The SUSI Energy Storage Fund will provide financing to NRStor C&I, a subsidiary of Toronto-based NRStor that specializes in storage solutions. The facility will include several unspecified lithium ion battery suppliers, SUSI Partners said.
The fund will be used to support behind-the-meter services for undisclosed Commercial and Industrial (C&I) customers, backed by lithium-ion technology. NRStor C&I will help to bring down grid-wide peaks and smooth out intraday fluctuations related to renewable energy assets, according to an online statement.
Annette Verschuren, chair and chief executive of NRStor, hailed the deal as a “major milestone in the development and expansion of the Canadian energy storage market.” Verschuren added that NRStor C&I will now be able to expedite the deployment of behind-the-meter energy storage solutions for commercial, industrial and institutional customers.
“By creating a standard set of agreements and templates, this transaction represents the first large-scale repeatable financing in the sector,” claimed Asif Rafique, managing director of energy storage at SUSI Partners.
NRStor C&I currently claims a portfolio of more than 300 MW of behind-the-meter energy storage projects in the C&I segment. Energy-focused SUSI’s projects range from load leveling and ancillary services to microgrids.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.