California-based esVolta last week launched its new utility-scale energy storage business with the purchase of operational projects and a pipeline of contracted projects.
The total portfolio represents 116 MWh of projects. esVolta purchased the projects from storage provider Powin Energy Corp.
The company said its initial operating assets will be located in California and Ontario, Canada, and it will focus on greenfield development and M&A opportunities in North America.
esVolta entered a long-term agreement with Powin Energy under which Powin will be the company’s exclusive provider of battery storage systems.
“Powin Energy’s business plan has long had the vision of transitioning the company out of the project development business and into being a fully dedicated energy storage systems and services provider,” Geoffrey Brown, President of Powin Energy, said in a statement.