Fengate Asset Management and Alpha Omega Power have closed a tax equity commitment with US Bancorp Impact Finance for a 400MWh BESS project in California, acquired from Origis Energy.

A double-header of tax equity news from the California BESS market, with IPPs Ormat Technologies and esVolta both completing deals for grid-scale projects in the state.

Following the Trump victory in the 2024 US presidential election, Energy-Storage.news has gathered analysts’ and industry comments.  

Primergy has secured US$225 million in project financing to support its “Valley of Fire” project portfolio across Nevada, Arizona and Colorado.

The US Treasury and Internal Revenue Service (IRS) have finalised the rules and process for the 45X advanced manufacturing tax credit, which effectively provides a subsidy to domestic clean energy technology manufacturing, including batteries.

Transferability and the Inflation Reduction Act (IRA) have opened up tax equity financing to the wider corporate world, but significant risks remain with so many new entrants, tax credits specialist Foss & Company told Energy-Storage.news.

This edition of news in brief from around the world in energy storage includes Enel X, NineDot Energy and Nissan.

The US industry’s prolific recent run of developers raising significant financing continues with announcements from Aypa Power and Hunt Energy Network.

IPP Enlight Renewable Energy has closed financing for the 1.2GWh BESS portion of its Atrisco solar and storage project in New Mexico, USA.

US solar PV and energy storage project developer Intersect Power has closed two financing deals worth US$837 million for three battery energy storage system (BESS) projects.