ENERGY STORAGE

Energy Storage Investment Awards launches

Tamarindo, publisher of Energy Storage Report, launches Energy Storage Investment Awards 2024, a benchmark for global investment excellence

May 23, 2024

  • Tamarindo, publisher of Energy Storage Report, launches Energy Storage Investment Awards 2024
  • Launch comes at pivotal moment for sector, with storage capacity needing to increase six-fold by 2030 to limit global warming, according to IEA
  • New awards programme will be benchmark for global investment excellence and will raise profile of the sector at a time when it is facing significant headwinds
  • Awards judging panel includes representatives from Gore Street Capital, EDF, Octopus Energy, Hitachi Energy, SMBC, BW ESS and many more

Tamarindo, publisher of Energy Storage Report, is delighted to announce the launch of the Energy Storage Investment Awards.

The awards recognise and celebrate outstanding achievements in energy storage development, investment and finance. The awards programme is the benchmark for excellence, raising the profile of winners and contributing to the overall growth and reputation of the energy storage industry.

The launch of the Energy Storage Investment Awards – which builds on the long-standing success of Tamarindo’s Wind Investment Awards programme – coincides with a pivotal moment in the evolution of the energy storage industry.

Battery growth outpacing almost all other clean energy technologies

As the International Energy Agency highlighted in a recent report, growth in batteries outpaced almost all other clean energy technologies in 2023 as “falling costs, advancing innovation and supportive industrial policies helped drive up demand for a technology that will be critical to delivering the climate and energy targets outlined at the COP28 climate conference in Dubai”.

In 2023 alone, battery deployment in the power sector increased by more than 130 per cent year-on-year, adding a total of 42GW of storage capacity to electricity systems around the world. “The electricity and transport sectors are two key pillars for bringing down emissions quickly enough to meet the targets agreed at COP28 and keep open the possibility of limiting global warming to 1.5 °C,” said IEA Executive Director Fatih Birol upon the launch of the IEA’s report. “Batteries will provide the foundations in both areas, playing an invaluable role in scaling up renewables and electrifying transport while delivering secure and sustainable energy for businesses and households.”

Energy storage capacity must increase six-fold

But the work of the energy storage industry has only just begun. As the IEA highlighted, battery deployment will need to “scale up significantly between now and the end of the decade to enable the world to get on track for its energy and climate goals”. The IEA also stated: “In this scenario, overall energy storage capacity increases sixfold by 2030 worldwide, with batteries accounting for 90 per cent of the increase and pumped hydropower for most of the rest.”

This is precisely why more needs to be done to promote and celebrate the achievements of the energy storage sector. The sector’s growth must be turbo-charged in the coming years and investment in the industry needs to increase exponentially. However, the sector faces a number of headwinds, in particular increased community opposition to energy storage projects. In addition, there is still work to be done to convince some finance providers regarding the business case for energy storage.

Storage sector must pull together and showcase its contribution to energy transition

It is vital that the energy storage sector pulls together in order to have the best chance of navigating the challenges that lie ahead. Hence why The Energy Storage Investment Awards will act as showcase for the sector and, specifically, its most high-performing organisations and individuals, while also providing a valuable opportunity for industry networking and knowledge-sharing. The programme launches with 14 categories, which are:

  • Developer of the Year
  • Equality, Diversity & Inclusion Award
  • ESG Initiative Award
  • Financial Advisory of the Year
  • Investor of the Year
  • Legal Advisory of the Year
  • Lender of the Year
  • M&A Deal of the Year
  • Optimiser of the Year
  • Project Finance Deal of the Year
  • Rising Star of the Year
  • Start-up Spotlight Award
  • Technical Advisory of the Year
  • Technology Innovation Award

Members of the Energy Storage Investment Awards’ judging panel will include representatives from Gore Street Capital, EDF, Octopus Energy, Hitachi Energy, SMBC and BW ESS.

The Energy Storage Investment Awards build on Tamarindo’s highly successful Wind Investment Awards programme, which has acted as a benchmark for excellence in the wind energy sector since 2020. Previous winners in the Wind Investment Awards have included MUFG, EDP Renewables, RES, Ørsted and Allianz Capital Partners.

Tamarindo has been publishing Energy Storage Report for six years, providing in-depth analysis of the technologies, issues and trends impacting the sector. The Energy Storage Report intelligence briefing is distributed to thousands of subscribers each week.

Ben Cook, Insight Director & Editor of Energy Storage Report, Tamarindo, said: “Without the increased deployment of energy storage, any moves to bring about the worldwide energy transition will fall short. The energy storage sector has tremendous potential for growth, but it is not without its challenges – the Energy Storage Investment Awards will not only serve as a showcase for the exceptional talent that exists in the industry, but also as a forum for knowledge exchange, in addition to contributing to the much-needed strengthening of the energy storage community.”

Adam Barber, Chief Executive Officer, Tamarindo, added: “At Tamarindo, we have spent over a decade profiling and showcasing the remarkable achievements of individuals, companies, and projects that have propelled the renewable energy and clean technology sector forwards.  The launch of the Energy Storage Investment Awards 2024, underscores our deep-rooted commitment to this cause, while recognising and rewarding the efforts of those who have embraced the power of renewable energy, transformed challenges into opportunities, and brought forth positive change.”

For more information about how to enter the Energy Storage Investment Awards 2024, and for more details about the judging panel and process, click here

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