Macquarie Capital has agreed to provide $200m of capital for Advanced Microgrid Solutions' (AMS) energy storage projects.
The project capital which will be used in design, construction and management of distributed fleet of AMS’s advanced energy storage facilities located at commercial, industrial and government host sites.
AMS President Kelly Warner said: "Macquarie Capital is the gold standard for investment in critical infrastructure.
"Combining our innovative designs and technology with Macquarie's development and financing expertise will enable us to deliver best-in-class storage solutions and build tomorrow's energy grid."
AMS’s energy storage solutions will be used in a range of utility grid services including flexible and reserve capacity, solar integration and voltage management in addition to retail energy services such as demand management, back-up generation and for power quality enhancement.
AMS CEO Susan Kennedy said: "AMS is proud to announce this partnership with Macquarie Capital.
"Macquarie's financial strength and expertise in large infrastructure development makes them the MVP in the world of energy infrastructure."
Macquarie Capital US power, utilities and renewables head Rob Kupchak said: "AMS's focus on contracted, grid-scale energy storage projects stands out amongst developers forging a path in the energy storage space.
"The next decade is likely to see huge changes in the mix of energy consumed across the globe, and we see energy storage rapidly emerging as a growth market in the next generation of energy infrastructure."
At its disposal, AMS has around 300MWh of capacity resources and demand management for utilities and industrial water and university customers in West Los Angeles region.
Southern California Edison will now be buying capacity from the AMS fleet of behind-the-meter, battery-based energy storage systems for 10 years, which can lead to load reduction. This is part of Southern California Edison’s plans to modernise the grid by 2022.