Powin Energy Storage

Non-Recourse financing for energy storage projects a possibility following landmark project

An Oregon-based energy storage developer has secured non-recourse construction financing for an 8.8-megawatt/40.8-megawatt-hour battery plant in Ontario – suggesting a sea change in direction for financing within this sector.

The investment from Brookfield Renewable Partners for the Powin Energy project is expected to change the face of investment as non-recourse funding becomes more attractive for those energy storage projects offering fixed revenue streams. Non-recourse finance, a loan where the lender is only entitled to repayment from the profits of the project the loan is funding, not from other assets of the borrower, is more usually seen in renewable energy markets but to date has been limited within the world of energy storage.

Geoffrey Brown, Powin Energy president, says, “Securing non-recourse financing is a critical step for energy storage assets themselves, as well as the broader market. Investor understanding of the technical side of battery storage has increased in recent years. Now it’s just about driving up the volume of projects. We don’t expect storage to be different to any other renewable energy.”

Read the original article

If you want to know more about this and other topics directly from end users of energy storage technologies join us at one of these annual events: The Energy Storage World Forum (Grid Scale Applications), or The Residential Energy Storage Forum, or one of our Training Courses.

LATEST ARTICLES

Product Development: Embracing product safety and compliance

PRODUCT DEVELOPMENT: EMBRACING PRODUCT SAFETY AND COMPLIANCE Recent safety incidents on storage plants have raised concerns about the fire safety of battery storage systems. Such events are extremely rare compared to the cumulated global deployments of energy storage systems, which have reached more than 27 GWh by end of 2020 (Wood Mackenzie 2021). However, for…

Read More

Annual Installed Capacity Significantly Increases

While the global market was under the haze of the epidemic and many countries were still in lockdown, the energy storage market showed extremely strong resilience and began to recover and grow since Q3 and Q4 of 2020. According to the BloombergNEF report, the global energy storage market in 2020 has developed faster than expected,…

Read More

Future energy predictions: Growth of flexibility and grid forming

  It is well known that COVID-19 has caused low energy demand and the growth of renewable energy across Europe. Now, Andrew Tang, Vice President for Energy Storage at Wärtsilä, predicts this will result in swift action to build better grid resiliency. The share of renewable power across Europe has skyrocketed over the last six…

Read More

★REVIEWS

“Probably the most interactive and well organized storage event on the calendar.”

★★★★★

Sales Director, S&C

“Great topics, competent speakers, good networking: keep it like that.”

★★★★★

TLC & SCADA Manager, FRI-EL

“High scientific content, well targeted, perfect organization.”

★★★★★

Expert Technical & Governance, Elia

Excellent networking event. The sponsorship was well worth it.”

★★★★★

Manager, ATL

View More

x