AES makes strategic investment in ‘plug and play’ solar manufacturer 5B

5B's Maverick solution in action. Image: 5B.

Energy tech company AES has made a strategic investment in 5B, an Australian energy start-up that manufactures modular ‘plug and play’ solar solutions.

5B recently closed a AU$12 million Series A investment round that sourced financing from AES amongst others. That investment will now be used to fund the global rollout of 5B’s Maverick solution, platform and ecosystem.

AES will also now begin to deploy the solution across solar projects it is bringing forward, starting with Panama. AES will use Maverick to “fast-track” the delivery of a 2MW solar farm in Panama later this year, before also utilising it as part of an expansion at the 10MW Los Andes solar facility it operates in Chile’s Atacama Desert.

The Maverick solution is comprised of module mounts arranged in a concertina shape at a 10 degree tilt. The mounts are pre-fabricated in a factory before being rapidly deployed on site, and can comprise 40 – 90 PV modules. They claim to accommodate any standard framed 60 or 72-cell PV module.

The principle benefit of the system is purported to be quicker and simpler deployment of ground-mounted solar. 5B claims that using the solution, a single team can deploy in excess of 200kW of solar per day.

Chris McGrath, co-founder and CEO at 5B, said the offering was “defining the next generation for solar power”.

“5B has successfully demonstrated the power of our Maverick solution in the Australian market and now AES is bringing its strength to bear as we scale our solution globally and continue to unlock its full potential.” 

5B’s target is to deploy gigawatts of the Maverick solution globally, and the company intends to tap into AES’ track record of global renewables deployment to help reach that aim.

 “The potential of the partnership we have formed is hugely exciting and palpable to all involved: AES share our vision for a clean energy future and the significance of 5B’s contribution to this, they are incredibly well placed to accelerate us on this mission – across its access to capital, global pipeline of projects and customers, depth of sophistication and experience in the market and portfolio of world leading technology businesses, and critically, we enjoy a genuine and strong resonance between our values,” McGrath added.

11 October 2022
PV CellTech Extra will be held as a series of live webinars and on-demand sessions on 11-13 October 2022. We'll be taking a slightly further forward-looking view at the technologies and roadmaps for new cell architectures set to dominate mass production during 2023-2025 with special emphasis on the potential timelines for technologies beyond the single-junction cell design, including perovskite and hybrid concepts.

Read Next

September 28, 2022
Queensland gets about 21% of its energy from renewables, but the state government has just set an increased target of 70% renewables by 2032.
PV Tech Premium
September 23, 2022
Plans for a temporary revenue cap on solar PV assets across the European Union (EU) could dent investor confidence in renewables, experts have warned, amid concerns that individual member states may be able to set lower caps specific to different technologies.
September 22, 2022
Tech major Amazon has expanded its renewables portfolio globally with 71 new projects with a total capacity of 2.7GW.
September 21, 2022
A new consortium has been formed in Queensland with a MOU to build a green ammonia corridor between Australia and Korea.
September 20, 2022
Private equity firm KKR and Hero Group have invested US$450 million in Indian independent power producer (IPP) Hero Future Energies (HFE) to support its renewables expansion.
PV Tech Premium
September 19, 2022
The proliferation of solar requires PV projects to adapt to their grid surroundings, which increasingly entails connecting alongside adjacent technologies, be it energy storage, other renewables or green hydrogen. Amid the growing threat of curtailment, Jules Scully looks at the rise of the ‘solar-plus’ market and the financial models underpinning it.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)