US$150 million financing closed by Qcells 

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Qcells, a leading global provider of photovoltaic (PV) and energy storage solutions.

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It has closed a US$150 million financing deal for the largest standalone battery energy storage system (BESS) in Texas’ Electric Reliability Council of Texas (ERCOT) market.

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The system, which will have a capacity of 400 megawatts (MW)/1,600 megawatt-hours (MWh).

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It is currently under construction in Austin, Texas and is scheduled to be operational by the end of 2020.

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The project was developed by Qcells and will be owned and operated by an affiliate of Macquarie’s Green Investment Group (GIG).

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This is GIG’s second investment in battery storage in the ERCOT market, following the acquisition of a majority stake in the Notrees Battery Storage Facilityin 2017.

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The project has a 20-year power purchase agreement with Austin Energy, the municipally-owned utility for the City of Austin.

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“We are delighted to be working with Qcells on this innovative project. 

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Which will help unlock the full potential of renewable energy in the ERCOT market,” said Edward Northam, Head of GIG in the Americas.

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“This is a further example of our commitment to invest in battery storage as a key enabler of the energy transition.”

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The Qcells project will be one of the largest battery storage systems in the world and is another example of GIG’s commitment to investing in large-scale, clean energy infrastructure.

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