Leclanché wins $28.9m order for Canada’s largest battery project

Leclanché wins $28.9m order for Canada’s largest battery project

Leclanché (SWX:LECN), a Swiss-based energy storage solution provider announced it has secured a US$28.9 million purchase order for Canada’s largest energy storage project, The Hecate Canada Storage II. 

The firm will deliver one of the world’s largest stationary storage systems to Independent Electricity System Operator (IESO) in Ontario.

The purchase order, which includes the primary battery and power conversion equipment, is part of the previously announced $45 million project construction opportunity managed by Leclanché.

The Swiss company was also awarded a $6 million credit insurance policy from a Swiss government sponsored insurance company, Swiss Export Risk Insurance (SERV). The insurance policy will provide additional funds to impact growth cash needs.

“Our strategy and execution proves that in today’s economic environment, Swiss industrial companies can successfully compete globally in high-technology and fast growth markets to deliver value,” said Anil Srivastava, Leclanché’s CEO. “The Company is building upon investments already made and scaling up its operation to deliver between 150MWh to 200MWh of industrial grade energy storage systems in 2017.”

The order is Leclanché’s first major North American project. After installation, the 53MWh project will be distributed across six different sites and will be the largest operating battery project in the world.

@RGNOnline