RENEW and Kinsley Partner to Deliver Turnkey Battery Storage Solutions in the Northeast

Strategic partnership integrates funding, engineering, and service expertise to develop $100 million in energy storage projects

March 6, 2024 – Boston, MA – RENEW Energy Partners (RENEW), a leader in capital solutions for decarbonization, has joined forces with Kinsley Energy Systems (Kinsley), a 60-year veteran in on-site power generation, to deploy Battery Energy Storage Systems (BESS). With $100 million in projects actively under development across the Northeast, this partnership empowers commercial and industrial enterprises to seamlessly integrate BESS into their operations, unlocking energy cost savings, resilience benefits, financial incentives, and lower carbon footprint.

RENEW and Kinsley offer a seamless, end-to-end solution that integrates financing, technical expertise, and operational support. RENEW provides funding and project management, enabling businesses to adopt battery storage technology with no upfront capital investment or operational risk. Kinsley handles installation and long-term maintenance, ensuring reliable system performance. For large energy users, this comprehensive agreement eliminates project complexities by combining energy finance expertise with top-tier service and execution.

“We are thrilled to partner with Kinsley to bring battery storage to more businesses across the Northeast,” said Charlie Lord, Principal of RENEW. “Kinsley’s longevity and reputation for excellent service ensure our clients will be supported with the best care possible.”

“Partnering with the financial experts at RENEW allows us to solve the financing challenge for businesses pursuing battery storage options,” said David Kinsley, President at Kinsley. “As leaders in decarbonization capital, RENEW perfectly complements Kinsley’s technical capabilities. We anticipate many joint opportunities to streamline BESS adoption and accelerate the clean energy transition.”

Commercial and industrial businesses can explore the benefits of this partnership with both RENEW and Kinsley experts. As the energy transition continues, businesses are encouraged to consider becoming a host site to reduce costs and their carbon footprint.

About RENEW Energy Partners, LLC

Founded in 2013, RENEW Energy Partners provides funding and engineering solutions for commercial and industrial, as well as institutional clients to help them achieve their decarbonization objectives. RENEW supports clients in reducing greenhouse gas emissions through a diverse range of projects, from efficiency upgrades to advanced energy generation solutions. All projects are designed to enhance sustainability without requiring upfront capital investment.

About Kinsley Energy Systems
Kinsley Energy Systems (KES) provides cutting-edge solutions and services to address the country’s energy infrastructure and environmental challenges. KES is part of Kinsley Group—one of the nation’s premier on-site power providers for 60 years. Drawing on this legacy of excellence, KES focuses on solving ever-evolving energy demands with comprehensive solutions that enhance resiliency, reduce operational costs and lower carbon emissions.

KES is behind some of the country’s most successful sustainable on-site energy projects and brings Kinsley’s commitment to exceptional customer service to advanced commercial and industrial turnkey microgrids. With a strong energy solutions focus and decades of experience, KES is dedicated to helping businesses achieve their energy goals through sustainable, reliable, and innovative solutions.

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Media Contacts:
Mike Savage
Director of Business Development
RENEW Energy Partners
(802) 777-8205
msavage@renewep.com

Nathan Hardt
Market Engagement Manager
Kinsley Energy Systems
(959) 262- 4610 5
nhardt@kinsleyenergy.com

Icetec and RENEW Join Forces to Advance Decarbonization in Northeast

Partnership delivers comprehensive BESS and microgrid solutions through 3rd party funding

December 19, 2024 – Boothwyn, PA – Icetec Energy Services (Icetec), a market leader in cutting-edge energy optimization software, has partnered with RENEW Energy Partners (RENEW), an innovative provider of project funding and turnkey energy solutions, to develop, fund, and manage advanced energy projects. This collaboration delivers battery energy storage systems (BESS) and microgrids to enable energy intensive customers – including manufacturers, hospitals, data centers and universities – reduce costs, enhance resiliency and cut carbon emissions all without requiring upfront capital expenditure.

Specifically, RENEW evaluates each customer’s goals and energy needs to identify the technologies and efficiency measures best suited to achieving those objectives. Icetec then develops a model of the proposed systems savings, revenue, and carbon reduction using its full-stack energy management SaaS platform. RENEW installs and manages the assets, eliminating the need for the customers to allocate CAPEX by fully funding the project. Once operational, Icetec’s full-stack energy management SaaS platform optimizes the assets to maximize revenue and savings, while minimizing carbon. With high demand, the partnership has developed a pipeline of $100M in BESS and related projects.

Using predictive analytics and adaptive algorithms, Icetec’s platform enables coordination and optimization of revenue streams by serving as the lead market participant for ISO market programs, managing utility demand response programs as the Curtailment Service Provider, optimizing for state programs like the Clean Peak Standard, dispatching for on-site peak load reduction, and help to reduce a site’s carbon footprint. As an example, this partnership can help Northeast customers participating in Eversource territory save more than $250,000 per MW per year by using technology to intelligently dispatch BESS assets.

“RENEW’s mission to decarbonize and their impeccable customer success record make them an ideal partner for us to help the growing customer base throughout the Northeast achieve their building-specific energy targets and overall financial goals,” stated Matthew Wolfe, VP, Business Development, Icetec. “We are excited that our advanced energy management platform, designed to automate the dispatch of BESS and other DER assets, will be leveraged to make these market opportunities accessible to more companies.”

“Our Partnership with Icetec combines RENEW’s financial expertise and turnkey project delivery with the best technology platform to leverage distributed generation assets,” said Charlie Lord, Principal, RENEW. “Together, we’re not just helping customers lower costs – we are providing a seamless transition to meaningful decarbonization”

With more than 20 years of experience optimizing energy assets, Icetec’s full-stack energy management SaaS platform leverages predictive analytics to prioritize opportunities, such as reducing carbon, increasing savings, or boosting revenue. The platform uses its control engine, powered by adaptive algorithms to automatically communicate with energy systems and manage the corresponding asset, as well as handle ISO bidding, settling, and reporting.

