Solar company SunEdison acquires energy storage startup

March 5, 2015
LinkedIn
Twitter
Reddit
Facebook
Email

SunEdison has made a significant first step into the grid-scale energy storage market, with the acquisition of US startup Solar Grid Storage.

The company, which recently disclosed that it had reached its 2014 solar installation target of 1GW, was reported by Reuters and others to have closed the deal in January, with the news agency quoting an interview with the company’s vice president of energy storage deployment, Tom Leyden. The company has since confirmed the reports.

Leyden was previously Solar Grid Storage’s chief executive officer, still listed as such on the storage company’s website, and according to Reuters said that in his new role his “mandate at SunEdison” is nationwide energy storage deployment in the US.

Solar Grid Storage produces the PowerFactor250 and PowerFactor500 combined inverter and battery product, which is designed to be co-located with large-scale PV systems. Solar Grid Storage continues to own and operate the battery. To date the company has deployed a handful of its systems in the PJM utility service area, which covers 61 million customers mainly in the US Midwest. The utility provides payments for grid-balancing services that have been described by analyst Dean Frankel at Lux Research as among the most “robustly priced” in the States. Financial terms of the SunEdison deal have not been disclosed.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

SunEdison, which hit its 2014 install target of 1GW, recently said revealed it expected solar in the US to continue to grow strongly even after the end of the Investment Tax Credit support scheme.

11 November 2025
San Diego, USA
The 2024 Summit included innovative new features including a ‘Crash Course in Battery Asset Management’, Ask-Me-Anything formats and debate-style sessions. You can expect to meet and network with all the key industry players again in 2025 from major US asset owners, operators, RTOs and ISOs, optimizers, software and analytics providers, technical consultancies, O&M technology providers and more.

Read Next

October 31, 2025
Developer Eku Energy and LP Renewables have announced plans for the 400MW/1,600MWh Belah battery energy storage system in Queensland, Australia.
October 30, 2025
Victoria’s home battery energy storage programme has supported the installation of approximately 20,000 residential energy storage systems, doubling its original target of 10,000 units, according to the state’s climate action minister, Lily D’Ambrosio.
October 28, 2025
Eos announced its move to Pennsylvania, US, as well as agreements for energy storage projects with Talen Energy and MN8 Energy.
October 28, 2025
AEMO has reported a record 56.6GW of new generation and storage capacity in the National Electricity Market (NEM) development pipeline.
October 27, 2025
Energy trading company Foxwell Power (FWP) has contracted Saft to supply a battery storage solution for a 356MWh project in Taiwan.

Most Popular

Email Newsletter