Advanced Microgrid Solutions secures $200M funding for aggregated storage projects
- Advanced Microgrid Solutions (AMS) has signed a deal with Macquarie Capital for the capital to jointly develop and construct a $200 million fleet of the energy storage projects.
The capital will be used to design, construct and manage a distributed fleet of AMS energy storage facilities at commercial, industrial and government host sites.
The first projects will provide 300 MWh of capacity resources and demand management for utilities and certain commercial, industrial water and university customers in the West Los Angeles Basin service territory of Southern California Edison.
Advanced Microgrid Solutions is seeking to cut the costs of microgrids and storage by scaling up quickly, and that leaves little time to complete pilot projects.
Last month, AMS announced a project to install 2 MW (12 MWh) of Tesla energy batteries at various locations in the California State University system.
Earlier in the month, AMS tapped Tesla to provide battery technology for its utility-scale energy storage projects, agreeing to install up to 500 MWh of battery capacity to provide grid support in southern California.
AMS’s energy storage systems are used for utility grid services, including flexible and reserve capacity, solar integration and voltage management in addition to retail energy services such as demand management, back up generation and enhanced power quality.
The San Francisco company now has $200 million in capital from Macquarie to pursue that strategy. The capital will fund AMS projects that include a 50 MW contract from Southern California Edison to provide behind-the-meter battery storage in the Western Los Angeles Basin area, a project with real estate firm Irvine Company to deploy energy storage at 24 office buildings, and several projects with Opus One Solutions, Skyscraper One Maritime Plaza, California State University, Shell Energy North America and the Inland Empire Utilities Agency, according to Greentech Media.
“The next decade is likely to see huge changes in the mix of energy consumed across the globe, and we see energy storage rapidly emerging as a growth market in the next generation of energy infrastructure,” Rob Kupchak, head of U.S. power, utilities and renewables for Macquarie, said in a statement.
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