Southern California Edison , the largest subsidiary of Edison International, is the primary electricity supply company for much of Southern California, USA. It provides 14 million people with electricity. However, the Los Angeles Department of Water and Power, San Diego Gas & Electric, Imperial Irrigation District, and some smaller municipal utilities serve substantial portions of the southern California territory. Wikipedia.
News Article | May 10, 2017
National Grid will streamline operations of more than 400 megawatts of grid-edge resources over 3 years with the first phase of 185 megawatts targeted to go live in 2017 REDWOOD CITY, CA--(Marketwired - May 10, 2017) - National Grid, a leading electricity and natural gas company serving over 7 million customers across New York, Massachusetts, and Rhode Island, announced that it has selected AutoGrid, a leader in flexibility management software, to unify management of its demand response (DR) and distributed energy resource (DER) programs across its service area in North America. The programs are expected to enroll over 400 megawatts (MW) of DR and other DERs over a 3-year timeframe. These programs will deliver significant cost savings to participating businesses while helping National Grid reduce operational expenses and investments in transmission and distribution infrastructure, which will lower costs for all National Grid customers. National Grid plans to implement five programs in the first year of operation across its entire service territory. These include the New York Emergency DR Program (EDRP), the New York Distribution Load Relief Program (DLRP), the New York Commercial System Relief Program (CSRP), the Massachusetts Connected Solutions Program, and the Rhode Island Connected Solutions Program. Eligible commercial and industrial customers can enroll in the program through vendors such as EnerNOC, CPower, NRG, IP Keys, and Direct Energy. National Grid will use AutoGrid Flex™ to unify management of these programs across all customers through a single dashboard, using it for event dispatch, measurement and verification, and reporting for all customers. In addition, the aggregators participating in the program will be able to manage their participation through AutoGrid Engage™, AutoGrid's multi-tenant customer engagement application. In subsequent years, National Grid may expand the use of AutoGrid Flex for other non-wires alternative initiatives. These include innovative new programs that optimize customer-sited energy storage systems, solar power systems, EV chargers, industrial control equipment, and other DERs, providing National Grid with yet another source of flexible capacity to balance supply and demand on the grid. "AutoGrid Flex will help us deliver innovative flexibility management programs to our business customers, enabling them to reduce their energy costs and meet their sustainability goals," said Carlos Nouel, Vice President of New Energy Solutions, National Grid. "We look forward to leveraging AutoGrid Flex's powerful optimization capabilities to improve the reliability of our operations and to support initiatives that not only deliver savings to our customers but reimagine how we engage with our customers." National Grid customers who are interested in participating in DR programs can learn more here: http://ngrid.com/demandresponse. "National Grid has been a leader in developing innovative new business models that address today's most urgent energy challenges, and we are excited to serve as their technology provider on this ambitious initiative to manage distributed energy resources at the grid edge," said Dr. Amit Narayan, CEO of AutoGrid. "By unifying management of these flexibility management programs, National Grid is demonstrating how utilities of the future will use flexibility management to deliver value to their customers and succeed in the new distributed energy world." Using Flexibility Management to Win in a Distributed Energy World AutoGrid Flex and AutoGrid Engage enable utilities, electricity retailers, and other energy service providers to manage a diverse set of distributed energy resources across all customer and program types, helping them launch new services that reduce costs, increase revenues, improve customer engagement, and enhance system reliability. AutoGrid Flex includes four flexibility management modules -- AutoGrid DROMS™, AutoGrid DERMS™ AutoGrid VPP™, and AutoGrid ESMS™ -- that all run on a unified platform that uses AutoGrid's Predictive Controls™ technology to provide energy service providers with a comprehensive flexibility management solution for all types of DERs such as battery storage, EV chargers, thermostats, load control switches, pool-pumps, water heaters, co-generation units, backup generators, and industrial demand response. AutoGrid Engage is a residential, commercial and industrial customer engagement application that incorporates AutoGrid's advanced analytics and big data processing capabilities to provide relevant and personalized pricing and DER offers to residential, commercial and industrial customers, deliver real-time optimization to increase customer savings and program participation. Using AutoGrid Flex and AutoGrid Engage, energy companies can differentiate themselves in an increasingly competitive new energy world by offering highly personalized flexibility management programs to all their customers. Energy consumers can get significant savings in an automated and convenient manner from their trusted energy provider. By utilizing the unified AutoGrid Flex application to implement their entire flexibility management roadmap, energy companies gain significant time-to-market and cost advantages over the alternative of trying to implement a hodge-podge of point solutions that require expensive and time consuming work to integrate with their complex backend systems and operational processes. AutoGrid Flex's powerful portfolio optimization capabilities allow energy