Macquarie Group Ltd closes financing of 53 MW energy storage project

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Macquarie Group Ltd has closed a USD 100 million financing for the 52.5/ 315 MWh MW energy storage project for Southern California Edison (SCE). The said project is owned by Macquarie and Advanced Microgrid Solutions (AMS).

The project's batteries will be installed at sites in Los Angeles and Orange counties that requires larger load requirements.

The CIT Group Inc served as the lead invester in the refinancing of the project, as well as Rabobank and Sumitomo Mitsubishi Banking Corporation.

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