Morning Brief: AES expects Fluence to generate $500 million this year, Distributed Solar Development acquires Massachusetts community portfolio

Also in the brief: solar coming to coal country in Pennsylvania, Stellar Solar brings in NBA legend Bill Walton as an advocate for the company and more.

Image: Fluence

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AES expects Fluence Energy to generate $500 million in revenue this year and $3 billion per year by 2025 as decarbonization efforts expand worldwide. In June, Fluence launched a sixth-generation “standardized technology stack” that AES said is easy to “rapidly and cost-effectively deploy.” It said the modular design enables scale from 1-MW to 1-GW systems and said in its second-quarter earnings presentation Aug. 6 that it has 800 MW of orders already lined up. Fluence had a 1.6-GW backlog of energy storage projects as of the end of the second quarter. The company said it has a 6.2-GW backlog of renewables, 59% of which is secured under contracts. AES told analysts that 40% of the backlog is wind projects, 38% is solar, 13% is storage and 9% is hydroelectric. Source: IEEFA

Distributed Solar Development has acquired a four-project, 3.9 MW community solar portfolio in Massachusetts. All of the projects are currently under development and are expected to be some of the first projects under Massachusetts’ SMART program to achieve commercial operation. PowerMarket will oversee the portfolio’s subscription management as well as customer relations. As for who these customers will be, each project is expected to serve a single anchor customer for approximately 50% of capacity, with the balance serving a combination of smaller commercial, industrial, and residential customers. Source: Distributed Solar Development

 

The Reclaiming Appalachia Coalition has announced the five winners of the coalition’s 2020 mini-grants, one of which will be going towards solar development. The Eastern Pennsylvania Coalition for Abandoned Mine Reclamation (EPCAMR) will be receiving a grant to work with solar developers to develop solar projects in PA’s Appalachian Coalfields ranging from 2 MW to 20 MW. The project is specifically looking at reclaimed abandoned mine sites. The other mini-grant winners can be found here. Source: Reclaiming Appalachia Coalition

Stellar Solar, an installer based out of San Diego, California has brought in NBA and Broadcast legend Bill Walton as a spokesman for the company. Walton has been a staunch proponent of solar in the past and said of his partnership with Stellar Solar, “I’ve known of Stellar’s sustained excellence and success for years, including their incredible streak of winning San Diego’s Best seven of the past nine years and three years in a row.  Stellar is synonymous with all the things I believe in, stand for and try to live every day.” Beyond just being a spokesman, Walton will work with Stellar Solar to educate potential customers on the economic and environmental benefits of solar. Source: Stellar Solar

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