companies to optimize their entire DER portfolio across all programs in real-time, and at scale, significantly boosting their portfolio's return on investment. About National Grid: National Grid ( : NG) ( : NGG) is an electricity and natural gas delivery company that connects nearly 7 million customers to vital energy sources through its networks in New York, Massachusetts and Rhode Island. It is the largest distributor of natural gas in the Northeast. National Grid also operates the systems that deliver gas and electricity across Great Britain. Through its U.S. Connect21 strategy, National Grid is transforming its electricity and natural gas networks to support the 21st century digital economy with smarter, cleaner, and more resilient energy solutions. Connect21 is vital to our communities' long-term economic and environmental health and aligns with regulatory initiatives in New York (REV: Reforming the Energy Vision) and Massachusetts (Grid Modernization). For more information please visit our website, or our Connecting website, follow us on Twitter, watch us on YouTube, friend us on Facebook, find our photos on Instagram. About AutoGrid: AutoGrid builds software applications that enable a smarter Energy Internet. The company's AutoGrid Flex™ suite of Energy Internet applications allows utilities, electricity retailers, renewable energy project developers and energy service providers to deliver cheap, clean and reliable energy by managing networked distributed energy resources (DERs) in real time and at scale. AutoGrid applications are all built on the AutoGrid Energy Internet Platform™ (EIP™), with patented Predictive Controls™ technology that leverages petabytes of smart meter, sensor and third-party data, along with powerful data science and high-performance computing algorithms, to monitor, predict, optimize and control the operations of millions of assets connected across global energy networks. AutoGrid Flex has more than 2,000 megawatts of DERs under contract with more than 25 global energy companies around the world. Several of the world's leading energy companies, such as E.ON, Bonneville Power Administration, Florida Power & Light, Southern California Edison, Eneco, Portland General Electric, CPS Energy, New Hampshire Electric Cooperative, NextEra Energy, Xcel Energy and CLEAResult, are using AutoGrid's software to improve their operations, integrate renewables and drive deeper engagement with their customers. AutoGrid has been recognized with several prestigious industry awards including the 2016 Energy Productivity Innovation Challenge (EPIC), Greentech Media's Grid Edge Award 2016, Bloomberg New Energy Pioneer 2016, World Economic Forum Technology Pioneer 2015, Red Herring Top 100 North America 2015, 2017 Cleantech Global 100, and Industrial Innovation Company of the Year 2014 by the Cleantech Group.
News Article | May 11, 2017
LOS ANGELES--(BUSINESS WIRE)--Optimum Group LLC President Ali Sahabi addressed the growing need for collaboration and long-range master planning at the U.S. Department of Energy National Tribal Energy Summit this week in Washington, D.C. Sahabi, a longtime professional with extensive experience in renewable energy and sustainable real estate development projects, addressed the benefits of strategic partnerships and long-range master planning to complete projects on time and on budget. Presenting his evidence at two conference roundtable events, he spoke on: “Renewable energy projects on tribal lands are much more likely to be completed in a timely fashion when they are supported by collaborative partnerships and a long-range master plan,” Sahabi said. Optimum Group recently completed a 1 MW solar power array for the Soboba Band of Luisen͂o Indians in California, securing two DOE grants that resulted in $1.5 million in federal funding for project. Because the company had previously completed a master plan of the 7,000-acre territory, the project received a favorable review because hydrology, endangered species, geotechnical issues and other potential obstacles had been identified and addressed. “The master plan facilitated grant funding that may have been delayed had the solar array been subjected to unforeseen delays,” said Michael Castillo, tribal administrator for the Soboba Band of Luisen͂o Indians. “We appreciate the foresight taken to ensure that this project and others like it move forward according to plan.” Optimum Group LLC managed the entire process as the solar project developer and owner’s representative. That work included planning and engineering, applications, securing the two grants from the U.S. Department of Energy and finalizing an aggregate net-energy metering agreement with Southern California Edison following Rule 21 of the California Public Utility Commission. Scott Geary, managing partner of Stone Angel Capital, facilitated a panel on which Sahabi was a speaker. As a frequent consultant to the DOE and the National Conference of State Legislators, Geary found the content of the presentation extremely relevant to today’s renewable energy climate. “Ali Sahabi offered a unique and valuable perspective to the topic of tribal energy projects,” Geary said. “His approach, using comprehensive due diligence in all of his projects, has proven to be extremely effective in promoting the successful implementation and funding of energy projects in tribal communities.” Optimum Group provides innovative real estate development and construction management services to government agencies, public and private companies as well as nonprofit organizations. Decades of experience provides comprehensive oversight for a wide variety of projects with intense attention to detail. Our highly qualified team of professionals has successfully planned, designed and built bridges, industrial buildings, high-rises, colleges, hospitals, notable mixed-use developments, renewable energy projects and award-winning green communities. Visit www.optimumgroupllc.com.
