Energy Update
By matching energy consumption with clean energy produced elsewhere on the grid, power purchase agreements have allowed corporations to take action to address the current and future risks posed by climate change.
If you want to follow the money in the energy sector, the trail might lead you straight to a battery storage project, according to venture capital data so far this year.
A new funding, mergers and acquisition report by Mercom Capital counted some $11.4 billion raised in corporate funding for battery storage in 2021’s first nine months. The total capital represents 73 deals and is an all-time 9-month record for such transactions, Mercom says.
INEOS, the world's third-largest chemicals company, will invest $2.3 billion in green hydrogen projects across Europe over the next 10 years, the company announced this week.
The U.S. Coast Guard will build its first battery energy storage system (BESS) with its also first-time microgrid at a training center in California.
The Coast Guard selected Ameresco to provide energy savings performance contract (ESPC) services at Training Center Petaluma. The $43 million contract centers around the USCG’s first BESS and the U.S. Department of Homeland Security’s largest solar renewable project integrating in a microgrid.
Highland Electric Fleets announced this week what it called a “historic breakthrough for local clean energy” in which an electric school bus in Beverly, Massachusetts successfully delivered power back to the electricity grid for more than 50 hours over the course of the summer.
Corporate funding of the solar industry -- including venture capital, public market, and debt financing -- increased 190% globally through the third quarter of 2021, according to new analysis by Mercom Capital Group.
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