Utility Scale Storage

Mahindra Group has agreed to sell a 30% equity stake in Mahindra Susten to the Ontario Teachers’ Pension Plan for around $300 million. The two parties have also agreed to set up an infrastructure investment trust so Mahindra Susten can strengthen its solar, hybrid energy, and integrated storage businesses, as well as its round-the-clock green energy plants.

The New Delhi-based solar and EV charger manufacturer has formed a new arm, Techbec Industries, to manufacture lithium batteries for electric vehicles (EVs) and solar energy storage applications. 

Gujarat-based Prescinto, which provides software-as-a-service (SaaS) solutions for clean energy asset management, has expanded beyond wind and solar into the rapidly accelerating energy storage market and added North America to its growing international portfolio. 

Scientists in Australia have developed a new way to produce hydrogen using water from the atmosphere. They claim their new module can ensure stable performance and provide green hydrogen for remote areas.

Renon India, an energy storage startup, has announced a new full-year revenue target, as well as plans to ramp up its annual lithium battery manufacturing capacity from 200 MWh to more than 500 MWh.

Prospective developers in Solar Energy Corp. of India’s latest tender will set up renewable energy projects to supply round-the-clock power. The projects can be located anywhere in India. Bidding closes on Oct. 10.

Canadian battery developer Zinc8 Energy Solutions has announced plans to begin battery production in the United States, incentivized by manufacturing production credits in the US Inflation Reduction Act.

H2X Global has released the first of its hydrogen-powered generators in the Australian market.

The rise of electric vehicles brings rapid technological advancement and cost reductions to lithium ion battery manufacturing, which can serve to make batteries more useful and more profitable for the energy storage industry. However, the use of stationary batteries as energy assets is still at a nascent stage. Most markets and business models are immature, and InfoLink analyst Yuan Fang-wei sees policy as the major driving force to lead and stimulate China’s energy storage market.

A new report by ICRA says rising electric-vehicle penetration will drive significant investment in battery cell manufacturing in India. It expects EV battery demand in the nation to touch 15 GWh by 2025 and 60 GWh by 2030.