Latest news with #batteryenergy
BBC News
6 days ago
- Business
- BBC News
Plans for woodland battery energy farm in Overseal approved
A battery energy farm is set to be built in Derbyshire after a planning application was Derbyshire District Council backed a bid for a site on Park Road in Overseal at a meeting on scheme, from Care Power (Overseal) Ltd, will involve chopping down 2.5 acres of National Forest woodland next to a recently-developed holiday lodge site, with more than 50 battery shipping containers taking their Local Democracy Reporting Service (LDRS) said some residents called the decision "an utter disgrace". The facility will be able to store 50MW of electricity and provide power for 17,236 homes each will be connected by 7.5km of cabling to the former Drakelow power station the LDRS said. 'Significant benefits' Anne Hughes, chairman of Overseal Parish Council, had told the meeting that developing the site "would be a significant loss of amenity for residents"."We recognise the need for battery storage facilities, but they should be sited in industrial locations, which are available in South Derbyshire, not in the heart of the National Forest," she said."The elderly there [in a nearby retirement home] are fearful that their peaceful haven will be shattered by the noise, traffic and pollution."Jake Stentiford, agent for the applicant, said the scheme carried "significant benefits", including the avoidance of 9,600 tonnes of carbon emissions."It is an excellent opportunity for the country to deliver energy and national security and protect them from external shocks, with long-term improvements for the area," he to the LDRS, councillors had been deadlocked at six votes for and six votes against the scheme, with one, Labour's Ian Hudson, Gareth Jones used his casting vote to approve the said any bid to block the development could see "costs awarded against us time and time again"."Refusing this would be nothing other than a temporary reprieve," he added. "It is very clear that if we refuse this it will go to appeal and we would lose and probably have costs awarded."It would be a futile gesture."
Yahoo
09-07-2025
- Business
- Yahoo
Lydian Energy Secures $233M in Project Financing to Advance Battery Storage Projects Across Texas
ING and KeyBank provide Lydian's first institutional financing for Pintail, Crane, and Headcamp BESS projects under Excelsior Energy Capital's Fund II WASHINGTON & HOUSTON, July 09, 2025--(BUSINESS WIRE)--Lydian Energy, an independent power producer specializing in the development, construction, and operation of utility-scale solar and battery energy storage projects across North America, today announced the successful financial close of its first institutional project financing totaling $233 million. The financing, backed by ING and KeyBank, supports three battery energy storage system (BESS) projects in Texas' fast-growing ERCOT power market. ING served as the lender for the Pintail and Crane projects, located in San Patricio and Crane Counties, Texas, respectively. The two systems, each sized at 200 MW/400 MWh, represent a combined investment of approximately $139 million. KeyBank provided a $94 million financing package for Headcamp, a 150 MW/300 MWh project in Pecos County. KeyBanc Capital Markets also structured the financing package for Headcamp. All three projects are developed under Excelsior Energy Capital's Fund II, which recently closed at more than $1 billion, and advance Lydian's strategy to deliver reliable, affordable renewable energy that strengthens grid performance in key power markets, such as Texas. The facilities are currently under construction and expected to be placed in service in Q4 2025. "This financing marks an important step forward as we continue executing on our vision to scale transformative battery storage projects that meet the evolving energy needs of the communities we serve," said Emre Ersenkal, CEO at Lydian Energy. "We are happy to have the support of ING and KeyBank, which recognize both the value of battery storage in today's grid and the capabilities of our development and delivery platform. We are proud to partner with these leading financial institutions to help deliver the next generation of clean and reliable power in Texas," said Basilio Guerrero, CFO at Lydian Energy. The commitments of ING and KeyBank underscore growing institutional confidence in battery storage as a strategic asset class leading the energy transition. "Our support of Lydian's portfolio reflects ING's focus on identifying strategic funding opportunities that align with the accelerating demand for sustainable power," said Sven Wellock, Managing Director and Head of Energy – Renewables & Power at ING. "Battery storage plays a central role in supporting grid resilience, and we're pleased to back a platform with strong fundamentals and a clear execution path." "Lydian Energy's development of Headcamp reflects the type of forward-looking energy infrastructure we aim to support through strategic financing," said Tyler Nielsen, Managing Director, Utilities Power and Renewables Group at KeyBanc Capital Markets. "Our team is thrilled to support Excelsior Energy Capital as they continue to deliver strategic, future-ready investments and projects that are increasingly vital as energy demand and system complexity continue to rise." The tax credit bridge financings from ING and KeyBank are being complemented by co-investment capital from Excelsior's Fund II limited partners. Lydian is actively pursuing additional financing for a broader