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Zinc-based battery energy storage system supplier Eos Energy Enterprises has secured a US$85 million mortgage facility with Atlas Credit score Companions (ACP).

The cash shall be used for increasing Eos’ manufacturing capability, creating the subsequent technology of its energy storage programs and companies and for normal company functions, it mentioned.

The financing from ACP, a non-public credit score fund, consists of a four-year, non-amortising time period mortgage with a variable rate of interest of SOFR (Secured In a single day Financing Price) plus 8.5%. The settlement additionally permits Eos to make a one-time request for an additional US$15 million topic to lender consent.

Joe Mastrangelo, Eos CEO, mentioned: “This capital permits us to fast-track our manufacturing capability enlargement to speed up the shift to scrub energy and to ship in opposition to our $460 million orders backlog.”

It builds on a US$200 million funding commitment the company recently received from one of its finance partners, as reported by Energy-Storage.information.

The corporate’s order backlog now stands at 1.9GWh, of which an enormous chunk is a recently-expanded multi-year master supply agreement with renewable energy EPC and developer Bridgelink Commodities for the ERCOT market.

The core of the corporate’s battery energy storage system options is its Znyth (zinc hybrid cathode) model battery, which is stacked into programs providing a period of between three and 12 hours. Its Energy Block answer provides as much as 10MW of energy whereas the Energy Home begins at 10MW.

The overwhelming majority (90%) of demand for the corporate’s answer is from throughout the US. As Energy-Storage.news reported recently, it’s present process a 550MWh enlargement of the manufacturing capability of its Pittsburgh plant, of which 65MWh was accomplished in quarter one 2022.

Drew Mallozzi, managing companion of ACP, added: “The Firm (Eos) has a confirmed know-how with a powerful administration staff and is constructing a capital environment friendly and scalable manufacturing mannequin that ACP believes is poised to seize one of many largest secular progress alternatives that we’ve got recognized within the energy business.”



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AES breaks ground in Hawaii on two large-scale solar-plus-storage plants

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AES breaks ground in Hawaii on two large-scale solar-plus-storage plants


Building has begun on two large-scale {solar} initiatives paired with battery storage in Hawaii from AES Company.

AES introduced via Twitter on 4 August that floor has been damaged on Kuihelani {Solar} + Storage, a 60MW {solar} PV plant with 240MWh of containerised battery energy storage system (BESS) expertise. The challenge is on Maui, Hawaii’s second-largest island.

AES Company executives and representatives of its Hawaii-based subsidiary attended a ceremonial occasion, together with the Mayor of Maui, members of the area people and different stakeholders.

Then, yesterday German renewable energy firm Baywa r.e. stated it has been appointed as engineering, procurement and development (EPC) contractor to a different of AES’ Hawaii initiatives. Work shall be performed by Baywa r.e. Energy Options, a division of the corporate shaped by the acquisition of US {solar} and storage EPC firm Allow Energy in 2020.

Situated on Hawaii Island, the Waikoloa {Solar} + Storage plant will embrace 30MWac/43MWdc of bifacial PV modules on a single-axis monitoring system and a 30MW/120MWh BESS, within the state’s largest island’s South Kohala district.

Baywa r.e. stated that with permits secured and development having already begun, “substantial completion” of the challenge is anticipated throughout this yr. Waikoloa {Solar} + Storage will create round 200 development section jobs and inject about US$47 million financial stimulus into the native economic system.

Each energy crops have in place 25-year energy buy agreements (PPAs) signed with the state’s utility, Hawaiian Electric Co (HECO). HECO awarded AES the initiatives in 2018 earlier than signing off on the PPAs in 2019.

In accordance with AES’ web site, each have a assured industrial operation date in 2023 and can feed into the respective Hawaii Island and Maui grids.

The lithium-ion batteries will retailer energy generated at occasions of plentiful {solar} sources and low electrical energy demand, for outputting to the community at peak occasions and when {solar} technology tails off. They can even carry out ancillary providers and different purposes.

AES famous that the price of energy from each initiatives shall be US$0.08/kWh, far decrease than the price of imported fossil fuels that the state of Hawaii is basically reliant on.

HECO has lengthy recognized {solar} PV paired with batteries – in addition to some standalone battery storage – to be one of the best ways to deliver electrical energy prices down and decrease carbon emissions. Certainly, Hawaii’s final remaining coal energy plant is to retire imminently and the principle different gas supply is diesel.

The utility stated final yr that it anticipates any solar projects competing in a forthcoming tender will need to include storage, whereas at a distributed degree, HECO runs a ‘Battery Bonus’ programme which incentivises Hawaii’s many residential rooftop solar adopters to get battery storage too.

HECO introduced winners of its most up-to-date large-scale renewables tender in late 2020, which pushed by regardless of quite a few delays and challenges posed by the COVID19 pandemic. It will definitely awarded contracts for nearly 300MW of solar PV and 2,000MWh of battery storage.

Nonetheless, one of many winners of the most important tender in HECO’s historical past, which was the spherical previous to the one talked about above, cancelled its awarded challenge just a few months in the past. European utility group ENGIE had been contracted for Puako {Solar} PV + Battery Storage, a 60MW PV and 240MWh BESS challenge in a young spherical wherein 16 projects totalling 460MW of solar and nearly 3GWh of batteries were successful.

ENGIE attributed its cancellation of the project to elevated grid interconnection prices, headwinds for the {solar} trade such because the then-ongoing commerce tariff dispute for imported PV modules together with different world provide chain and manufacturing points.





