Module manufacturer and energy solutions company Q CELLS has entered into a strategic partnership with development and financing firm Kendall Sustainable Infrastructure (KSI) to collaborate on project co-development and financing.
KSI manages investments in solar and energy storage projects among other things and Q CELLS has allocated an undisclosed amount of capital for investment into KSI’s projects in the US, which could also include battery energy storage systems (BESS).
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For those projects that do include BESS, Q CELLS will offer its Grid Equity financing product, which is designed to “de-risk energy storage project” through optimising “the value of energy storage systems by participating in ISO wholesale markets and demand response programmes”, the company said.
Q CELLS senior vice president in its North America Distributed Energy Solutions business, Dan Loflin, said the company would engage in “project development initiatives with KSI through providing our hardware, software, and financing solutions designed to maximise returns while de-risking energy storage revenues”.
KSI co-founder and managing director John Chaimanis, said the agreement with Q CELLS would enhance the company’s competitiveness by adding “rare capability” in the marketplace. “Working together will allow us to continue delivering on our promise of ‘value-added finance’ in a world of commodity capital.”
In August last year, Q CELLS North America invested in a portfolio of solar-plus-storage projects developed by Amped Solutions via a grid equity investment.
Back in March 2021, the Seoul, South Korea, headquartered company filed patent infringement complaints in Germany against Astronergy, with a separate filing also made in France relating to the unlawful incorporation of Q CELL technology into modules produced by three major suppliers.