pipeline of projects expected to start construction later this year. "These financings represent more than capital – they reflect the strong demand for reliable energy infrastructure in high-growth U.S. markets," said Anne Marie Denman, Co-Founding Partner at Excelsior Energy Capital and Chair of the Board at Lydian Energy. "We're proud to stand behind Lydian's talented team as they deliver on the promise of battery storage with bankable projects, proven partners, and disciplined execution. In the midst of a lot of noise, these financings are a reminder that capital flows where infrastructure is satisfying fundamental needs of our society – in this case, the need for reliable, sustainable, domestic, and affordable energy." Lydian's current portfolio includes 20 solar and storage projects totaling 4.7 GW of capacity. The company continues to work alongside banking, regulatory, and community stakeholders to deliver scalable infrastructure aligned with regional needs and policy objectives. About Lydian Energy Lydian Energy, based in Washington, D.C., is an independent power producer specializing in the development, construction, and operation of utility-scale solar and battery energy storage projects. With the backing of Excelsior Energy Capital, Lydian's experienced team of renewable energy professionals focuses on developing high-potential mid- to late-stage renewable energy assets across North America. For more information, please visit Follow Lydian Energy on LinkedIn. About Excelsior Energy Capital Excelsior Energy Capital is a renewable energy infrastructure fund focused on middle-market investments in wind, solar and battery storage plants, and businesses across North America. The highly specialized team brings over 100 years of combined experience and a comprehensive set of strategic, financial, legal and operational expertise; making Excelsior Energy Capital a valuable partner for developers and operators, and a trusted manager for investors. Based in Minneapolis, Minnesota, the firm was founded in 2017 with two active funds totaling over $1.5 billion of equity capital. For more information, visit View source version on Contacts Media Contact Adam Redlingaredling@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-06-2025
- Business
- Yahoo
Bimergen Energy Enhances Shareholder Value by Canceling 25.1% of Its Outstanding Common Stock
Newport Beach, CA, June 30, 2025 (GLOBE NEWSWIRE) -- Bimergen Energy Corporation [OTCQB: BESS], ('the Company' or 'Bimergen'), a developer of utility-scale battery energy storage projects and an independent power provider, today announced the proceeding of a corporate action to cancel 1,287,694 shares upon a shareholder litigation completion. This action follows the favorable ruling from the Superior Court of California from a litigation which began in 2023, aimed at increasing shareholder value. These shares represent approximately 25.1% of the Company's total outstanding shares prior to cancellation as of today's date.'We're very happy with this result and continue to focus our efforts towards Battery Energy Storage Systems (BESS) and believe that the cancellation of these shares will greatly benefit all of our shareholders moving forward. We are also grateful for their patient support and continued trust in our corporate actions,' stated Benjamin Tran, Bimergen Chairman and CEO. Bimergen's recent corporate focus has been on bringing projects into operation in the near term, in line with our projected timeline. This comes at a time when the energy storage investment climate is especially favorable, and BESS plays a critical role in addressing the significant demand driven by the U.S. national energy emergency. Shareholders can expect further updates in our upcoming filings and press releases. About Bimergen Energy Corporation Bimergen Energy Corporation [OTCQB: BESS] is a utility-scale Battery Energy Storage System (BESS) asset owner, project developer, and independent power provider focused on delivering critical power grid stability and reducing energy price volatility. The Company owns 23 development stage BESS projects with a cumulative energy capacity of approximately 2 GW. The company secures project financing and oversees construction of their energy storage projects, partnering with institutional counterparties to manage daily energy trading operations under long-term offtake agreements ensuring stable, contract-backed revenue. The company also owns 13 development stage solar energy projects with an anticipated cumulative generation capacity of 1.640 GW. For more information, please visit Cautionary Note Regarding Forward-Looking Statements This press release may include, and oral statements made from time to time by representatives of the Company may include, 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'might,' 'plan,' 'possible,' 'potential,' 'predict,' 'project,' 'should,' 'would' and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filing with the Securities and Exchange Commission ('SEC'). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's filings with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Company ContactBimergen Energy CorporationTel: 1.855.777.0888Email: info@ in to access your portfolio
Zawya
17-06-2025
- Business
- Zawya
IFC, AMEA Power launch Egypt's first battery energy storage system
