Mitsubishi

Publicly-owned power company Eneco has explored the possibility of an IPO since early 2017 and now appears set to pass into new ownership.

The solar home system company, which enables customers to pay their solar electricity bill through an app on their mobile on a PAYG basis, has conducted a monumental funding round as it eyes expansion to become a fully-fledged pay-as-you-go utility.

The Dendo Drive House includes a solar system, residential storage and a bi-directional charger. Mitsubishi says it reduces electric bills and fuel costs by enabling battery charging from the grid at night, when power prices are cheaper, and can also draw power from an electric vehicle.

Given its ambitious goal of achieving 175 GW of renewable power generation capacity by 2022 – and push for electric mobility – the world’s second most populous nation presents a potentially huge investment opportunity.

Sunverge Energy has revealed plans to install “dozens” of energy storage units in eastern Japan, as part of a virtual power plant (VPP) project under regional utility Tokyo Electric Power (TEPCO).

The storage system EnspireME is expected to become operational by the end of this year. Through an additional pilot project, surplus power from local wind plants will be managed and stored.

The U.S. power group and the Japanese industrial giant will jointly supply a 10 MW Advancion energy storage bank to help integrate renewables such as solar into a grid network operated by Tata Power Delhi Distribution (Tata Power-DDL) in New Delhi.