SunEdison Inc. (NYSE: SUNE) has acquired the energy storage project origination team from Solar Grid Storage LLC, a provider in deploying combined energy storage and solar PV systems. With the acquisition, SunEdison now offers battery storage solutions for solar and wind power projects for utilities, municipalities, businesses, and consumers.
"Storage is a perfect complement to our business model and to our wind and solar expertise," said Tim Derrick, general manager of SunEdison Advanced Solutions. "Our strategy is to increase the value of the solar and wind projects that we finance, develop, own, and operate by improving their availability and ability to interact with the grid. With this acquisition we have added the capability to pair energy storage with solar and wind projects, thereby creating more valuable projects and positioning ourselves as a leader in the rapidly growing energy storage market."
The move into energy storage comes after the company acquired First Wind. With 5-GW of solar and wind assets under management globally, Solar Grid Storage will integrate its solar-plus-storage control services with SunEdison's Renewable Operation Center.
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