MicroGrid Networks, (MGN), a developer, owner and operator of battery energy storage systems in New York City, has announced the closing of a strategic investment from Palisade Infrastructure, in partnership with SER Capital Partners. The transaction supports MGN’s continued growth across New York City and adjacent markets.
The partnership with Palisade provides MGN with additional capital and resources to accelerate its next phase of growth. MGN now has more than 250 megawatt hours of battery energy storage projects under construction and has established a significantly larger development pipeline across its exclusively controlled sites. Under the transaction, Palisade will invest in MGN’s operating and construction-stage projects and make a strategic investment in the platform company. SER will retain a majority ownership stake in the platform company and continue to actively support the company alongside Palisade and the MGN management team. Financial terms were not di
