Scott Maloni, vice president of Poseidon Water (left) and Brian Probolsky, CEO of Orange County Power Authority, sign the MoU.

The Orange County Power Authority (OCPA) and Poseidon Water entered into a memorandum of understanding (MOU) to work together toward making the Huntington Beach Seawater Desalination Facility the first desalination plant in the western hemisphere to be powered entirely by renewable energy.

Poseidon’s proposed desalination project in Huntington Beach requires an average steady load of approximately 25 MW, which would make it one of the larger energy users in Orange County. The City of Huntington Beach, an OCPA member, recently voted to offer businesses and residents 100% renewable energy through OCPA. While the project is already guaranteed to have zero-carbon footprint through the state’s carbon offset program, being powered completely by renewable energy would further enhance the facility’s environmental sustainability.

“We’re proud to enter into this MOU with Poseidon Water today and are pleased to see they are dedicated to ensuring the water produced by this state-of-the-art desalination plant will be powered by solar, wind and other renewable sources,” says OCPA Chairman Mike Carroll.

“My fellow Huntington Beach City Council Members and I recently selected 100% renewable energy, through OCPA, as our default plan for customers – taking bold steps to address climate change,” states OCPA’s Board Member and Huntington Beach Mayor Pro Tem Mike Posey. “With this project located in Huntington Beach, I am happy to see that Poseidon Water has also committed to work toward making their project even more sustainable by working with OCPA in an effort to power the desalination plant entirely with renewable energy.”

In addition to this MOU, the project has enhanced its environmental protection by retrofitting its intake pipes to use wedge-wire screens to minimize marine life impacts. Also, Poseidon Water has committed to protecting and preserving the Bolsa Chica wetlands for the next generation.

“We set a precedent in 2010 by making our proposed Huntington Beach desalination project 100% carbon neutral through our voluntary Energy Minimization & Greenhouse Gas Reduction Plan,” comments Scott Maloni, Poseidon Water’s vice president. “However, it has always been our goal to have the project powered entirely by renewable energy if it were feasible to do so and with this MOU in partnership with the OCPA, we’ve shown our commitment to making that a reality.”

The MOU guarantees that OCPA and Poseidon Water will meet at least monthly to work toward a binding agreement to ensure the project can be powered entirely by renewable energy sources.

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Cross River Bank and Sunstone Credit Inc. are partnering to add a new asset class to Cross River’s lending portfolio. Cross River Digital Ventures has also made a strategic investment in Sunstone.

Sunstone has built a technology platform that provides solar developers with affordable, easy-to-understand financing products for their SMB customers looking to go solar. Through the partnership, Cross River will originate Sunstone loans and provide API connectivity to Sunstone’s platform, providing a streamlined, highly scalable solution that delivers an optimal customer experience for both borrowers and developers and supports Sunstone’s growth.

“We are excited to partner with Sunstone to enter a market where there is an opportunity to leverage our technology-based lending platform to provide energy efficient products to commercial borrowers,” says Adam Goller, EVP and head of fintech banking at Cross River. “Their experience, track record of success and product knowledge, combined with our technology and innovative approach to banking will address this high-potential market at the scale that the market has come to expect from Cross River.”

“We are thrilled to partner with Cross River as we embark on this next stage of growth for our company and the SMB solar market,” states Mike D’Andrade, co-founder and chief risk officer of Sunstone. “We have always been impressed with Cross River’s forward lean on matters of technology and sustainability, and it has been clear from the beginning that they understand and are just as motivated by our mission to democratize access to solar for businesses, which this partnership will enable us to do. In addition, we are excited that they have chosen to deepen their commitment to our company through the strategic investment made by Cross River Digital Ventures.”

Image: Photo by Jadon Kelly on Unsplash

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Silfab Solar Inc. has appointed Rob Jessen as CFO to replace Hanna Ayyad, who has been Silfab’s CFO since August 2014.

Jessen brings experience having been at Ernst & Young for 25 years becoming a senior partner and leader of EY’s Global Energy Sector. He previously served as a CFO and member of various boards of directors; more recently, he has contributed his extensive knowledge in a consulting capacity, working closely with the Silfab executive team on financial strategy and organizational structure. With his more than 30 years of consulting and executive management experience, Jessen’s focus will continue to be on strengthening the financial and accounting department for future growth and investment opportunities.