Arab Finance: The International Finance Corporation (IFC) has announced a $72 million investment to support Egypt's first utility-scale battery energy storage system (BESS), in partnership with AMEA Power and the Egyptian government, marking a major milestone in the country's transition to clean energy, as per an emailed press release. The financing package will support the integration of a 300 megawatt-hour BESS into the newly commissioned 500MW alternating-current solar photovoltaic plant operated by AMEA Power's subsidiary, Abydos Solar Project Company, in Kom Ombo, Aswan. The solar plant, also financed by IFC and international partners, began operations in November 2024. This is the first project of its kind under Egypt's fast-track 4GW Emergency Renewable Energy Program, designed to meet rising electricity demand through clean, competitive energy sources and reduce reliance on imported natural gas. The BESS is currently in the commissioning phase and is expected to be operational by July 2025. Once online, it will deliver approximately 100,000 MWh annually and is projected to reduce around 20,000 tons of carbon dioxide emissions each year, supporting Egypt's goal to cut emissions from the power sector by 37%. The project aligns with Egypt's Nexus of Water, Food, and Energy (NWFE) platform and the World Bank Group's Country Partnership Framework for Egypt (FY23–27), which prioritizes job creation, human capital development, and resilience to environmental and economic shocks. Since 2017, the World Bank Group and development finance institutions (DFIs) have played a key role in supporting Egypt's renewable energy sector, contributing to the development of 2.1GW of solar and 2.8GW of wind capacity, more than half of the country's projected installed renewable energy by 2027. IFC has backed several landmark renewable energy projects in Egypt, including the 1.4GW feed-in tariff program in Benban, the 252MW West Bakr Wind project, and the twin 500MW Abydos Solar and 500MW Amunet Wind projects. Since launching its operations in Egypt in 1975, IFC has invested and mobilized nearly $10 billion in development projects and maintains an advisory portfolio valued at $25 million. Its private sector engagement in Egypt spans fintech, climate finance, infrastructure, renewable energy, healthcare, gender, and manufacturing. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
16-06-2025
- Business
- Zawya
IFC, AMEA Power launch Egypt's first utility-scale battery storage system
Egypt - The International Finance Corporation (IFC) announced on Sunday a landmark investment to support the development of Egypt's first utility-scale battery energy storage system (BESS), in partnership with AMEA Power and the Government of Egypt. The project aims to enhance grid resilience and support the country's transition to clean energy. The IFC is providing a $72m debt package to Abydos Solar Project Company, a subsidiary of AMEA Power, to finance the integration of a 300 MWh BESS with the recently operational 500 MWac Kom Ombo solar photovoltaic plant in Aswan Governorate. The solar plant, which began operations in November 2024, was also financed by IFC and international partners in 2022. The battery system, currently in the commissioning phase, is expected to be fully operational by July 2025. Once online, it will deliver approximately 100,000 MWh of energy annually and reduce CO₂ emissions by nearly 20,000 tons each year. This milestone marks the first BESS to be developed under Egypt's 4 GW Emergency Renewable Energy Program—an initiative designed to meet increasing electricity demand through clean, cost-effective sources while reducing reliance on imported natural gas. 'At AMEA Power, we are committed to transforming the energy landscape through innovation, speed, and local collaboration,' said Hussain Al Nowais, Chairman of AMEA Power. 'Achieving financial close for Egypt's first utility-scale BESS—following the successful launch of our 500 MW wind farm in the country—is a clear demonstration of our ability to deliver large-scale renewable energy projects. We're proud to support Egypt's energy transition and grid reliability.' Makhtar Diop, Managing Director of IFC, emphasized the significance of the partnership: 'Meeting Egypt's rising energy demand—especially during peak summer months—requires bold, forward-looking solutions. This project delivers sustainable infrastructure today while laying the foundation for a more resilient, cleaner energy future. It showcases how strategic partnerships and advanced technologies can accelerate energy transitions.' The BESS project aligns with Egypt's climate platform, the Nexus of Water, Food, and Energy (NWFE), and the World Bank Group's Country Partnership Framework for Egypt (FY23–27), which emphasizes job creation, human capital development, and resilience to environmental and economic shocks. Since 2017, the World Bank Group and other development finance institutions (DFIs) have supported Egypt's private sector in developing 2.1 GW of solar and 2.8 GW of wind capacity. These efforts are expected to account for over half of Egypt's installed renewable energy capacity by 2027. IFC has played a key role in landmark initiatives such as the 1.4 GW feed-in-tariff (FiT) program at the Benban Solar Park, the 252 MW West Bakr Wind project, and AMEA Power's twin 500 MW Abydos Solar and Amunet Wind projects. Since launching its operations in Egypt in 1975, IFC has invested and mobilized nearly $10bn in development projects and maintains an advisory portfolio valued at $25m. Its work in Egypt spans climate finance, fintech, infrastructure, healthcare, manufacturing, gender equity, and renewable energy. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