News Article | May 9, 2017
"Our fleet of high-quality wind assets continues to perform at a high level and production met our expectation for the quarter. As such, we are on track to achieve our CAFD target for 2017(2)," said Mike Garland, President and CEO of Pattern Energy. "With the acquisition and commencement of commercial operations at Broadview, all 18 of our projects are fully operational, providing a total owned capacity in excess of 2.6 GW. We believe significant and diverse opportunities exist to expand our portfolio on an accretive basis. Acquisitions from our identified ROFO list provide near-term opportunities to grow our CAFD per share in a manner, and at a pace, that reflects the valuation of the business and our cost of capital. The opportunity to potentially invest in the development business, through Pattern Development 2.0(1), offers us secure access to high-quality assets from a proven platform that can grow our CAFD per share in the medium and long-term. We believe that the outlook for renewable energy has never been better and we have the business model to deliver sustainable and growing returns for our shareholders." (2) These forward looking measures of (a) 2017 full year cash available for distribution (CAFD) and (b) five-year average annual purchase price multiple of CAFD contribution from Broadview are non-GAAP measures that cannot be reconciled to net cash provided by operating activities as the most directly comparable GAAP financial measure without unreasonable effort primarily because of the uncertainties involved in estimating forward-looking changes in working capital balances which are added to earnings to arrive at cash provided by operations and subtracted therefrom to arrive at CAFD. A description of the adjustments to determine CAFD can be found within Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations - Key Metrics, of Pattern Energy's 2017 Quarterly Report on Form 10-Q for the period ended March 31, 2017. Pattern Energy sold 2,038,159 megawatt hours ("MWh") of electricity on a proportional basis in the first quarter of 2017 compared to 1,801,034 MWh sold in the same period last year. The increase was primarily attributable to volume increases of 133,297 MWh from controlling interests in consolidated MWh due to less favorable wind conditions in the first quarter of 2016 compared to the current period and a 103,828 MWh increase from unconsolidated investments due to the acquisition of Armow in October 2016. Overall, production was at the Company's expectation for the first quarter compared to its long-term forecast. Net cash provided by operating activities was $43.8 million for the first quarter of 2017 compared to $14.7 million for the same period last year. The $29.0 million improvement was primarily due to higher revenues of $10.7 million (excluding unrealized loss on energy derivative and amortization of power purchase agreements ("PPAs")), increased distributions from unconsolidated investments of $16.5 million and decreased project expense of $3.1 million. These increases were partially offset by a $4.1 million increase in operating expense. Cash available for distribution was $45.1 million for the first quarter of 2017 compared to $41.0 million for the same period last year. The increase of $4.1 million, or approximately 10%, was primarily due to a $10.7 million increase in revenues (excluding unrealized loss on energy derivative and amortization of PPAs, a $3.1 million decrease in project expense, a $1.3 million decrease in distribution to noncontrolling interests, and a $0.9 million increase in total distributions from unconsolidated investment, as reported in operating and investing activities on the consolidated statements of cash flows. These increases were partially offset by increases in operating expense of $4.1 million, project reserve funding of $3.5 million, interest expense of $2.0 million and principal payments of $1.4 million. Net income was $2.5 million in the first quarter of 2017, compared to a net loss of $29.0 million for the same period last year. The improvement of $31.6 million was primarily attributable to an increase in revenues of $13.2 million and decreases of $23.2 million in other expense and $3.1 million in project expense. These increases were partially offset by increases of $4.1 million in operating expense and $3.5 million in tax provision. Adjusted EBITDA was $98.2 million for the first quarter of 2017 compared to $78.1 million for the same period last year. The 26% increase was primarily due to a $10.7 million increase in revenues (excluding unrealized loss on energy derivative and amortization of PPAs), a $9.6 million increase in our proportionate share of Adjusted EBITDA from unconsolidated investments, and a $3.1 million decrease in project expense. These increases were partially offset by an increase to operating expense of $4.1 million. Pattern Energy is re-confirming its targeted annual cash available for distribution for 2017 within a range of $140 million to $165 million, representing an increase of 15% at the midpoint of the range, compared to cash available for distribution in 2016. As noted above, forward-looking cash available for distribution is a non-GAAP measure that cannot be