Greenbacker Renewable Energy Co. has purchased a pre-operational energy storage portfolio and two pre-operational solar portfolios from Borrego, a leading developer; engineering, procurement, and construction (EPC) provider; and operations and maintenance provider for large-scale renewable energy projects throughout the United States. The storage portfolio represents GREC’s first assets in the standalone battery storage development space, a sector critical to greater grid resilience.
The two projects in the storage portfolio, located in New York City, will have a total power capacity of 10 megawatts (MW) and be able to store up to 40 MW per hour (MWh)
of energy. Both are front-of-meter assets, meaning consumers will access the stored power via the electric grid. Battery storage systems offer distinct benefits for consumers. They can lower electric bills by deploying stored energy during periods of peak demand and improve electric grid resiliency by saving power res