Tesla’s battery supply contract with Advanced Microgrid Solutions (AMS) is quickly proving to be accelerating the deployment of energy storage capacity. After announcing a major 34 MWh contract to deploy Powerpacks at water treatment facilities in California last month, AMS confirmed today that it will install new Powerpacks at buildings owned by Invesco.
Invesco’s real estate arm, appropriately named ‘Invesco Real Estate’, has $71 billion in real estate assets under management. It will start by installing Tesla Powerpacks at some of its buildings located in Aliso Viejo, California, but AMS says that they will analyze “the firm’s entire US portfolio” for further energy storage deployments.
Susan Kennedy, Chief Executive Officer of AMS, commented on the announcement:
“In my opinion, Invesco is one of the largest and most forward-thinking real estate investors in the world. This initiative is a great example of a corporate leader stepping up to help build a stronger, more resilient grid when – and where – it is needed most.”
Of course, Invesco is not investing in energy storage as an altruistic gesture, the company will use the energy capacity to store electricity when the rates are low and use it during peak demand in order to reduce their utility bills.
Tesla will supply the Powerpack systems, which will be ranging in size from 250kW/1,500kWh to 500kW/2,000kWh, and AMS will operate the systems to provide grid services to Southern California Edison. According to AMS, the projects announced today will be installed in late 2017.
Last month, Tesla confirmed that it delivered 300 MWh of batteries since launching Tesla Energy in May 2015. In the past 2 months alone, over 100 MWh of new Powerpack projects have been announced.