{"id":81378,"date":"2023-12-20T00:00:00","date_gmt":"2023-12-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/12\/20\/a-first-of-its-kind-consortium-forms-to-secure-5-gw-of-bess-commitments-by-4q-2024\/"},"modified":"2023-12-20T00:00:00","modified_gmt":"2023-12-20T00:00:00","slug":"a-first-of-its-kind-consortium-forms-to-secure-5-gw-of-bess-commitments-by-4q-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/12\/20\/a-first-of-its-kind-consortium-forms-to-secure-5-gw-of-bess-commitments-by-4q-2024\/","title":{"rendered":"A first-of-its-kind consortium forms to secure 5 GW of BESS commitments by 4Q 2024"},"content":{"rendered":"

10+ c<\/strong>ountries <\/strong>join 5 GW BESS consortium:<\/strong> Over 10 countries have joined a first-of-its-kind consortium to secure 5 GW of battery energy storage system (BESS) commitments by the end of 2024 as first-mover countries, according to a statement<\/a> from our friends at Infinity Power. The joining countries include Egypt, Ghana, India, Kenya, Malawi, Mauritania, Mozambique, Nigeria, and Barbados.<\/p>\n

What we know:<\/strong> The move comes as part of the Global Energy Alliance's<\/a> efforts to reduce the cost of renewable energy in low and middle-income countries, and reach 400 GW of renewables by 2030 to alleviate energy poverty. The consortium is also deploying USD 1 bn in concessional finance and will expedite project deployment, establish a favorable market for BESS, and unlock commercial and public financing. <\/p>\n

The partners:<\/strong> The consortium has major resource regional and international partners including Infinity Power, Masdar, Amea Power, the COP28 Presidency, the African Development Bank, the World Bank, Inter-American Development Bank, Asian Development Bank, Agence Fran\u00e7aise de D\u00e9veloppement, Rocky Mountain Institute, GIZ, Africa 50, Net Zero World, and Sustainable Energy for All. <\/p>\n

All on board the BESS train:<\/strong> Infinity Power signed an agreement<\/a> last month with Senegalese national utility Senelec for a 40 MW BESS system. Schneider Electric also signed an MoU<\/a> last week with the UAE's energy storage system manufacturer Volts to establish a BESS industrial facility in Abu Dhabi. <\/p>\n","protected":false},"excerpt":{"rendered":"

Regional renewables players Infinity Power, Masdar, and Amea Power are part of the consortium aimed at accelerating battery deployment in green projects<\/p>\n","protected":false},"author":1,"featured_media":81379,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[237],"tags":[236,166,40,11,360],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-battery-storage","tag-battery-storage","tag-bess","tag-egypt","tag-enterpriseclimate","tag-infinity","wpautop","entry"],"acf":{"mongo_id":"a267c885-eb18-4c3d-ae6f-842fa218906a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/952.jpg","photo_position":"above","homepage_title":"","full_issue_title":"A first-of-its-kind consortium forms to secure 5 GW of BESS commitments by 4Q 2024","related_issue":[81373],"teaser":"Regional renewables players Infinity Power, Masdar, and Amea Power are part of the consortium aimed at accelerating battery deployment in green projects","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.27127144-be1d-462a-9e00-559a048a712a.mp3"},"yoast_head":"\nA first-of-its-kind consortium forms to secure 5 GW of BESS commitments by 4Q 2024 - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/20\/a-first-of-its-kind-consortium-forms-to-secure-5-gw-of-bess-commitments-by-4q-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A first-of-its-kind consortium forms to secure 5 GW of 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