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Press Release

Borrego Signs Agreement with Gotion High-Tech to Supply Energy Storage Equipment for Utility-Scale Projects

Published by Todd Bush on September 15, 2022

SAN DIEGO, Sept. 15, 2022 /PRNewswire/ -- Borrego, a leading EPC and O&M provider for large-scale solar and energy storage projects throughout the United States, announced today that it has entered into a master supply agreement (MSA) with Gotion High-Tech, one of the world's leading battery and energy storage system manufacturers. The supply deal will provide Borrego with gigawatt-hours of secure, fixed-price volume capacity of Gotion's DC block storage equipment, which will be available for customer delivery starting in 2023.

Gotion is a global tier-one vertically integrated stationary and EV battery and storage system manufacturer, with multi-gigawatt-hour production capacities. The company's product line includes both liquid- and air-cooled UL-certified modular storage solutions featuring advanced lithium-iron phosphate (LFP) battery technology. Gotion's U.S. headquarters and R&D facility are in Silicon Valley, and it has more than 100 megawatt-hours of storage systems installed in a variety of applications across the country.

"This MSA with a prestigious brand like Gotion helps Borrego continue to grow its supply of energy storage equipment from top-tier manufacturers," said John duPont, vice president of business development and operations at Borrego. "We have a multi-gigawatt-hour vendor pipeline of storage products at fixed pricing available for utility and distributed generation projects requiring delivery in 2023-2025. This locked-in capacity will help our customers avoid expected supply chain constraints when the Inflation Reduction Act kicks in."

"Gotion is looking to expand both its energy storage and U.S. market footprints, and finding a trusted partner like Borrego will help us achieve our goals," said Vikash Venkataramana, vice president of energy storage systems at Gotion. "We look forward to building a long-term relationship with Borrego as both companies play major roles in accelerating the clean energy transition."

U.S. energy storage deployments are forecast to surge to 600 GWh by 2031, according to Wood Mackenzie's recent Global Energy Storage Outlook. Average annual installations of stand-alone and solar-plus-storage systems are expected to reach 54 GWh through 2031.

About Borrego

Borrego, a leading EPC and O&M provider, accelerates the delivery and ensures the proper maintenance of large-scale solar and energy storage projects in the US. Borrego has a track record of superior performance in the hundreds of large solar and energy storage projects it has designed, built, and currently maintains nationwide. Established in 1980, it has regional offices in California, Massachusetts, and New York with a nationwide footprint. Borrego creates value by helping partners make better decisions at critical points in every project's life. Its team brings deep technical expertise to its mission of solving the world's energy problems. For more information, visit borregoenergy.com. For more information on its new Anza business that transforms solar and energy storage procurement through its online marketplace, visit anzarenewables.com.

About Gotion High-Tech

Gotion High-Tech is one of the world's leading battery manufacturers with global R&D and multi-gigawatt-hour production capabilities. Gotion has a fully integrated supply chain from sourcing lithium to building complete energy storage solutions. With global factories and backing from majority shareholder Volkswagen, Gotion is expanding manufacturing with planned production facilities in the U.S. Gotion has R&D and product development teams in the U.S, to support its EV and energy storage system (ESS) business. Gotion's range of products for ESS includes battery cells, packs, racks and containerized turnkey AC/DC ESS solutions. Gotion offers both liquid- and HVAC-cooled DC block solutions for the U.S. market. For more information, visit www.gotion.com.

SOURCE Borrego Solar Systems Inc

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