FirstLight Acquires Two Energy-Storage Installations, Launches Strategic Partnership with AMS
BURLINGTON, Mass., August 5, 2019 – FirstLight Power has acquired Advanced Microgrid Solutions’ (AMS) portfolio of energy-storage installations at Brandeis University and the University of Massachusetts at Dartmouth.
The acquisitions, which total 1.3 megawatts (MW) of energy storage capacity, are FirstLight’s first move into battery storage technology. The two systems can operate for two hours at a time, providing 2.6 megawatt hours (MWh) of energy.
“FirstLight’s vision is to grow and diversify as a company and to lead our industry in providing innovative, environmentally friendly energy solutions,” said John Shue, President and CEO of FirstLight. “This acquisition helps us achieve that vision by diversifying our existing fleet. FirstLight’s expertise in optimizing energy storage resources will also help the Commonwealth continue to transition towards a cleaner energy future.”
The systems that FirstLight acquired include:
- A 1.044 MWh Tesla PowerPack system at UMass Dartmouth. The system is integrated with a 1.8-megawatt onsite cogeneration system, 600 kW wind turbine, and 300 kW of solar photovoltaic generation.
- A 1.6 MWh Tesla PowerPack system at Brandeis University in Waltham, Massachusetts. The system charges and discharges behind the meter as a demand-response unit.
FirstLight will retain AMS to operate and manage the batteries to optimize revenues under a fixed-term, fixed-price contract with potential performance incentives.
“AMS is extremely excited to partner with FirstLight,” said Susan Kennedy, Founder, CEO and Director of AMS. “As New England’s largest energy storage provider, FirstLight is leading the transition to clean, flexible, more resilient energy resources. AMS is proud to offer our advanced optimization software and storage expertise to help FirstLight advance its mission to provide safe, affordable energy solutions.”
“Recent changes in the ISO-New England market are enabling greater participation of distributed resources, and in particular storage resources,” said Sidd Manjeshwar, Chief Financial Officer of FirstLight. “This transaction and strategic partnership with AMS represents a step in the right direction to address fuel security for our customers, Brandeis and UMass Dartmouth, and an opportunity to diversify in energy-storage markets that we understand well through management of the Northfield Mountain and Rocky River energy storage systems.”
As New England’s largest energy storage provider, FirstLight’s flagship operation is Northfield Mountain, which at 1,168 MW is the largest pumped hydroelectric storage project in ISO-NE and can provide enough electricity to power more than 1 million homes for over 7 hours each day. FirstLight also operates the 29 MW Rocky River Station in Connecticut, the oldest energy storage facility in the United States, and more than 200 MW of hydropower and solar generation in Connecticut and Massachusetts.
ABOUT FIRSTLIGHT POWER
FirstLight’s mission is to provide safe and affordable energy solutions leading to a cleaner, more reliable energy future. We are dedicated to being conscientious stewards promoting a greener environment in our communities. Based in Burlington, MA, with operating offices in Northfield, MA and New Milford, CT, FirstLight operates a diversified electric-generation portfolio including hydroelectric, pumped-storage hydro, and solar. FirstLight power also provides, under our federal operating licenses, stewardship of and recreational access to 14,000 acres of land and waters along the Connecticut, Housatonic, Shetucket, Still, and Quinebaug Rivers. Our parent company, PSP Investments, is a Canadian pension fund manager committed to social responsibility and long-term sustainability in its investments.
ABOUT AMS
About AMS | AMS is a SaaS company with an A.I. software platform that uses deep learning algorithms to enable optimized dispatching and trading of complex energy assets in energy markets. AMS’s business is powered by its industry-leading transactive energy management platform, which AMS and its partners utilize to offer compelling and innovative energy management services to customers, utilities, asset owners, and operators. To learn more, visit www.advmicrogrid.com and follow us on twitter: @advmicrogrid.
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