Luxembourg, June 26 -- The European Investment Bank (EIB) Group supports a new EU-level initiative to scale up energy storage as part of the clean energy transition. Announced alongside the meeting of EU energy ministers in Luxembourg, the tripartite agreement brings together public authorities, energy storage and renewables developers, and financial institutions to accelerate storage deployment, strengthen the energy system, stabilise prices and reduce reliance on fossil fuels.Energy storage plays a central role in integrating renewable energy and making electricity systems more resilient. It helps manage when energy is used - storing surplus electricity and releasing it when demand rises. This lowers costs for households and businesses wh...