ABB Wants to Boost Storage & Microgrid Activity with a $113-Million Fund
ABB, a global technology company that specializes in power and automation, plans to boost energy storage and microgrid installations with a $113 million fund provided by Susi Partners, a clean energy infrastructure investment advisor.
Under an agreement between the two companies, ABB will provide its ABB Ability-based microgrid technology and battery energy storage systems. SUSI, a Swiss company, will finance the projects through its energy storage fund.
Either SUSI will own the assets or will partner with developers in the projects, said Markus Bruegmann, global product group manager for ABB’s Grid Edge Solutions, in an interview with Microgrid Knowledge.
ABB plans to focus on behind-the-meter and end-of-utility line applications in developed countries, including the U.S, Europe and Australia. The projects might include microgrids or storage that support mining operations, companies installing electric-vehicle charging infrastructure, and remote villages.
“SUSI already has renewable and solar funds, and sees a demand to support the battery storage microgrid application,”Bruegmann said. “Our goal is to develop new projects together.”
Financing renewable-rich microgrids
ABB believes a large number of developers and end customers are interested in using the funds. “We have just started discussion,” Bruegmann said.
In many cases, he said, microgrid customers lack financing, and this partnership aims to overcome that challenge.
“For example, take commercial and industrial customers, companies that want more renewable power. How do they finance the project and have a high penetration of renewables?” said Bruegmann. “This is the kind of challenge we are addressing. With our technology and the financing from SUSI, we will boost project implementation.”
