Matrix Renewables, the TPG Rise-backed global renewable energy platform, is acquiring the Gaskell West 2 and 3 project of 105 MW AC solar plus 80 MWh energy storage from Canadian Solar Inc. through its wholly owned Recurrent Energy LLC subsidiary.
The project, located in Kern County, Calif., is fully contracted holding five long-term power purchase agreements with cities and utilities in California. The solar plus storage project is expected to reach commercial operation in late 2022. This hybrid project marks the first transaction between Matrix Renewables and Recurrent.
“Through this project, we are continuing to grow our presence in the U.S., drawing from Matrix Renewables’ ambitions to become a major renewables platform across the U.S., Europe and Latin America,” says Cindy Tindell, managing director and head of U.S. for Matrix Renewables. “We are pleased to partner with Canadian Solar and Recurrent on a project that will leverage our combined expertise to provide clean, affordable power to the state of California.”
Canadian Solar’s majority-owned subsidiary CSI Solar will support the project by providing the turnkey battery storage solution for the 80 MWh storage part of the project. The integrated technology solution includes the supply, installation and commission of a lithium iron phosphate-based battery system. In addition, CSI Solar will support the battery storage system with capacity and performance guarantees, ensuring system output, safety and reliability.
“Co-locating energy storage with solar is critical to providing affordable, dispatchable and clean renewable electricity, especially during peak demand hours in the evening, thereby meaningfully increasing the value of our projects for our customers and partners,” states Dr. Shawn Qu, chairman and CEO of Canadian Solar.
“The execution of this project demonstrates Canadian Solar’s growing expertise in battery storage, both in its development as well as delivering the integrated technology solution,” continues Dr. Qu. “This is yet another battery storage project that our project development and system solutions teams are delivering in California, following the Mustang, Slate and Crimson battery storage projects. We are pleased to partner with Matrix Renewables in this project and look forward to further contributing to California’s efforts to decarbonize its economy, while creating long-lasting benefits to the local community.”