About Icetec Energy Services

Founded in the early 2000s, Icetec Energy Services has consistently delivered innovative energy solutions to meet the growing global demand for sustainability. Starting off using freezers as batteries (hence, the name Icetec), the company has continuously evolved and advanced to offer a predictive analytics and optimization platform with a comprehensive tech stack for sophisticated DER management and microgrid deployment. Utilizing a big data infrastructure, Icetec Energy Services is able to automate plant dispatch, market bidding & settlement process, plant efficiency, and greenhouse gas reporting. Today, more than 200 MW are managed by its full stack energy management SaaS platform, spanning over 40 customers, including blue-chip clients in pharma, leading research universities, top C&I companies, and energy developers.

About RENEW Energy Partners, LLC

Founded in 2013, RENEW Energy Partners provides funding and engineering solutions for commercial and industrial, as well as institutional clients to help them achieve their decarbonization objectives. RENEW supports clients in reducing greenhouse gas emissions through a diverse range of projects, from efficiency upgrades to advanced energy generation solutions. All projects are designed to enhance sustainability without requiring upfront capital investment.

 

Renew Energy Partners Announces Launch of Fourth Investment Vehicle, Expands Relationship with Mitsubishi HC Capital America

Renew Energy Partners (“RENEW”) announced today the financing of its fourth investment vehicle—Renew Energy Efficiency Projects 4, (“EEP4”). The special purpose entity has executed a Master Revolving Loan and Security Agreement (MRLSA) with Mitsubishi HC Capital America, Inc. RENEW is the majority equity investor in EEP4. The special purpose entity will be used to fund a portfolio of projects including energy efficiency, combined cooling, heating, and power, distributed generation, micro-grids, battery energy storage, thermal storage, and electric vehicle charging stations for commercial, industrial and institutional customers. RENEW received a strategic growth investment from Greenbacker Capital in 2022.

Immediately following the execution of the MRLSA, EEP4 purchased a majority interest in EEP3—RENEW’s third investment vehicle which includes the MACOM microgrid project in Lowell, MA, the Isla Frio cold storage efficiency project in Puerto Rico, and $100 million of signed memoranda of understanding for future business.

“The launch of our fourth investment vehicle, coupled with the acquisition of assets from EEP3, allows RENEW to further pursue our mission of making it financially compelling to decarbonize the built environment as we continue investing in and now will own new projects going forward. Buildings are responsible for 40% of all energy use in the United States. In order to achieve national carbon reduction goals, decarbonizing the building stock is essential,” said Charlie Lord, Principal and Co-founder of RENEW.

“We’re proud to further develop our relationship with RENEW by establishing a credit facility for EEP4,” said Stéphane Arsenault, Senior Vice President of Sustainable Development Finance at Mitsubishi HC Capital America. “RENEW has a talented management team and strong equity support from Greenbacker Capital. This debt facility will boost RENEW’s ability to move efficiently and capture more share in this important market.”

The MACOM project is a combined cooling, heating, and power (CCHP) system at a semiconductor manufacturer facility. The CCHP system was coupled with a battery energy storage system (BESS) and a microgrid controller. EEP3 owns 100% of the assets and sells metered energy back to the client at a discounted rate. The microgrid system has resulted in a substantial reduction of carbon emissions, estimated at 1869 metric tons annually. This is equivalent to the electricity consumption of 339 homes for one year and the gasoline consumption of 24.7 tanker trucks.

The Isla Frio project in Cidra, Puerto Rico is a Viking Cold Thermal Energy Storage System which leverages existing refrigeration equipment in low-temperature facilities to freeze Phase Change Material (PCM) and create electricity arbitrage opportunities. Intelligent controls turn off refrigeration equipment during periods of high energy costs while the PCM maintains temperature stability and lowers overall energy consumption. Annual carbon reduction is estimated at 209 metric tons.

Renew Energy Partners, LLC (“RENEW”)
RENEW is a nationwide distributed generation, microgrid, and energy efficiency company that provides turnkey solutions for decarbonization. RENEW helps customers reduce carbon and greenhouse gas emissions with financially compelling solutions that activate projects including HVAC retrofits, lighting updates, building management system upgrades, and onsite clean energy generation and battery storage. Visit https://www.renewep.com

Mitsubishi HC Capital America (“Mitsubishi HC Capital America”)

Mitsubishi HC Capital America is a commercial finance company that has extensive capabilities throughout North America with its affiliate, Mitsubishi HC Capital Canada, combining a consultative approach and expansive digital platform to help organizations of all sizes accelerate growth. With $7.5 billion in assets and more than 800 employees, the company is the largest non-captive, non-bank commercial finance company in North America. Mitsubishi HC Capital America partners with equipment manufacturers, dealers and distributors, as well as end customers, in providing customized financial solutions, including transportation and commercial finance. Dedicated to improving the communities where it operates, the company is committed to the United Nations Sustainable Development Goals. Visit https://www.mhccna.com/en-us

Greenbacker Development Opportunities Fund I, LP
Greenbacker Development Opportunities is a middle-market private equity strategy that invests in growing sustainable infrastructure platforms serving high-value markets across the US. The strategy is managed by Greenbacker Capital Management, LLC. For more information, please visit https://greenbackercapital.com/greenbacker-development-opportunities

 

Contact Information:

Renew Energy Partners
Michael Savage
888-938-6256 x 703
msavage@renewep.com

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