reconciled to net cash provided by operating activities as the most directly comparable GAAP financial measure without unreasonable effort for the reasons stated above. Pattern Energy declared an increased dividend for the second quarter 2017, payable on July 31, 2017, to holders of record on June 30, 2017 in the amount of $0.418 per Class A common share, which represents $1.672 on an annualized basis. This is a 1.0% increase from the first quarter 2017 dividend of $0.41375. Subsequent to the end of the quarter, Pattern Energy acquired a 272 MW interest in the 324 MW Broadview projects and the 35-mile 345 kV Western Interconnect transmission line from Pattern Development 1.0 for $269 million. The funding of the purchase price from Pattern Energy consisted of cash consideration of approximately $215 million from currently available liquidity and a project loan of approximately $54 million secured by Western Interconnect. Based on the expected timing of cash flows and assuming normal wind conditions, Pattern Energy expects the CAFD contribution, after deduction of Western Interconnect financing costs, to be $18 million in 2018 and to increase approximately $2.5 million per year thereafter through 2022. This results in a five-year average CAFD of $23 million per year and a 9.3x CAFD multiple, based on the cash consideration of $215 million paid to acquire Broadview and Western Interconnect. As noted above, forward-looking five-year average and anticipated 2018 and annual cash available for distribution is a non-GAAP measure that cannot be reconciled to net cash provided by operating activities as the most directly comparable GAAP financial measure without unreasonable effort for the reasons stated above. Broadview, which is located 30 miles north of Clovis, New Mexico, commenced commercial operations in late March. Broadview has entered into two 20-year power purchase agreements with Southern California Edison, which has a BBB+/A2 credit rating, for sale of 100 percent of its output, up to a total of 297 MW, which has been factored into the project's economics. Pattern Energy has the Right of First Offer (ROFO) on a pipeline of acquisition opportunities from Pattern Development 1.0 and Pattern Development 2.0 (together, the "Pattern Development Companies"). The identified ROFO list stands at 962 MW of total owned capacity. This list of identified ROFO projects represents a portion of the Pattern Development Companies' 5,900 MW pipeline of development projects, all of which are subject to Pattern Energy's ROFO. Since its IPO, Pattern Energy has purchased 1,194 MW from Pattern Development 1.0 and in aggregate grown the identified ROFO list from 746 MW to a total of 2,156 MW. Below is a summary of the Identified ROFO Projects that the Company expects to acquire from the Pattern Development Companies in connection with Pattern Energy's project purchase rights: Cash Available for Distribution and Adjusted EBITDA Non-GAAP Reconciliations The following tables reconcile non-GAAP net cash provided by operating activities to cash available for distribution and net income (loss) to Adjusted EBITDA, respectively, for the periods presented (in thousands): Pattern Energy will host a conference call and webcast to discuss these results at 10:30 a.m. Eastern Time on Tuesday May 9, 2017. Mike Garland, President and CEO, and Mike Lyon, CFO, will co-chair the call. Participants should call (888) 231-8191 or (647) 427-7450 and ask an operator for the Pattern Energy earnings call. Please dial in 10 minutes prior to the call to secure a line. A replay will be available shortly after the call. To access the replay, please dial (855) 859-2056 or (416) 849-0833 and enter access code 13895652. The replay recording will be available until 11:59 p.m. Eastern Time, May 30, 2017. A live webcast of the conference call will be also available on the events page in the investor section of Pattern Energy's website at www.patternenergy.com. An archived webcast will be available for one year. Pattern Energy Group Inc. (Pattern Energy) is an independent power company listed on The NASDAQ Global Select Market and Toronto Stock Exchange. Pattern Energy has a portfolio of 18 wind power facilities with a total owned interest of 2,644 MW in the United States, Canada and Chile that use proven, best-in-class technology. Pattern Energy's wind power facilities generate stable long-term cash flows in attractive markets and provide a solid foundation for the continued growth of the business. For more information, visit www.patternenergy.com. Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities laws, including statements regarding the ability to achieve the 2017 cash available for distribution target, the 2018 and five year average annual CAFD generated by Broadview, the ability for a potential investment in Pattern Development 2.0 to offer the Company secure access to high-quality assets to grow CAFD per share, the outlook for renewable energy and the ability of the Company's business model to deliver sustainable and growing returns for the Company's shareholders. These forward-looking statements represent the Company's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company's control, which could cause actual results to differ materially from the results discussed in the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Company's annual report on Form 10-K and any quarterly reports on Form 10-Q. The risk factors and other factors noted therein could cause actual events or the Company's actual results to differ materially from those contained in any forward-looking statement. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pattern-energy-reports-first-quarter-2017-financial-results-300453929.html
