Swell Energy, an installer and manager of residential renewable energy, energy efficiency and storage technologies, is raising $450 million to finance the construction of four virtual power plants representing a massive amount of energy storage capacity paired with solar power generation.
It’s a sign of the distributed nature of renewable energy development and a transition from large-scale power generation projects feeding into utility grids at their edge to smaller, point solutions distributed at the actual points of consumption.
The project will pair 200 megawatt hours of distributed energy storage with 100 megawatts of solar photovoltaic capacity, the company said.
Los Angeles-based Swell …
