This special interest group is for professionals to connect and discuss all types of carbon-free power alternatives, including nuclear, renewable, tidal and more.


US witnesses 4X y/y rise in deals for solar + storage development platforms in 2022

image credit: Enerdatics
Mohit Kaul's picture
Founder, Enerdatics

Building Enerdatics. Leadership experience in a high growth SaaS company and secured a successful exit. A natural leader who cares about creating value for all stakeholders. Extensive experience...

  • Member since 2022
  • 149 items added with 38,850 views
  • May 25, 2023

As per Enerdatics data, there have been $13.8bn of transactions for solar assets co-located with battery storage facilities, in 2022. Deal activity was led primarily by European private equity (PE) firms and utilities as they attempted to tap the substantial tax credits and incentives for renewable energy and storage projects offered under the Inflation Reduction Act (IRA). Under the new guidelines, developers have the option to claim production and investment tax credits (PTCs and ITCs) on solar projects, and ITCs on storage projects, improving the economic attractiveness of storage facilities. Additionally, revenue stacking for battery projects allows developers to earn revenue through the provision of ancillary services such as grid management and balancing, in addition to serving as back-up power sources for intermittent generating facilities. 

Recent deal: Switzerland-based SUSI Partners has acquired a controlling equity stake in Encore Renewable Energy, a developer of distributed and utility-scale solar PV and battery storage assets in the northeastern US. Encore has already executed over 85 projects, totaling 60 MW, and plans to develop over 500 MW of community-scale solar and energy storage projects, in addition to a portfolio of utility-scale systems, over the next five years. The deal will enable Encore to transition from project developer to independent power producer (IPP). 

Other significant transactions: Some of the recent corporate transactions in the solar-plus-storage segment in the US include Grenergy’s acquisition of 60% stake in Sofos Harbert Renewable Energy, Birch Creek Energy’s takeover of Foundation Solar Partners and Green Investment Group’s purchase of Treaty Oak Clean Energy.


No discussions yet. Start a discussion below.

Get Published - Build a Following

The Energy Central Power Industry Network® is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other.

If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. It's also easy to share a link to an article you've liked or an industry resource that you think would be helpful.

                 Learn more about posting on Energy Central »