Equinor is investing in flexible battery capacity
Equinor buys US battery storage developer East Point Energy
Norwegian energy company to use flexible storage to boost returns from its renewables portfolio
Norwegian state-owned energy company Equinor has entered the US battery storage sector with an agreement to purchase Virginia-based developer East Point Energy. The privately owned developer has a project pipeline of 4.1GW, focused on the US east coast, and has identified further potential growth. The deal with Equinor, the financials of which have not been made public, is expected to close in the third quarter of this year. Equinor sees investment in flexible battery storage as a way to boost the returns of and to lower the risks in its renewables portfolio by providing balancing services to grids and by trading power through its Danske Commodities trading arm. Equinor is one of the largest
Also in this section
24 January 2025
Progress on the energy transition has slowed or even stopped, with greater societal engagement we can revitalise it
23 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
14 January 2025
Bioenergy will be a key part of the energy transition as the world decarbonises, and Brazil is set to be a major player in the sector
