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SunEdison acquires energy storage project from Solar Grid Storage

Staff writer |
SunEdison has acquired the energy storage project origination team, project pipeline, and subject to customary consents and assignments, four operating storage projects from Solar Grid Storage.

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SunEdison now offers battery storage solutions to complement solar and wind projects worldwide, providing solutions that can benefit utilities, municipalities, businesses, and consumers alike.

The growth in the energy storage market is being driven by commercial and municipal customers who are interested in both immediate energy savings from solar and emergency back-up power from storage, and by electricity grid operators, who place a high value on storage for its ability to make the grid more resilient and less susceptible to failure. Renewable generation-plus-storage has proven to be a cost-effective way of integrating renewable energy such as solar and wind into the grid.

The move into energy storage follows SunEdison's successful acquisition of First Wind. With 5 gigawatts of solar and wind assets under management around the globe, the company expects to realize significant synergies and opportunities for growth by integrating energy storage into its global finance, project development, and asset ownership platform.

Solar Grid Storage will integrate its solar-plus-storage control services with the SunEdison Renewable Operation Center, enabling global 24/7 asset management, monitoring and reporting services for energy storage assets.


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