News Article | May 9, 2017
Major Renewable Energy Delivery Project by Burns & McDonnell Breaks New Ground for Utility, Engineering Industry and Wins American Council of Engineering Companies Awards A first-of-its-kind underground transmission line completed in Chino and Chino Hills, Calif., the Mira Loma-Vincent 500kV Underground Transmission Project has broken new ground in engineering and construction while allowing a major utility to meet its goals for renewable generation and transmission. Working closely with Southern California Edison , Burns & McDonnell served as Owner's Engineer for routing a 3.7-mile, 500kV underground transmission line through densely populated neighborhoods in Chino and Chino Hills. Start the conversation, or Read more at Electric Energy Online.
News Article | May 16, 2017
As a complement to the conference program, the EMC expo will display technologies helping commercial, industrial, and institutional customers save on their energy costs, upgrading their facilities with innovative solutions, and implementing new or retrofit construction projects which will help drive the new clean energy economy. Co-presented by the U.S. EPA ENERGY STAR® the expo also features the California Green Showcase highlighting leading providers of environmentally friendly, green energy efficiency related products and services. In addition, EMC will also feature a full line-up of professional training seminars focused on current topics such as energy management, water efficiency, energy auditing, building commissioning, renewable energy and more, for a full schedule of available training opportunities, visit www.energyevent.com/seminars EMC is the West Coast's largest energy efficiency conference and expo addressing new solutions in energy efficiency, energy management, high performance buildings, renewables, and power management technologies. Sponsors include Southern California Edison (SCE), Los Angeles Department of Water & Power (LADWP), Western Energy Systems, Optilumen, Retrolux and ICF. EMC will feature more than 50 educational sessions as well as free technical workshops in the expo hall. About AEE: The Association of Energy Engineers (AEE), a professional association, is augmented by its strong membership base of over 18,000 professionals in 100 countries and its widely recognized energy certification program in the fields of energy engineering and energy management, renewable and alternative energy, power generation, energy services, sustainability, and all related areas. AEE's network of 96 local chapters located throughout the U.S. and abroad meet regularly to discuss issues of regional importance. For more about AEE, visit www.aeecenter.org. Follow the Association of Energy Engineers (AEE) on LinkedIn, Twitter: , and . To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/strategic-energy-directions-keynote-speakers-from-google-southern-california-edison-and-kaiser-permanente-to-headline-west-coast-energy-management-congress-300458612.html
News Article | May 18, 2017
Building Industry Association (BIA) Baldy View Chapter efforts to foster collaborative relationships with fellow professional associations in the building disciplines scored a major success as Chapter President Ali Sahabi of Optimum Group LLC, announced the event’s historic partnering with the American Institute of Architects (AIA) Inland California Chapter for its 9 a.m., Friday June 2, Fourth Annual Housing Policy Conference in Ontario. “The BIA Baldy View Chapter is pleased to announce a new partnership with the American Institute for Architects Inland California Chapter,” said Sahabi. “As part of our efforts to forge new relationships and partnerships with other professional trade associations, this year’s Housing Policy Conference is eligible for three hours of AIA HSW Continuing Education credits after attending the event at the Double Tree Hotel, 222 Vineyard Avenue in Ontario. The Conference marks the forth in a series to enable building professionals, policymakers and other interested parties to explore the latest public policy priorities at the Federal, State, Regional and Local levels." “I am proud to have fostered a new relationship with the AIA Inland California Chapter and look forward to working with them and other trade associations in the region to ensure our industry has a strong and diverse voice when advocating for critical issues,” he added. This marks the first partnership between the BIA Baldy View Chapter, which represents the interests of building industry professionals in San Bernardino and eastern Los Angeles counties and the AIA which represents architects by focusing on creating valuable, healthy, secure, and sustainable buildings, neighborhoods and communities by advocating for public policies