European battery company Northvolt has filed for Chapter 11 ‘reorganisation’ bankruptcy in the US, which it said will allow it to restructure its debt to continue scaling the business.
While everyone agrees the capacity market (CM) is the foundation of the business case for BESS in Poland, that might not always be the case, one developer suggested.
The European Commission has approved a €1.2 billion (US$1.32 billion) state aid package for Poland to support the deployment of electricity storage facilities.
Econergy will soon start construction on a 50MW BESS project in Poland, the first of that scale to reach this stage in the market, the Israel-based IPP claimed.
The EU’s security requirements for energy assets including energy storage are increasing as the risks grow, particularly in Central and Eastern Europe (CEE).
The decision to slash energy storage de-rating factors for the next capacity market auction in Poland will not be the death knell of the market, and may actually have some positives, project developers and IPPs said.
Flexibility will be a critical piece of the grid of the future and energy storage will play a central role in that, keynote speakers said at Solar Media’s Energy Storage Summit Central and Eastern Europe (CEE) 2024 today.
Sweden-headquartered lithium-ion technology Northvolt has concluded its strategic review, revealing it is divesting or ceasing non-core activities, sharpening its focus to battery cell manufacturing and reducing its workforce.
