Advanced Microgrid Solutions (AMS) is a company that integrates clean renewable energy into buildings through supplying energy storage units. Their solutions ensure that businesses use less utility grid energy. The company operates out of San Francisco, California. They are teaming up with Macquarie Group, an investment banking, and diversified financial services group. Macquarie will be supplying the energy giant $200 million to kick-start new energy storage projects.
Chief Executive of AMS, Susan Kennedy, says the funding will ensure that large infrastructure development in energy storage will take place as a result. The projects will see California getting energy storage technologies. The first projects for the two companies will be building 300 megawatt-hour energy producing facilities. According to Clean Technica,the global annual storage market last year reached 700 megawatt-hours. Therefore, the facilities that will be built as a result of the collaboration are going to be quite sizeable. AMS have been taking business office space into the hybrid future. Using Tesla PowerWalls, the company powers buildings through alternative methods, leading to less grid demand. The energy storage market is expected to grow to a demand of 14 GWh by 2020. Thus, deals like these need to become more frequent if the world is to keep up with stationary storage market demand.
Rob Kupchak, the head of US Power, Utilities and Renewables for Macquarie Capital 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.”
A month ago, Bloomberg’s New Energy Finance New Energy Outlook Report 2016 report was released and indicated that the energy storage market would be valued at $250 billion by 2040. The report indicated that the falling prices of lithium and the falling price of battery technology would mean the market would grow considerably.
“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,” said Kelly Warner, President of AMS.