that promote economic vitality and public wellbeing, added BIA/BV Chief Executive Officer Carlos Rodriguez. This year’s event features Keynote Speaker California Housing & Community Development Director Ben Metcalf, with special guest speakers Sahabi, San Bernardino Board of Supervisors Chairman Robert Lovingood (1st Dist.) and San Bernardino Board of Supervisors Vice-Chairman Curt Hagman (4th Dist.). Additional speakers and panelists will provide insights into Washington D.C. and Sacramento housing policy debates from the Chapter’s National Association of Homebuilders (NAHB) and California Building Industry Association (CBIA) legislative staff, added Rodriguez. Guest panelists assessing state and local policies will include noted area builders Randall Lewis of Lewis Operating Corp, Mark Torres of Lennar Homes, CBIA President Jeff Pemstein and Michael Battaglia of CalAtlantic Homes. A special “Zero Net Energy and the Future of Home Development” will be presented by Southern California Edison (SCE)and moderated by SCE’s Randall Higa featuring Rob Hammon, Ph.D. of Bira Energy, Ram Narayanamurthy of EPRI and Meritage Homes Vice President of Environmental Affairs C.R. Herro. California U.S. Representatives Pete Aguilar (D-31st Dist.), Paul Cook (R-8th Dist.) and Norma Torres (D-35th Dist.) will be featured in a special Federal Policy Overview panel moderated by NAHB Vice President of Government Affairs Lake Coulson. The BIA Baldy View Chapter serves alongside three unified chapters within the BIA Southern California (BIA/SC) region. It provides leadership on public policy issues that promote building quality communities for the region’s growing population, to increase the public appreciation of the importance of the building industry and to facilitate improved business opportunities for its members. For more information on the BIA Baldy View Chapter or to register for the Conference, visit http://www.BIABUILD.com/housing-policy-conference or call 909-945-1884.
News Article | May 23, 2017
Revolutionary solar-plus-ice-battery-storage system successfully reduces both the Theatres' energy bill and community's carbon footprint. Horizon Solar Power (Horizon), a premier marketer, seller, designer, and installer of residential and commercial solar systems in California, and Ice Energy, the leading provider of distributed thermal energy storage solutions, recently completed the installation of a solar-plus-ice-battery-storage system at the Camelot Theatres in Palm Springs, CA. With California and the nation’s increasingly rapid adoption of distributed energy resources, the installation demonstrated the economic and environmental value of combining solar PV with ice battery storage to displace peak electricity demand and enable solar self-consumption on a grid-wide scale. The Camelot Theatres, a three-screen movie house specializing in first-run art, foreign and independent films, sought a cost-efficient and environmental-friendly energy solution to replace their building’s depleted and failing HVAC system. With nine months of extremely hot temperatures, the majority of the theater’s electrical usage is dedicated to their critical air conditioning needs. The Camelot Theatres’ Management team explored various technologies and chose the combination of a Horizon Solar Power installed solar array combined with new HVAC units from Ice Energy. “The combination of the two companies provided us with an incredible option to cut our cost during peak usage hours,” said Matthew Christensen, General Manager at the Camelot Theatres. A solar-plus-storage system comprised of a rooftop array of 73.6 kW of solar panels and five Ice Energy Ice Bear 30s replaced the theater’s outdated HVAC system. During the day, the solar PV supplies the energy needs of the theater, including charging the Ice Bears. In the evening, the Ice Bears provide up to four hours of comfortable cooling using a fraction of the electricity normally needed. "The Camelot Theatres’ greatest energy load comes from turning on the AC in late afternoons and early evenings for community events," said Claude McGee, Horizon Solar Power Director of Business Development. "The clean energy created by our solar PV system, combined with the flexible storage and cooling solution provided by the Ice Bears, reduces both the Theatres’ energy bill and the community's carbon footprint. We look forward to working with Ice Energy on more projects like this across California and the rest of the U.S." "We're witnessing a trend in which the incentives for solar power export are decreasing, so businesses and homeowners are looking for new ways to maximize their investments in solar PV," said Mike Hopkins, Ice Energy CEO. "A well-designed solar-plus-ice-storage system like this one can provide efficient cooling comfort, optimize the use of solar over-generation, and help utilities to flatten their load on a grid-wide scale." California's Self-Generation Incentive Program (SGIP), combined with Property Assessed Clean Energy (PACE) financing, enabled the theater to install the solar-plus-ice-storage system with minimal up-front investment. About Horizon Solar Power | Since 2008, Horizon Solar Power (Horizon) has served as a premier designer and installer of residential and