“Hanna has been an integral part of the Silfab story and growth over the last decade, having joined the company as one of its very first employees,” says Paolo Maccario, CEO of Silfab. “We want to thank Hanna for his dedication and contributions to Silfab’s success and wish him all the best on his next venture.”

Ayyad will continue to support and assist the Silfab executive team over the next few months to ensure a smooth and successful transition.

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Experts from the industry discuss the investment landscape for energy storage. Image: Solar Media Events via Twitter.

Although huge amounts of capital are being deployed into storage, some investors speaking at the Energy Storage Summit 2022 made it clear that the investment model is still set to evolve hugely. 

Jan Libicek, Investment Director at Bluefield Partners and Thomas McNicholas, Director at Greencoat Capital, both said they expected higher returns from storage than for other renewables, at a panel discussion on the second day of the sold-out event, hosted in London by our publisher Solar Media. 

Conrad Purcell, Partner at Haynes Boone said that the investment landscape for storage has become highly diversified and that he is seeing some really novel investment structures. 

“People are also looking for much higher levels of control over their investments, even with those developers who have long track records,” he added. “The market fundamentals are very different from renewable projects historically and there is also a much greater range of opportunities for sourcing capital, with so many pots of money available.” 

Karl Byrne, Vice President, BlackRock, similarly said: “There is no one size fits all approach to financing. We might build three robust models for a project and come up with different return forecasts. We consider things like: how wrapped is the engineering, procurement, and construction (EPC)? What is the construction risk?” 

Echoing what Purcell said about control, Byrne added: “We look at battery storage on an equity-only basis. We’d need more contracted revenues to bring in debt.” 

Gauri Kasbekar-Shah, MD, Head of Energy, Edmond de Rothschild, expanded on the additional value that large investment firms can bring: “We see ourselves as providing the flexibility in financial structure to allow the developer to capture all possible revenues with the storage asset. We are coming from a much better understanding of the asset class.” 

Battery storage at the frontier of investability

Jan Libicek, Investment Director, Bluefield Partners LLP, echoed what was said in other panel sessions at the Summit about the move from colocation to standalone storage assets: ”Two years ago it was a clear win for colocation but the focus is clearly now shifting to standalone storage, although colocation means you can save on the capex side.” 

In response to an audience question about aggregating multiple storage assets into one asset, he said it would be ‘fiddly’ for the investor but recent examples of this in solar meant it was feasible and, if done right, could actually be more attractive than a single asset of the same capacity. 

Another audience question related to earlier-stage storage technologies, to which Libicek said: “We’re looking at a few hydrogen projects in Europe but that’s a year or a few years away from being investable. Battery storage is for now the limit to where we’ll go.” 

Whie Purcell added: “What we find is that, where there is no track record which you can point to, there is an alternative approach. It works in other areas and involves having a large technology provider which can acquire or develop a new technology and can warrant that product to the buyer. That is bankable.”

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US Secretary of Energy Jennifer Granholm visiting Eos’ R&D facilities in New Jersey last year. Image: Eos via Twitter.

Eos Energy Enterprises has said that equipment and machinery will begin arriving next month as the zinc-based battery storage company expands its manufacturing facility near Pittsburgh, Pennsylvania, US. 

Eos had previously said it would triple the current production capacity of its plant in Turtle Creek, bringing it up to 800MWh of its Znyth brand aqueous zinc batteries. Znyth units offer up to three hours storage duration each but can be ‘stacked’ to create storage systems with up to 12 hours storage and discharge duration at full power. 

The manufacturer will add an extra 46,000 square feet of factory space and hire at least 125 new employees, it said yesterday. The land has been rented on a five-year lease from the Regional Industrial Development Corporation of Southwestern Pennsylvania.

Equipment is expected to arrive in March and the site expansion could be completed as early as this September, Eos claimed.

“We’re bringing quality green jobs to the region and building a renewable energy hub in the middle of coal country,” Eos CEO Joe Mastrangelo said.

Eos has already ramped up production from 65MWh annual capacity in 2020 to 260MWh last year. The third iteration of its battery systems is expected to begin performance testing this quarter and in December Eos secured a supply deal for high purity zinc-bromide — a key component of the batteries’ electrolyte — with chemicals group TETRA Technologies, from US-based sources. 

