The investment will speed up the development of two new long-duration energy storage plants
Goldman Sachs’ private equity division Goldman Sachs Asset Management has invested $250 million (£184) in a Canadian long-duration energy storage provider.
Hydrostor, the company that has secured the funds, said the investment will help it build 8.7GWh long-duration energy storage plants in Australia and California.
The company uses Advanced Compressed Air Energy Storage (A-CAES) technology that can store huge amounts of renewable energy over long periods.
Read more: Energy Live News