commercial solar systems in California. Rated an A+ by the Better Business Bureau and ranked among the United States’ best solar companies, Horizon specializes in providing customized solar systems that precisely fit its customer’s home, energy and savings goals. Backed by Oaktree Capital Management, a leading global alternative investment management firm, the company has grown to be one of the region's most trusted solar installers through its passionate commitment to providing industry-leading energy savings and customer-centric solar solutions, delivered through superior and dependable service. Visit www.HorizonSolarPower.com to learn more. About Ice Energy | Ice Energy is a leading energy storage provider for the grid. Its Ice Bear units deliver behind-the-meter ice battery storage for HVAC systems in commercial, industrial and residential applications, and now commercial refrigeration, providing peak capacity to over 40 utility service territories nationwide. With contracts to deliver 25.6 MW of storage to Southern California Edison in partnership with NRG Energy; 5 MW in Riverside, CA; 6 MW in Redding, CA; and an additional 450+ MW in the sales pipeline, the company is expanding quickly in the U.S. and internationally. For more information, visit www.ice-energy.com.
News Article | May 24, 2017
TUALATIN, OR--(Marketwired - May 24, 2017) - Powin Energy Corporation ( : PWON), a leading next generation provider of fully integrated energy storage solutions for utilities, C&I, and microgrid applications, has signed a contract with San Diego Gas & Electric (SDG&E) for a 6.5 MW/26 MWh battery energy storage system project. If approved by the California Public Utilities Commission (CPUC), the project will be located in an historic orange processing facility in Escondido, California, where it will be efficiently integrated with the electrical grid and enhance electricity reliability. It will also help revitalize the surrounding community through infill development. This highlights the flexibility of Powin Energy's Stack140 to be located where energy storage is needed and sized based on an end user's specific requirements. Powin's battery storage system will optimize the output of clean sources of energy with grid demand that doesn't always coincide with the intermittent production of distributed resources. Additionally, Powin Energy's storage technologies and grid services are dynamic and cost-effective, giving SDG&E additional flexibility for managing its energy resources, creating great upside value for its customers. "I appreciate the confidence SDG&E has shown in Powin Energy by selecting us for this important project. We continue to find that utilities and IPPs see tremendous value in the fact we do our own engineering, software development, and manufacturing. It makes it easy for us to be adaptable to a given project's unique requirements rather than offering one-size-fits-all solutions," said Geoffrey Brown, president of Powin Energy. The CPUC has mandated that SDG&E procure a total of 165 MW of energy storage by 2020 with all projects being fully operational by 2024. Because of this, SDG&E has been one of the most active utilities in the country at deploying energy storage with over 94 MW of deployed or contracted storage across 20 projects according to the Department of Energy's Energy Storage Database. Powin Energy also installed a 2 MW/8 MWh energy storage system in under six months in Irvine, California, for Southern California Edison that is part of the CPUC's response to the Aliso Canyon natural gas leak. Powin Energy's Stack140 is a modular, purpose-built 140 kWh battery array that easily and cost-effectively scales from 125 kW to multiple megawatt applications. It is available in both indoor and NEMA 3R outdoor models, each of which is engineered to maximize energy density and minimize system footprint. All Stack140 systems are operated by Powin's proprietary bp-OS software that received patents in both the United States and China in 2016 and includes the industry-exclusive Battery Odometer and Warranty Tracker™. Powin's supply chain expertise, modular design, and software proficiency streamline installation and make integrating energy storage into projects pain free. About Powin Energy Corporation Powin Energy ( : PWON) is incorporated in the state of Nevada and is creating the next wave of safe and scalable battery energy storage that is purpose-built for the demands of utility-scale, commercial and industrial, and microgrid applications. The company's Stack140 modular battery system features its patented Battery Pack Operating System (bp-OS) that provides critical insight into system functions and lifespan via the proprietary Battery Odometer and Warranty Tracker™. Powin was incorporated in Oregon in 1990 and has spent almost three decades perfecting supply chain management. Combined with the management team's decades of successful leadership experience in the energy, storage, and utility industries, Powin Energy is able to deliver exceptional value to large-scale energy projects. For more information, visit http://PowinEnergy.com/. Investors can find real time quotes and market information for the company at http://www.otcmarkets.com/stock/PWON/quote Forward Looking