Toronto: NRStor C&I L.P., a subsidiary of NRStor Inc., and IHI Energy Storage, a division of IHI, Inc. announced plans to build eight contracted projects July 19, based on a new Memorandum of Understanding between the two companies.
Under the MOU, signed on June 8th, IHI Energy Storage will deliver 42MWh of behind-the-meter (BTM) Lithium ion battery solutions for transactions executed with eight commercial and industrial customers in Ontario. The energy storage projects are expected to be operational in 2019.
IHI Energy Storage’s obligations under the agreement will include delivery of the battery, inverter, energy storage software, temperature-controlled enclosure, full balance of plant and a full wrap of the system, including a warranty and operations and maintenance for the life of the project.
NRStor C&I operates under a build, own, operate structure with the goal of reducing customers’ electricity costs via revenue stacking multiple cashflow streams, utilizing a fossil-fuel free technology that helps customers reduce their carbon footprint.
NRStor C&I L.P., a subsidiary of NRStor Inc., is a turn-key BTM energy storage solution provider for commercial, industrial and institutional customers.
IHI Energy Storage is a Chicago-based subsidiary of IHI, Inc., New York, and provider of energy storage system solutions.
Moe Hajabed, President of NRStor C&I, clarified in an email that the projects are all behind the meter, primarily for peak shaving purposes, all independent of the IESO procurement described elsewhere this issue.