EnerVenue strikes four-year deal with Pine Gate Renewables
EnerVenue has announced a four-year agreement with Pine Gate Renewables.
The solar and energy storage developer will procure and deploy 2400 MWh of EnerVenue’s battery energy storage systems in the US to support its growing project pipeline.
It marks the second significant deal involving Pine Gate Renewables this week, following news of Urban Electric Power supplying an initial 4,550MWh of its rechargeable zinc alkaline batteries over the next five years (click here).
“Pine Gate Renewables excels at launching and operating renewable energy and energy storage projects, and is an ideal partner for deploying EnerVenue’s innovative battery systems,” said Randy Selesky, Chief Revenue Officer, EnerVenue.
EnerVenue batteries offer a differentiated value proposition – lower degradation across a wide temperature band, and lower cost for maintenance and augmentation, whilst posing no fire or thermal runaway risk, according to Raafe Khan, Director of Energy Storage at Pine Gate Renewables.
"These batteries also have a stackable form factor and can last for more than 30 years while being able to cycle multiple times a day,” he said. “We are proud to partner with EnerVenue in bringing this technology to our customers, further bolstering our unwavering commitment to strengthen the domestic supply chain and build a sustainable energy storage ecosystem in the United States.”
Pine Gate Renewables has announced its Sugar Solar project is now online and generating 81MWdc/60MWac of renewable energy in the community of Yadkinville, North Carolina.
Providing energy to Duke Energy Carolinas through a 20-year PPA, Sugar Solar was one of the projects selected in the first round Duke Energy’s Competitive Procurement of Renewable Energy (CPRE) Program, and will provide $1.82mn in tax revenue for the local community over the life of the agreement.
Last September EnerVenue struck an investment and collaboration agreement with Schlumberger New Energy to deploy its nickel-hydrogen battery technology.