BYD and Pireos Capital, an energy fund created to finance the development of photovoltaic plus energy storage systems (PV+ESS) projects in Mexico and Latin America, announced today a new partnership for the deployment of 100MWh ESS in Mexico, equivalent to the daily power consumption of 30,000 households.
The partnership seeks to build on the experience of both companies developing large scale solar and storage projects worldwide.
The introduction of BYD’s lithium iron phosphate (LiFePO4) ESS technology opens the door to a wide variety of applications at the residential, commercial, industrial and power grid level. These include investment deferral, frequency regulation, virtual power plants, emergency backup, peak shaving, load shifting and net-zero energy.
BYD’s ESS include 500 kW to 2MW containerized outdoor cabinets for utility applications, 60 kW to 120 kW outdoor cabinets for commercial and industrial use, as well as 3 kW to 9 kW mini-ESS for residential installations.
By partnering with BYD, Pireos Capital will be able to offer for the first time in Mexico an integrated PV+ESS solution, with smart integration software capabilities, designed to maximize the environmental and economic benefits of renewable energy, minimizing the financial risks associated with multiple-vendor integration and energy storage technology.
Regarding potential partnerships, both companies said they are open for business and already working with a number of solar engineering, procurement and construction (EPC) companies for the deployment of more than 50% of the projected capacity during the first twelve months of the agreement.