AES Invests USD 8.6M in 5B To Accelerate Transition To Solar Energy

- Advertisement -
  • The investment in solar Innovator 5B enables deployment of solar 3x faster and with twice the energy from the same land
  • AES would benefit from the use of 5B’s MAVERICK technology across many of the projects in its expected 2 to 3 GW of annual renewables growth
  • Together, AES and 5B will help clients accelerate their use of solar energy

According to a report, AES Corporation has made a strategic investment of around USD 8.6 million in 5B, a solar technology innovator based in Sydney. 5B’s revolutionary MAVERICK design benefits customers to add solar resources at a pace which is three times faster while providing up to two times more energy within the constant footprint of traditional solar facilities. The partnership would help clients accelerate their use of solar energy.

The MAVERICK design allows companies to make a transition more quickly while using less land. This design is a pre-wired, prefabricate solar solution which is folded up, shipped to the site and rolled out. The 5B approach makes it easier in engineering, procurement and construction for ground-mounted solar facilities. It also helps in removing common barriers for organisations to deploy solar resources, including the availability of land and ground penetration , thus making it possible in more places while providing the flexibility to easily relocate the resources in some applications.

Andres Gluski, President and CEO of AES said “Solar is the most abundant clean energy source in the world, and 5B’s innovative design provides twice the energy for any given area”. He also added that a project which used 5B’s technology could be built in a third of the time when compared with conventional solar. These denotable advantages would help meet the growing needs of the customers in today’s ever changing environment.

- Advertisement -

Vision for a clean energy future

According to the report, AES plans to benefit from the use of 5B’s MAVERICK technology across many of the projects in its expected 2 to 3 GW of annual renewables growth.  AES Panama would fats track the delivery of a 2 MW project utilising the MAVERICk solution. In Chile, AES Gener will deploy 10 MV of Maverick technology as a part of the expansion of its Los Angles solar in the Atacama Desert in the north.

Chris McGrath, 5B’s Co-founder and CEO shared that 5B has delivered the speed and efficiency benefits of our Maverick Solution in the Australian market. Now AES is bringing its strength to bear as we scale our solution globally. He also added “AES shares our vision for a clean energy future. Our Maverick solution is defining the next generation for solar power and the true potential of solar power in terms of how fast, simple, flexible and low cost it should and will be.”

The firm has also announced that it has, through its wholly-owned subsidiary, AES Brasil, agreed to acquire an 18.5 percent economic interest in AES Tiete from BNDES Participacoes. Once the transaction closes, AES will own 42.85 percent of the shares of the Brazilian renewable energy firm which has 3.7 GW of renewable generation in operation or under construction, consisting of 2.7 GW of hydro, 708 MW of wind and 310 MW of solar.

- Advertisement -

Most Popular Articles

Infineon, Stellantis Partner To Advance Next-Gen Vehicle Power

0
With a dedicated Joint Power Lab and secured supply agreements, the partnership is set to drive transformative advancements in EV performance, cost-effectiveness, and the...

Audi Launches New EV Brand In China, Drops 4-Ring Logo

0
On Thursday, Audi introduced a new electric vehicle brand in China, branding the cars solely with the name 'AUDI' instead of its traditional four-ring...
IIT Bhubaneswar

IIT Bhubaneswar Partners MOSart Labs To Boost Engineering Skills In Chip Industry

0
The aim is to help students with essential skills in areas such as very-large-scale integration (VLSI), semiconductor technology, analog and digital design, validation, and...
Jaguar concept EV

JLR Highlights Its Biggest Reinvention With The Concept Car Jaguar Design Vision

0
The four-door GT is anticipated to be Jaguar's most powerful model to date. Its targeted range is approximately 430 miles (700 kilometers), and its...

ISE Labs Expands With New OSAT Facility In Mexico

0
Turbocharging its growth in North America’s tech hub, ISE Labs is set to build an OSAT semiconductor facility in Jalisco, Mexico, eyeing to create...

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...

“Government Policy Should Equitably Address All Electric Vehicles: Extend Subsidies To Retrofits Or Remove...

0
Aryaman Raghuvanshi from EFY engages with Pramod Narendra, Head of Brand Management and Retail Network at Starya Mobility, to explore the overlooked potential of...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Learn From Leaders

Startups