Powin Energy Sells 110 MWh of Projects to esVolta, Inks Procurement Arrangement
Powin Energy Corporation, a manufacturer of integrated energy storage products, has sold over 110MWh of its project assets and contracted project pipeline to esVolta for an undisclosed amount.
The sale comes after esVolta received a large financial commitment from Blue Sky Alternative Investments to accelerate its growth in the North American utility-scale energy storage market. Under the deal, Powin Energy is also set to be esVolta’s sole provider of energy storage systems through 2022.
“Powin Energy’s business plan has long had the vision of transitioning the company out of the project development business and into being a fully dedicated energy storage systems and services provider,” said Geoffrey Brown, President of Powin Energy.
“This transaction is the realization of that plan and will enable the company to focus all of its efforts on delivering the best energy storage systems in the industry to our developer and utility customers. esVolta and Blue Sky’s commitment to developing energy storage projects with Powin Energy’s products is strong validation of our technology and the top-tier team we’ve assembled," Brown added.
The primary projects included in the transaction are:
- PPA Grand Johanna: A 2 MW/9 MWh system in Irvine, California, that has been operational since the beginning of 2017 in response to the Aliso Canyon gas leak and is contracted with Southern California Edison (SCE).
- Don Lee BESS: A 6.5 MW/26 MWh battery energy storage system project that will be located in a historic orange processing facility in Escondido, California. The development-stage project is under contract with San Diego Gas & Electric (SDG&E).
- Powin Energy Ontario Storage: The sale includes a 50% stake in this 8.8 MW/40.8 MWh system in Stratford, Ontario, that is under contract with Ontario IESO. The system will be the largest battery storage facility in Canada when it goes online before year-end 2017.
- A 10 MW/40 MWh project: Details about this project have not yet been publicly announced.
Powin Energy creates and deploys scalable battery energy storage for utility-scale, commercial and industrial (C&I), and microgrid applications. It is known for selling modular, purpose-built DC strings that range in size from 106 kWh to 175 kWh and can be scaled for kilowatt to megawatt applications. These products, known as Stack, are engineered to maximize energy density and minimize system footprint and are available in indoor and outdoor models.
The products are operated by Powin’s bp-OS software. Powin is experienced in supply chains, modular design, and software proficiency streamline installations. The 30-year old company is based in Oregon.