US solar and storage EPC and O&M company Borrego has entered into a master supply agreement (MSA) with Gotion High-Tech for the latter’s DC block battery energy storage equipment, starting in 2023.
The MSA will provide Borrego with gigawatt-hours of secure, fixed-price volume capacity of Gotion’s product, available for customer delivery starting next year, the company said.
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Borrego is a pure-play engineering, procurement and construction (EPC) and operation & maintenance (O&M) provider for solar PV and energy storage, having recently sold its project development arm to investment firm ECP (which then re-named the business New Leaf Energy).
A press release described Gotion as a “global tier-one vertically integrated stationary and EV battery and storage system manufacturer”.
Its energy storage modular solution uses lithium iron phosphate (LFP) battery cells, which is growing in popularity for stationary energy storage thanks to better safety features and – before the spike in lithium carbonate prices – lower cost than nickel manganese cobalt (NMC) batteries.
John duPont, vice president of business development and operations at Borrego said: “We have a multi-gigawatt-hour vendor pipeline of storage products at fixed pricing available for utility and distributed generation projects requiring delivery in 2023-2025.”
“This locked-in capacity will help our customers avoid expected supply chain constraints when the Inflation Reduction Act kicks in.”
Industry observers expect the Inflation Reduction Act, recently passed by US president Joe Biden, to boost both the upstream and downstream energy storage sectors domestically.