EnSync, Inc., a leading developer of innovative distributed energy resource (DER) systems and internet of energy (IOE) control platforms for the utility, commercial, industrial and multi-tenant building markets, announces the sale of a power purchase agreement (PPA) for an apartment complex in Oahu, Hawaii.
The 300-kilowatt EnSync Energy system will provide electricity to the complex at a contracted price for the 20-year term of the power purchase agreement. Revenue will be recognized in the coming quarters based upon completion of project milestones.
"We're pleased to have sold this project which incorporates EnSync Energy's PPA business model, products and services," said Brad Hansen, CEO and President of EnSync Energy Systems. "This project sale closely follows the sale of the 120-unit building PPA project announced earlier this week. We are very excited by our ongoing progress in the Hawaiian market."
EnSync Energy continues to successfully develop, engineer and commission projects in the Hawaii market, and is a pioneer in the Hawaiian market for solar-plus-storage DERs, with projects operating on a number of islands comprising the state of Hawaii.
Through its innovative DER Flex™ IOE platform, EnSync Energy's DER installations are available to participate in a myriad of utility and ISO grid services, including applications such as supply response on demand.
EnSync | http://www.ensync.com