AES shuts funding for 400MWh US battery

• Luna Storage project in Los Angeles Region schedules online later on in 2021

AES Corporation has shut a $154m non-recourse debt funding for a 400-megawatt hour standalone grid battery storage space in California, United States.

The purchase was closed by sPower, an independent power producer, which just recently came to be as part of AES' United States business.

The Luna Storage space project, situated in the City of Lancaster, in Los Angeles Area, is expected to come online later on this year.

The non-recourse financial obligation raise, set up by KeyBanc Capital Markets Inc, Credit Score Agricole Corporate and Investment Bank, Silicon Valley Bank, and Export Development Canada, is among the biggest funding offers for a utility-scale standalone battery storage project.

A 15-year energy storage contract (ESA) with Clean Power Alliance (CPA) for Luna Storage space was signed in April 2020, making it the biggest ESA for a community choice aggregation( CCA) energy retailer in The golden state.

" Closing this site financial debt financing deal highlights the developments of standalone battery storage space modern technology to aid us change to a trustworthy, carbon-free grid," stated AES Clean Energy chief financial officer James Marshall.

" The Luna Storage project will make it possible for Clean Power Alliance (CPA) to set you back properly incorporate recurring renewable resource resources right into the grid, offering more reliability for their clients at a fixed price.".