The battery maker listed on NASDAQ last year. It claimed US$137.4 million of customer orders had been booked during 2021 including its biggest single customer order yet, a 300MWh deal with EPC firm Blue Ridge Power. 

During 2021 Eos also received a US$100 million investment commitment from Koch Industries venture capital arm Koch Strategic Platforms, as well as a US$25 million equipment financing deal with debt and equipment financing company Trinity Capital, which the battery company said would go towards purchasing equipment for the Turtle Creek plant. 

Its manufacturing operations had been started up as a joint venture (JV) with nuclear industry technology company Holtec, but Eos bought out its partner to own the JV, called HI-POWER. The Turtle Creek plant is on a former nuclear equipment manufacturing facility site which was used by Westinghouse, one of Holtec’s partners. 

Eos is one of the founder members of the Long Duration Energy Storage Council, an international collaboration between energy storage companies, end-user customers and other stakeholders, which tech giants Google and Microsoft recently signed up to. 

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Representatives of NHOA, Solar Energy UK, Fluence and Trina Storage in the supply chain discussion panel, chaired by Robin Redfern of consultancy Everoze. Image: Solar Media Events via Twitter.

Pandemic-related supply chain issues for lithium battery materials hitting the energy storage space are just “bumps in the road” for the sector, and the supply chain will “come out stronger because of it,” according to panellists at the Energy Storage Summit 2022. 

Well-documented problems with the supply of lithium materials have meant that the price differential between lithium-ion phosphate batteries and NMC (nickel, manganese and cobalt) has closed, said Giuseppe Artizzu, CEO for the global business line energy storage at energy storage and e-mobility solutions provider NHOA (formerly Engie EPS). 

“No one would have predicted this a year ago,” he added, speaking during a discussion on the first day of the event held in London this week by our publisher Solar Media.

“The BESS market has grown faster than expected which is partially why these supply chain issues have arisen. But that challenge also represents an opportunity to grow. The supply chain will come out stronger because of it.” 

Chris Hewett, CEO of national trade association Solar Energy UK, was equally sanguine: “If the demand is there innovation and capital will follow. It may change the economics but fundamentally these are bumps in the road for BESS.” 

In a discussion on navigating these issues, Julian Jansen, EMEA region growth & market development director for Fluence, added: “Without scale you have no chance. BESS will only account for 4% of lithium-ion demand over 2021-2030, so if you don’t have scale within that you will not be making a dent in the market.” 

The discussion then moved on to the place for second-life batteries. Jansen and Hewett both said that second-life batteries would have a big role in the residential and commercial industrial (C&I) space but Jansen didn’t see them as a solution in the front-of-meter grid-scale sector, preferring recycling. 

“It’s too early to say whether secondary cells will solve the problem,” said Alicja Kowalewska, principal for energy storage at Gore Street Capital. “But the confidence needs to be there that there is a market for them in order for people to go and build solutions around second-life batteries.” 

Big picture drivers for localised supply chains

The question of second-life batteries provided a natural segway to discussing recent EU initiatives to increase supply chain transparency and encourage recycling of batteries, which can be seen as part of a wider policy shift to bring production closer to the West. 

Julian supported this principle: “We need to bring supply closer to markets where the product is being delivered and not ship absolutely everything from the Far East. That will also be beneficial for ESG requirements, especially in light of new EU regulations.”

Jae Choi, Head of North American Region, Trina Storage: ”Diversifying the battery technology is a must for energy storage.”

He sounded a note of caution about diversifying for the wrong reasons, however: “We are seeing inexperienced developers come from solar and wind to ESS who contract different parties for each for part of the value chain to keep costs down. But this is a problem when things go wrong because it can take a while to figure out exactly what went wrong. Suppliers might point the picture at each other which can ultimately delay the project.” 

Hewett added: ”Politically it is attractive to move the supply chain closer to home. We are early in the market and the UK is one of the fastest-movers on energy storage, so there is an opportunity to embed that supply chain here.” 

Jansen said that new project developments already point to this achievement: “Current pipeline projects show that by 2035, Europe will be 43% of lithium battery production, up from 15% today, though of course that will mostly be for electric vehicles.” 

Highlighting the EU’s push to increase the recycled component of batteries, he added: “You start creating a clear cycle of how the batteries are used, built, recycled and reused. That will be critical for the industry’s success and right now very few address all this. The way Northvolt addresses this move is incredible and pioneering and something we should all be looking at.”