Statements This press release contains historical information and forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 with respect to the business, financial condition and results of operations of Powin Corporation and Powin Energy Corporation. The words "will", "believe," "expect," "intend," "plan," "should" and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views, assumptions and expectations of Powin Energy Corporation with respect to future events and are subject to risks and uncertainties. Many factors could cause the actual results, performance or achievements of Powin Energy Corporation to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, or financial information, including, among others, the failure to realize the anticipated benefits of the merger; risks entailed in integration, including employee retention and customer acceptance; the risk that the merger will divert management and other resources from the ongoing operations of the business or otherwise disrupt the conduct of the businesses, potential litigation associated with the merger, and general risks associated with the business of Powin Corporation and Powin Energy Corporation, including changes in the markets in which the businesses operate and in general economic and business conditions, loss of key customers, key customer acceptance of new battery storage technology, ability to completely fund operations to meet potential customer orders, changes in government regulation and tax policy, availability of tax credits, changes in carbon reduction requirements imposed on utilities, unpredictable sales cycles, competitive pressures, market acceptance of new products, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, whether referenced or not referenced in this press release. Various other risks and uncertainties may affect Powin Energy Corporation and its results of operations, as described in reports filed by the Powin Energy Corporation with the Securities and Exchange Commission from time to time, including its annual report on Form 10-K for the year ended December 31, 2015. Powin Energy Corporation does not assume any obligation to update these forward-looking statements.
News Article | May 23, 2017
ROSEMEAD, Calif.--(BUSINESS WIRE)--Edison International (NYSE:EIX) and Southern California Edison today announced that Michael C. Camuñez has been elected to the board of directors of each company, effective June 15. “Michael brings a unique combination of diverse experience and skills to our boards,” said Bill Sullivan, chair of the Edison International board of directors. “We look forward to his insights and counsel on a broad range of critical issues.” “Michael’s public policy expertise, from a shared state, national and international perspective, as well as his extensive legal background and business leadership abilities, will be extremely valuable to our companies,” said Pedro Pizarro, president and chief executive officer of Edison International. Camuñez, 48, is president and chief executive officer of ManattJones Global Strategies, LLC. The firm offers strategic consulting, risk management and market assessment services to FORTUNE 500 companies, specializing in matters related to international business, corporate governance, public affairs, due diligence, economic policy and government relations. Prior to joining ManattJones Global Strategies in 2013, Camuñez served in the U.S. Department of Commerce as assistant secretary for market access and compliance, where he helped to lead the federal government’s efforts to open new markets for U.S. goods and services. In that role, he visited more than 30 countries to advance U.S. trade and economic policy. Before his Department of Commerce service, Camuñez was special counsel to President Obama in the Office of the White House Counsel and special assistant to the president, where he helped manage senior appointments to the domestic cabinet. Prior to his White House roles, Camuñez was an equity partner at the law firm of O’Melveny & Myers, LLP, where he worked for more than 10 years. Camuñez currently serves on the boards of the Pacific Council on International Policy and the U.S.-Mexico Chamber of Commerce. He earned a bachelor’s degree from Harvard University and a J.D. from Stanford Law School. Edison International (NYSE:EIX), through its subsidiaries, is a generator and distributor of electric power, as well as a provider of energy services and technologies, including renewable energy. Headquartered in Rosemead, Calif., Edison International is the parent company of Southern California Edison, one of the nation’s largest electric utilities. Edison International is also the parent company of Edison Energy Group, a portfolio of competitive businesses that provide commercial and industrial customers with energy management and procurement services and distributed solar generation. Edison Energy Group companies are independent from Southern California Edison.
Southern California Edison | Date: 2014-03-28
A system for securing electric power grid operations from cyber-attack, the system comprising a collection of security services distributed throughout a smart grid in two main categories of services; central security services and edge security services.