Engie Storage is to supply and operate a 19MW portfolio of six energy storage systems in Massachusetts that will be coupled with solar power plants.
The combined solar and storage portfolio is being developed by Syncarpha Capital and will contribute to the Solar Massachusetts Renewable Target Program and participate in ISO-New England wholesale markets.
The projects are expected to come online in late 2019 and early 2020.
Engie Storage will provide Syncarpha with a turnkey GridSynergy hardware and software solution and will operate the storage system for 20 years.
Under a market participation agreement executed for each of the six energy storage sites, Engie Storage will also pay fees in exchange for the rights to operate the solar and energy storage system in the ISO-NE wholesale capacity, reserves and frequency regulation markets.
Syncarpha chief executive Cliff Chapman said: “Syncarpha selected Engie Storage for the portfolio due to Engie’s sophisticated and integrated offer, leading software, operational experience, and bankability.
“Working with Engie creates incremental value for these assets in addition to the Smart program and meets the financial and risk requirements of tax equity investors and lenders.”
Engie Storage chief executive Christopher Tilley said: “Syncarpha has extensive experience developing and operating solar assets in Massachusetts.
“They have been great to collaborate with on such a pioneering business model.
“Through this agreement we will be able to leverage our strengths to achieve a greater outcome for both parties.
“This announcement will be the first of many as Engie Storage is executing more than 100MWh of solar and storage contracts with market participation agreements for the Smart program.”