August 5th, 2016
This week’s TOP 5 includes an incoming energy storage mandate in Massachussets, Imergy ceasing its operations and selling its assets, the sale of several of Ensync’s PPAs to American Electric Power, a new EU funding for Gaelectric’s CAES project in Ireland and a successful round of investment for Axiom Exergy in California.
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- The Massachussets state legislature passed a bill that will likely lead to procurement targets for energy storage at the utility level, aka an energy storage mandate.
- Following the bankrupcy of Sunedison, one of its major partners, Imergy entered into an Assignement for the Benefits of the Creditors. It has therefore ceased its operations and terminated its employees.
- « EnSync Energy Systems announced the sale of multiple PPAs, including the first solar-plus-storage projects sold in Hawaii. The portfolio of PPAs have been sold to AEP OnSite Partners, an American Electric Power subsidiary for an undisclosed amount. »
- Gaelectric is to receive €8.3million in EU fundings to develop its 330MW CAES installation in Ireland.
- Axiom Exergy, a Californian company that develops a cold storage technology for supermarkets, has raised $2.5 million in a Series A funding.