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Southern California Edison To Bring Online 50 MW Tesla Powerpack 2 Systems
The 50 MW projects (utilizing Tesla's Powerpack 2) are conducted by Macquarie Capital, the corporate advisory, capital markets and principal investing arm of Macquarie Group (a global finance corporation).
Beside the large scale of storage systems, Macquarie boasts an industry-first battery storage project financing.
According to the press release, SCE will actually purchase capacity from the Macquarie-owned fleet of behind-the-meter, battery-based energy storage systems, under a 10-year capacity contract to provide load reduction services, as part of SCE's plan to modernize the grid by 2022.
"Macquarie Capital, the corporate advisory, capital markets and principal investing arm of Macquarie Group ("Macquarie") (ASX: MQG; ADR: MQBKY), today announced the closing of the first non-recourse project financing of battery-based energy storage systems with CIT Bank.