited tenders for the procurement of 500 MW energy storage capacity for six hours of discharge with a maximum of...

October 30, 2023

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Gautamee Hazarika

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Energy Storage

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Tenders & Auctions
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Venture Capital Funding for Energy Storage Rises 115% in 9M of 2023

Global corporate funding in the energy storage sector witnessed a 31% year-over-year (YoY) decrease during the first nine months (9M) of 2023, with a total of $15.2...

October 26, 2023

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Gautamee Hazarika

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Energy Storage

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Market & Policy

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Mercom Research Focus
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Shakti Pumps to Supply 50,000 Solar Pumps in Maharashtra

Shakti Pumps, a company in the field of water pumping systems, has secured a Letter of Empanelment from the Maharashtra State Electricity Distribution Company Limited...

October 19, 2023

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Gautamee Hazarika

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Solar

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Tenders & Auctions
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Supreme Court Clarifies Ownership, Consumption Terms for Captive Power Projects

In a recent ruling, the Supreme Court of India reaffirmed that a user who owns 26% of a captive power-generating project and utilizes 51% of its electricity could be...

October 11, 2023

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Rakesh Ranjan

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Market & Policy

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Solar
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Industry Hails Viability Gap Funding for Battery Energy Storage Projects

The recently announced Viability Gap Funding (VGF) for Battery Energy Storage Systems (BESS) has been welcomed by industry stakeholders for its potential impact on...

October 11, 2023

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Gautamee Hazarika

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Energy Storage

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Market & Policy

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Mercom Research Focus
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LG Energy to Invest $3 Billion to Expand its Battery Manufacturing Unit in US

Battery manufacturer LG Energy Solution will invest KRW4 trillion (~$3 billion) in its Michigan facility to establish new production lines for battery cells and modules...

October 6, 2023

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Arjun Joshi

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Energy Storage

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Other

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