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Telstra Energy’s Murra Wurra Wind 1 project in Victoria, Australia. Image: Fluence-Telstra.

Fluence’s artificial intelligence-driven bidding platform will optimise large-scale wind and solar assets in Australia for Telstra Energy, the energy subsidiary of telecoms company Telstra. 

The deal will see the energy storage technology and services company’s Fluence IQ Bidding Application used for Telstra’s 232MW Murra Warra 1 wind farm in the state of Victoria and the Emerald Solar Park 88MW solar PV plant in Queensland, Fluence said on 23 February. 

Also this week, Fluence announced that it has supplied a 10.8MW battery energy storage system (BESS) solution for renewable energy infrastructure investor Greencoat Renewables at the latter’s 20MW Killala Community Wind Farm in Ireland. 

The Telstra contracts join a growing portfolio of asset optimisation deals Fluence has in place, after it signed 2,744MW of Fluence IQ digital contracts in 2021 and another 250MW booked in the first quarter of its 2021 financial year. Earlier this month a 1.1GW deal to optimise solar PV assets in the US for AES Corporation, one of its parent companies, was also announced. 

The rapid expansion of the company’s digital division has come since it acquired energy storage artificial intelligence and software provider Advanced Microgrid Solutions (AMS) in 2020 and netted a major contract to bid a 182.5MW battery system into California’s CAISO wholesale markets in February 2021.

Its diversification into optimising the operation and market-facing activities of renewable energy assets has been a big part of that strategy, with over 4.7GW optimised and contracted in the two markets the offering is currently available in, CAISO and Australia’s National Electricity Market (NEM). 

In an interview published this week on Energy-Storage.news, Fluence EMEA growth and market development director Julian Jansen said that there are plans to roll the Fluence IQ platform out for global availability during 2022. 

“The bidding software is a critical part of the ecosystem that we are building that is helping customers change the way they power their world,” Jansen said.

“It really helps renewable asset owners and operators to optimise the bidding and dispatch and make better, data-driven decisions in an increasingly complex and volatile market.”

Fluence has claimed its bidding platform can enable a revenue uplift of 10% for renewable energy facilities over a 12 month period and several times as much for battery storage assets.  

It uses available data to make price forecasting and optimisation decisions to control asset participation in wholesale market opportunities. 

“We are very pleased to be working with Telstra Energy to maximise the performance of two of its key sources of clean energy and providing them a solution to navigate the volatility and complexities of Australia’s energy market,” Fluence chief digital officer Seyed Madaeni said.

“The NEM’s shift to ‘five-minute settlement’ (5MS) last year, where the market is both dispatched and settled at five-minute intervals, requires renewable energy assets to have extremely accurate price forecasting abilities to ensure they avoid any adverse pricing events.”

Company’s third Irish wind farm colocated BESS project underway

Meanwhile at Greencoat Renewables’ wind farm, in County Mayo, Ireland, the Fluence BESS has entered the commissioning phase. 

It marks the first investment in energy storage technologies by Greencoat Renewables, and the first of any company managed by Greencoat Capital, a specialist renewable energy infrastructure fund manager.

Once operational, it will help to increase system stability in the Irish electricity grid through participation in energy flexibility markets. The BESS is to make use of Fluence’s Gridstack product, which is designed for grid applications including frequency regulation, flexible peaking capacity and enhanced transmission and distribution services.

The company said it was chosen by Greencoat Renewables based on its “successful track record in deploying complex battery-based energy storage systems with high configurability, and industry-leading reliability and safety standards”.

The BESS is Fluence’s third project involving battery-based energy storage co-located with wind farms in Ireland, and its 10th publicly announced venture in the Irish Single Electricity Market.

Fluence managing director of UK, Ireland & Israel, Dr. Marek Kubik, pointed to how the Irish government has increased the target percentage of renewables in the generation mix in 2030 from 70% to 80%.

“Targeting levels of 5GW offshore wind, 8GW onshore wind and 1.5-2.5GW solar PV, makes it more important than ever for investors and developers of green generation to look at battery-based energy storage technologies as a way of maximising operational, financial and environmental benefits of their assets,” he said.

Another Fluence battery project discussed this week on Energy-Storage.news is the 10MW/20MWh EStor-Lux project in southern Belgium. Partners in the project consortium said that the BESS has been successfully participating in grid services markets for two months after coming online at the end of last year. 

