Solar module manufacturer and developer Canadian Solar has launched a US$150 million fundraise to support its growth strategy and build out a substantial battery energy storage business.

Pacific Gas & Electric (PG&E), one of California’s three main investor-owned utilities, has said that 1,400MW of battery storage is to be deployed in its service area by the end of 2023 will keep the company on-track to meet statewide renewable energy goals “while ensuring grid reliability”.

Assets are up for sale following the bankruptcy of EnSync, a networked smart home solutions provider from the US which has been using battery energy storage to aggregate connected systems for energy trading and other services.