Advanced Microgrid Solutions (AMS) has signed an agreement with Macquarie Capital, the investment arm of Macquarie Group, to provide funding for the construction of energy storage projects valued at about $200 million.
Under the agreement, Macquarie will provide capital that will be used to design, construct and manage a fleet of AMS energy storage facilities located at commercial, industrial and government-hosted sites. The energy storage systems can be used for utility grid services such as reserve capacity, solar integration and voltage management as well as for retail energy services such as demand management, backup generation and enhanced power quality.
The first project will be located in the West Los Angeles Basin area under the territory of Southern California Edison (SCE). The project will provide a 300-megawatt house of capacity resources and demand management for utilities and other commercial, industrial water and university customers. Southern California Edison will purchase the behind-the-meter, battery-based energy storage systems under a 10-year capacity contract as part of SCE’s plan to modernize the grid by 2022.
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