Greenbacker Renewable Energy Company acquires energy storage system portfolio from Stem

The Greenbacker Renewable Energy Company has purchased a 7.9 MW/16.5 MWh portfolio of 16 operating and in-pipeline behind-the-meter energy storage systems from Stem, an artificial intelligence-driven energy storage service company. Each of the acquired systems will be a part of California’s Self Generation Incentive Program, aimed at a cleaner, distributed energy future. The programme offers rebates for installing energy storage technology at both residential and non-residential facilities. The entire portfolio is expected to be fully operational by the second quarter of 2021.

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