California is testing Canadian startup e-Zinc’s long-duration technology to keep businesses powered through wildfires and outages. California is looking for ways to keep power flowing to customers amid wildfires without burning fossil fuels. A Canadian storage technology startup thinks it has the solution. This summer, Toronto-based e-Zinc won a $1.3 million grant from the California […]
WoodMac: Distributed Storage Outlook Shrinks for 2020 Due to Coronavirus
Industry concerns have shifted from supply chain risk to executing projects and bringing in new business. Residential and commercial energy storage installations are taking a hit as the U.S. tackles the coronavirus pandemic. The behind-the-meter storage segment will install 31 percent less capacity in 2020 than previously forecast, according to a new analysis by research […]
Goldman Sachs Partners With Greenskies Alums to Launch Distributed Solar Venture
Goldman will put up to $275 million behind distributed solar projects, returning for more action in the C&I market. Goldman Sachs announced plans to invest up to $275 million into a new, as-yet-unnamed U.S. development joint venture that will focus on distributed solar projects for commercial, industrial and municipal customers. The new JV will be […]
Modular Microgrid Startup Raises $300 Million
Private equity firm Warburg Pincus saw an opportunity to tap the commercial resilience market with its investment in Scale Microgrid Solutions. Startup Scale Microgrid Solutions won a $300 million commitment from investment firm Warburg Pincus this week, an unusually robust vote of confidence in the tricky microgrid market. SMS sells modular microgrid products to commercial […]
Infrastructure Fund JLC Buys Up Solar Developer Greenskies
Analysts call the move “a further evolution of the trend of commercial solar into more patient capital.” Another community and commercial solar developer goes to an infrastructure fund, with the Monday announcement that U.S.-based JLC Infrastructure has purchased Connecticut’s Greenskies Renewable Energy. The benefits afforded by the JLC acquisition are threefold, according to Greenskies vice […]
Enel Builds New York City’s Biggest Battery, With a Twist
The city is a tough nut for storage developers, but Enel proved it has the cracker. Enel X has completed the largest battery storage project in New York City, using an unusual business model to break through in a tough market. New York City consumes a tremendous amount of electricity in a congested part of […]
TerraForm Power to Invest $720M in Distributed Solar Portfolio
The former SunEdison yieldco hopes to leverage the diverse 300-megawatt portfolio to sell additional services to commercial and industrial clients. TerraForm Power announced Monday it will take over ownership of a portfolio consisting of 291 megawatts of commercial and industrial solar projects and 21 megawatts of residential solar. The portfolio, sold by Canada-based energy infrastructure […]
Massachusetts policy leads Stem towards 28.2MWh of solar co-located energy storage
Policy in the Commonwealth of Massachusetts favouring the use of clean energy during peak times has brought behind-the-meter energy storage company Stem Inc into the state’s utility-scale solar-plus-storage market. The commercial and industrial (C&I) system provider has partnered with private equity firm Syncarpha Capital Partnership to develop 28.2MWh of large-scale energy storage projects, co-located with […]
Stem Lays Off Workers Amid Strategic Shift Towards Software
Venture-backed energy storage company thinned its ranks this spring, including its regulatory team, GTM has learned. Leading U.S. commercial energy storage startup Stem laid off employees at the end of April, sources familiar with the situation told GTM. The layoffs came as a surprise to employees on the morning of April 29. Roughly 15 people […]
Summit Ridge Energy Secures Project Finance Fund for 100MW of Community Solar
One more financier is jumping into the budding community solar market. Low-carbon investment firm Hannon Armstrong has partnered with developer Summit Ridge Energy to finance community solar projects, the companies announced this week. The companies structured the deal as a joint venture called Summit Ridge Capital, which will invest cash equity in community projects that […]