SunEdison and Advanced Microgrid Solutions Join Forces to Finance and Deploy 50 Megawatts of Energy Storage for Southern California Edison
The storage system contracts were awarded to AMS as part of SCE's 2013 Local Capacity Requirement solicitation, and will be built on commercial and industrial customer sites throughout the
SCE will purchase capacity from the storage systems under a 10-year capacity contract, and expects to use the electricity stored in these fleets of hybrid-electric buildings in part to offset the power once produced by the decommissioned San Onofre nuclear power plant and other soon-to-be retired gas-fired plants. This program is part of SCE's plan to modernize the grid by adding 2.2 gigawatts of newer, cleaner resources including energy storage and renewables by 2022.
Battery storage offers several benefits over traditional power sources: it is cleaner, responds faster, can be located directly at load centers and is increasingly less expensive than other options for tackling peak electricity demand.
"We're enthusiastic about working with
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The AMS-SunEdison partnership combines Advanced Microgrid's innovative designs and technology partnerships with
"We are excited to be expanding our clean energy portfolio with a new asset type that provides both attractive returns and strong growth prospects," said
About Advanced Microgrid Solutions
Advanced Microgrid Solutions (AMS) is pioneering the use of energy storage systems for electric utility grid support. Using a technology-agnostic approach, the company designs, finances, installs and manages advanced energy storage solutions for commercial, industrial and government building owners. To learn more visit http://www.advmicrogrid.com/
About
About
Forward Looking Statements
Certain matters discussed in this press release are forward-looking statements, including: 200 Megawatt hours of battery storage capacity to be built out over 2016 and 2017; SCE will purchase capacity from the storage systems under a 10-year capacity contract, and expects to use the electricity stored in these fleets of hybrid-electric buildings in part to offset the power once produced by the decommissioned San Onofre nuclear power plant and other soon-to-be retired gas-fired plants; and this program is part of SCE's plan to modernize the grid by adding 2.2 gigawatts of newer, cleaner resources including energy storage and renewables by 2022. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in
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SOURCE
Press: Tory Patterson, Grayling for SunEdison, SunEdison@grayling.com, +1 (619) 269-9518; Manal Yamout, Advanced Microgrid Solutions, manaly@advmicrogrid.com, +1 (415) 638-6146; Investors/Analysts: R. Phelps Morris, SunEdison, pmorris@SunEdison.com, +1 (314) 770-7325, Brett Prior, TerraForm Power, bprior@terraform.com, +1 (650) 889-8628