SunEdison to Buy 1,000 of Imergy’s Flow Batteries for Rural Electrification
Greentech Media, March 25, 2015
SunEdison will purchase up to 1,000 flow batteries from Imergy Power Systems as part of its commitment to bring power to 20 million people by 2020.
SunEdison is purchasing Imergy’s ESP 30 systems, a 30-kilowatt battery that can provide about 24 hours, or 120 kilowatt-hours, of storage, according to Bill Watkins, CEO of Imergy.
Although Imergy introduced its third-generation battery for large-scale applications last month, the partnership with SunEdison is more in line with its original business model. Imergy started out as Deeya Energy, making batteries for backup power at telecom towers in India. The partnership with SunEdison will also involve power backup for telecom towers.
Indian telecom towers are increasingly switching to renewable power sources to comply with government mandates.
Because the telecom tower is the anchor for the project, the companies can bank the project using a hybrid power-purchase agreement, even though villagers may have little or no credit. Imergy has also used prepay models in other off-grid applications.