Sustainable Development Captial (SDCL) Energy Efficiency Income Trust (SEEIT) was the first UK listed company of its kind to invest exclusively in the energy efficiency sector, with projects located in the UK, Europe and North America. By partnering with On.Energy, SEEIT aims to expand its portfolio of energy projects in the United States and Canada.
“On.Energy represents SEEIT’s first investment into a focused battery energy storage system provider, further diversifying SEEIT’s portfolio while also providing opportunities for synergies across its existing portfolio companies,” said Purvi Sapre, SDCL Fund Manager. “We are delighted to be partnering with a company committed to the development and commercialization of technologies that push forward global efforts to achieve net zero by providing affordable and sustainable energy through safe and efficient infrastructure.”
On.Energy is a fully integrated battery energy storage system solutions (BESS) provider with headquarters in Miami and offices in Texas, Mexico and Peru. The company currently has 80 MWh of battery storage in operation and under construction and an additional pipeline of nearly 2.5 GWh of BESS projects across North and South America in industries such as airports, hotels, retailers, plastics, and power generation, serving Walmart, Hyatt Hotels, Glencore, Enel and more.
The company’s energy management system, On.Command, helps to implement turnkey solutions that support peak shaving, energy arbitrage, frequency regulation, UPS/backup power, wholesale market integration, and microgrid operations for utilities, system operators and C&I customers.
“On.Energy has a proven track record of delivering fully integrated battery energy storage solutions to our customers. This investment, which is our first from a major institutional investor, demonstrates the confidence shown by SEEIT in supporting our projects and validates the tireless efforts of our employees, investors, and management team,” said Alan Cooper, On.Energy CEO.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
Thank you for this info. SEEIT technology system designs for storage “for microgrid operations” sounds great. Separately? simultaneously? from/with 1976 FLPMA-culture business model-type projects, proposed for siting on remaining “biological refugia” Mojave Desert wildlands?… SEEIT would seem?, by name, to be about how to keep Utilities’ financiers in existence.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.