December 24 (Renewables Now) - Italian company Falck Renewables SpA (BIT:FKR) has secured the final funding of a tax equity investment for a 6.6-MWh battery energy storage system integrated with an existing solar plant in Massachusetts.
US Bancorp Community Development Corporation is covering a minority portion of the USD-3.6-million (EUR 3.2m) project, Falck announced on Monday. This total sum includes all the equipment, engineering and construction services, as well as the development costs.
NEC Energy Solutions Inc is the supplier of equipment for the project, including its GSS end-to-end grid storage solution and controls software AEROS. Local utility Middleton Electric Light Department (MELD) has signed a long-term capacity service agreement with the Italian company for this system.
Earlier this week, Falck announced it will partner up with Italian oil and gas major Eni SpA (BIT:ENI) to jointly develop at least 1 GW of onshore wind, solar and energy storage projects in the US by end-2023.
(USD 1 = EUR 0.902)