Greencoat wind farm project story by Alice Grundy. It first appeared on Solar Power Portal. 

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Panasonic is expanding the number of homeowners in the U.S. who will gain access to the benefits of Panasonic’s renewable energy solutions portfolio through the promotion of two new Elite and two new Premium level solar installers. Homeowners who purchase from a member of the Panasonic Solar Residential Installer Program can take advantage of the Panasonic AllGuard and TripleGuard warranties, which cover Panasonic solar panel systems for performance, product, parts and labor for 25 years.

Celestial Solar Innovations LLC (Frederick, Md..) and FirstPV (DBA) Solar Union (San Francisco, Calif.) have joined as Premium Installers, which includes exclusive access to qualified sales leads, a library of cooperative marketing assets, training programs and an installer portal.

As Elite Installers, Green Power Energy (Annandale, N.J.) and Capital Remodel & Design Inc. (DBA) Five Star Solar (Elk Grove, Calif.) will gain all the benefits of Premium Installer level as well as first access to new products and rebates, preferred access to product availability and premier pricing.

“The solar industry continues to heat up across the country, and as a result will only become more competitive,” says David Lopez, national sales manager for Panasonic Life Solutions Company of America. “We are proud to equip members of the Panasonic Solar Residential Installer Program with benefits and tools they need in increasingly crowded markets.”

“We are excited about the installers who meet Panasonic’s high standard of excellence, and to promote them in a greater number of U.S. markets,” comments Mukesh Sethi, director of solar and energy storage at Panasonic Life Solutions Company of America.

Image: Photo by Jeremy Bezanger on Unsplash

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Land in Imperial County, California, where CTR is developing a lithium extraction pilot plant from geothermal brine. Image: CTR.

US President Joe Biden announced a “major investment in domestic production of key minerals and materials” this week, including efforts to strengthen supply chains of lithium and other materials used in batteries. 

Speaking at a virtual round table on Tuesday (22 February) attended by White House National Climate Advisor Gina McCarthy, representatives of various private industry stakeholders and California’s Governor Gavin Newsom, the president said the US must establish and strengthen domestic supply chains.

While Newsom noted his appreciation that Biden was able to attend the event without cancelling, given some of the likely demands on his time. 

“Oh, are you kidding me? We don’t have much going on, you know, other than Russia and Ukraine and — anyway,” Biden joked. 

However, it was China that dominated Biden’s opening remarks, as he noted that close to 100% of minerals used in the US for powering phones, computers, household appliances, electric vehicles and batteries, solar panels, wind turbines and so much more are imported from China. 

In particular, China has cornered the market on many of the materials used in clean energy technologies, he said, which is why Biden has committed to building a clean energy supply chain bearing the ‘Made in America’ stamp.

The event came just over a year since the president ordered an urgent review of supply chain dynamics which led to the president issuing a priority list of actions that needed to be taken.

It is also a couple of weeks since the Department of Energy (DoE) committed to US$3 billion of loan-based funding for upstream battery supply chain activities. Specialist renewable energy industry lawyer Adam Walters of Stoel Rives told Energy-Storage.news that the loans were well-intentioned but would not address the main elements of China’s competitive dominance, including cheap labour costs.

Initiatives directly pertaining to batteries announced at this week’s event included a commercial viability test for sustainable lithium extraction from geothermal brine in California’s Imperial Valley, aka Lithium Valley. 

Berkshire Hathaway Energy Renewables (BHE Renewables) would take the lead in breaking ground on a demonstration facility. This could result in a multi-billion dollar investment over five years, the White House said. 

BHE Renewables CEO and president Alicia Knapp said that the company is working “to secure the most abundant source of lithium in the United States, using the world’s most environmentally friendly technology, and providing economic and employment benefits in one of the most disadvantaged communities — counties in the country.”

It has already been operating geothermal plants in Imperial Valley for four decades, and that means the company pumps up thousands of gallons of lithium-rich brine to the surface every minute. However, the technology to extract and process the lithium from the brine does not exist, Knapp said, meaning it is simply pumped “right back down into the ground”.

A demonstration plant will come online this April, extracting lithium from brine, supported by a US$6 million California Energy Commission (CEC) grant, while a further DoE grant of US$14.9 million will fund a second phase of the project: converting recovered lithium into battery-grade lithium compounds. 

