The EIB said supporting the battery supplier will help Europe realize its clean energy targets. The funds are earmarked for the company’s European R&D, as well as stemming ‘operational burdens’ from its growth rate. Sonnen recently made headlines by opening a factory in Australia to supply its virtual power plant in Adelaide.
New Zealand will connect 3,000 home battery systems to the national grid to provide demand response services. The government has also set up a US$69 million finance company to accelerate investment in distributed energy generation and electric vehicles as part of its 2050 carbon neutral goals.
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