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Genex buys Queensland clean energy project with 1.4GWh BESS

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Genex buys Queensland clean energy project with 1.4GWh BESS


Genex Energy has purchased up a 2GW clear energy venture which it intends to construct in 5 levels starting with a large-scale battery system, in Queensland, Australia.

The renewable energy developer and energy producer introduced this morning that it has acquired a 100% curiosity in growth rights for the Bulli Creek venture from its unique developer {Solar} Selection.

Genex’s plans for the location start with its first stage, a proposed 400MW/1,600MWh battery energy storage system (BESS). At that sizing and that capability, it will be equal to the venture bearing the title of world’s largest BESS, Moss Touchdown Energy Storage Facility in California.

It’s about 100km from town of Toowoomba in southeast Queensland and subsequent levels would add {solar} PV technology.

That may start with an preliminary 475MW to 675MW of PV, ultimately including as much as the 2GW determine given by Genex in a launch to the Australian Inventory Alternate (ASX).

{Solar} Selection started growth on Bulli Creek again in 2013, selecting the 5,000-hectare web site on account of its proximity to each grid infrastructure and electrical energy demand centres.

It’s 4km from Bulli Creek 330kV substation which feeds the Queensland-to-New South Wales interconnector in addition to being near demand from Brisbane in addition to a Regional Reference Node – one of many interconnection factors at which costs for the Nationwide Electrical energy Market (NEM) are set. Proximity to the substation specifically means low grid connection prices, which may be an costly part of any electrical energy venture.

Bulli Creek already has growth approval from the Queensland state authorities, in addition to Environmental Safety Biodiversity and Conservation Approval and clearance Aboriginal Cultural Heritage for the entire web site.

Genex expects to be making a Last Funding Resolution on the venture within the second half of the 2024 calendar 12 months. {Solar} Selection will obtain growth charges from the purchaser, and Genex is searching for joint growth companions to work with. CEO James Harding mentioned discussions with some potential companions have already begun.

It is going to be the Australian firm’s second battery storage venture thus far. Genex achieved monetary shut on the primary, Bouldecombe Battery Undertaking, a 50MW/100MWh facility also in Queensland in February this 12 months.

Development on Bouldercombe is underway, whereas on the similar time Genex is the driving drive behind the 250MW/2,000MWh Kidston 2 pumped hydro energy storage (PHES), Australia’s first new large-scale pumped hydro venture for the reason that early Eighties and in development subsequent to the corporate’s Kidston {solar} PV plant, once more in Queensland.

“The Bulli Creek Battery Undertaking is a continuation of our battery technique and will probably be one of many largest battery energy storage methods within the Nationwide Electrical energy Market,” CEO James Harding mentioned.  

“This represents an thrilling alternative for Genex to use the in depth market information and learnings gained from the event of the Kidston Pumped Storage Hydro Undertaking in addition to the Bouldercombe Battery Undertaking.”

The corporate mentioned volatility in Australian electrical energy costs mirrored in market exercise throughout the NEM present the pressing want for dispatchable energy from low emissions sources into the market, such because the Bulli Creek, Bouldercombe and Kidston 2 property.

Genex has been the latest goal of a takeover bid price AU$319 million (US$222.5 million) from Skip Important Infrastructure Fund and Stonepeak Companions, which the clear energy firm rejected. CEO James Harding nevertheless advised Reuters News Agency today that the corporate stays open to discussions with the potential consumers.



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Maldives reopens 40MWh battery storage tender for island solar

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Maldives reopens 40MWh battery storage tender for island solar


The Republic of Maldives has reopened a young course of, in search of to acquire 40MWh of battery energy storage methods (BESS) in an energy transition challenge supported by World Financial institution funding.

The South Asian island nation’s Ministry of Setting, Local weather Change and Know-how introduced the reopening this morning. Eligible bidders have been given till 1pm native time on 27 October 2022 to submit their accomplished bids however should register with the Maldives Ministry of Finance between 4 August and 20 October first.

Financing assist has been authorized from the World Financial institution by means of its Accelerating Renewable Energy Integration and Sustainable Energy (ARISE) Project for the nation and the Maldives authorities will apply a part of that funding in direction of the price of making funds to BESS suppliers below contract.

Tendering will likely be completed in two heaps. The primary will likely be for 23MW/23MWh of BESS at seven completely different areas of the nation, the second for 13.5MW/17MWh of BESS at eight areas on the Laamu Atoll islands and 4 different websites.

Bidding is open for each heaps concurrently and contributors might bid in each in the event that they select.

Contracts will cowl design, provide, set up and commissioning of BESS and energy administration methods (EMS) which is able to allow them to optimise operation of {solar} PV-plus-diesel generator energy vegetation across the islands.

Consistent with World Financial institution laws for procurements, the Maldives Ministry of Finance will conduct the tender by means of a worldwide aggressive procurement course of primarily based on Requests for Bids.

As reported by Energy-Storage.information simply over a 12 months in the past as the federal government first launched the tender, the ARISE programme is supporting the deployment of 30MW of {solar} PV throughout the islands, and the batteries will likely be key to enabling the renewable energy getting used successfully.

Some key particulars seem to have modified since the June 2021 launch of the original tender, which was issued in two numerous 24MW/24MWh and 16MW/16MWh, however once more including as much as a complete 40MWh of battery storage. Tender paperwork from 2021 additionally seem to cowl a wider scope of companies, referring to contracts for provide, set up, fee, function and switch of BESS.

Energy-Storage.information has reached out to the World Financial institution and the Maldives Ministry of Finance to ask why the tender is being reopened and what accounts for the variations between final 12 months’s issued bid paperwork and this 12 months’s.

Learn the Ministry of Finance’s Request for Bids documentation and see further details of the tender, here.



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