If those are successful, construction of BHE Renewables’ first plant would begin in 2024 to come online in 2026. 

Silvia Paz, chair of the Lithium Valley Commission, said the hope was that lithium extraction could become a more environmentally friendly process while bringing new economic stimulus to one of California’s most disadvantaged regions. 

The announcement comes shortly after Imperial County local authorities voted in favour of the Lithium Valley Economic Opportunity Investment Plan, which vowed to make the best of the region’s 1,500MW to 3,000MW of new geothermal energy potential and 15 million metric tonnes of lithium. 

The plant would be in the Imperial Valley Salton Sea region, an inland salt lake area. Energy-Storage.news has reported on efforts to establish a lithium extraction pilot plant from 40MW of geothermal fields led by developer Controlled Thermal Resources (CTR).

CTR has said its pilot plant could be up and running by next year and produce around 35,000 tonnes of lithium carbonate equivalent by 2025. CTR’s consortium also got a CEC grant for just under US$4.5 million and investors include Bill Gates’ VC group Breakthrough Energy Ventures.

Among other supply chain activities discussed at the round table event were a proposed pilot between battery recycling company Redwood Materials and major automakers Ford and Volvo to extract materials including lithium, graphite, cobalt and nickel from used batteries, a US$35 million heavy rare earth supply chain grant for industrial magnet manufacturing and more.

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Rendering of an NHOA project in development in Taiwan for parent comany TCC. Image: NHOA.

Italy-headquartered global energy storage and electric vehicle (EV) technology group NOAH, formerly Engie EPS, is expanding in the US market with one project recently going online and two more contracted.

The 10MWh battery energy storage system (BESS) in Bellingham, Massachusetts, was switched online after commissioning in December. It is part of a solar-plus-storage plant and is now providing services to the New England Independent System Operator (ISO New England). 

The project was delivered for Kearsarge Energy, a renewables project developer, finance and holding company which has also awarded NOAH two more projects totalling 12 MWh capacity. 

“NHOA has provided a highly reliable and competitive solution along with excellent customer service well suited to the needs of the Massachusetts SMART programme. Solar plus storage is a complicated offering and NHOA has been an excellent partner from design to contracting to commissioning. We look forward to more successes,” said Andrew Bernstein, Managing Partner of Kearsarge Energy. 

The SMART programme was introduced to incentivise households to invest in residential or community – I.e. utility-scale but ownership shared amongst local people – solar power by being guaranteed payment by their utility for 10 years (residential) and 20 years (community).

NHOA recently announced comparatively larger deals in the Australian and Taiwanese markets totalling 200MWh and 420 MWh, respectively, as reported by Energy-storage.news.

However, it also had a 240MWh project in Hawaii cancelled by former parent company ENGIE, a few months after ownership of the energy storage company was transferred to Taiwan Cement Corporation (TCC) and rebranded under its new name. 

TCC acquired two-thirds of its shares, but the company remains listed on the Euronext Paris with a 34.85% free float. 

Its financial results since switching majority owner suggests NHOA may have to some extent switched focus to EVs away from energy storage, or at the very least has grown the latter much faster. 

Two-thirds of its FY 2020 sales of €11.1m (US$12.6 million) were from its storage business line NHOA Energy with the remainder from its ‘eMobility’ segment, eSolutions Free2move.

Fast forward to FY 2021, the proportion of its €33m sales between storage and eSolutions is now 48:52, with storage doubling but eSolutions quadrupling.

Standard Solar, EDF bringing online Massachusetts SMART project

In related news from Massachusetts, developer Standard Solar said this week that a solar-plus-storage project also accredited under the SMART programme in the town of Acton is about to come online.

Standard Solar acquired the project from the development arm of EDF Renewables, which was awarded it in 2018 after a Request for Proposals (RfP) from the nearby Town of Plymouth and Acton Water District. It pairs 4.69MW of solar PV with a 4MWh BESS. The BESS discharges to the grid during times of peak demand, reducing local reliance on fossil fuel peaker plants.

Energy-Storage.news reported at the beginning of this month that DSD Renewables, a solar PV and energy storage developer owned by Blackrock Real Assets has acquired a SMART programme incentivised solar-plus-storage portfolio with 45MW of PV and 88MWh of battery storage from solar developer Borrego. The six-site project is set to begin construction in 2023.

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