Q CELLS buys a portfolio of solar-plus-storage projects by Amped Solutions
- Module manufacturer and also energy solutions company Q CELLS North America has actually bought a portfolio of solar-plus-storage projects created by Amped Solutions by means of a grid equity investment.
The deal saw Q CELLS provide Amped Solutions with capital for the rights to future grid services income anticipated to be produced by the portfolio of operating systems released in California. The companies have been called for additional information.
The deal was carried out via a 'Grid Equity' financing structure, which Q CELLS said had applications throughout more US states, as well as could be used for business and industrial (C&I) and neighborhood solar projects that are under advancement or in construction.
"We're delighted to offer our customers and companions financial investment capital under a new Grid Equity structure. Our team believe it can be a beneficial co-development device to help them increase the business economics as well as bankability of their solar-plus-storage projects," stated Shane Kim, head of state of Q CELLS North America.
California-based Amped Solutions as well as its partners will retain possession of the systems and all other earnings streams connected with the systems, such as costs financial savings, incentives as well as tax benefits.
"This financial investment from Q CELLS has actually permitted us to receive funding now and also decrease our project risk. We intend to utilize that capital to update as well as increase the systems, which will improve their performance for Amped Solutions, for our clients, as well as for Q CELLS. This is a win-win-win offer," said Dan Martin, CEO of Amped Solutions.
In July, Q CELLS authorized a memorandum of understanding (MOU) with electronic devices giant Samsung to establish a 'zero energy homes' technique for global markets.
And also, back in March, the Seoul, South Korea, headquartered business filed patent violation complaints in Germany against Astronergy, with a separate declaring additionally made in France associating with the illegal unification of Q CELL technology into modules created by three major providers.