The AES Corp., a global power company, has made a strategic investment in 5B, a solar technology innovator based in Sydney, Australia.
5B’s MAVERICK design enables customers to add solar resources at a pace that is three times faster while providing up to two times more energy within the same footprint of traditional solar facilities. Together, AES and 5B will help clients accelerate their use of solar energy.
The total global investment in the solar energy market between 2021-2025 is projected to reach $613 billion as companies transition to greener sources of energy. 5B’s MAVERICK design enables companies to make that transition more quickly and while using less land.
The MAVERICK design is a pre-wired, prefabricated solar solution that is folded up, shipped to site and rolled out. The 5B approach streamlines engineering, procurement and construction for ground-mounted solar facilities. MAVERICK also removes common barriers for organizations to deploy solar resources, including the availability of land and ground penetration, making solar possible in more places while providing the flexibility to easily relocate the resources in some applications.
“Solar is the most abundant clean energy source in the world, and 5B’s innovative design produces twice the energy for any given area,” says Andrés Gluski, president and CEO of AES.
“In addition, a project using 5B’s technology can be built in a third of the time when compared with conventional solar. These significant advantages will help us meet our customers growing needs in today’s ever changing environment,” he adds.
AES will 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. This year, AES Panama will fast-track the delivery of a 2 MW project utilizing the MAVERICK solution. In Chile, AES Gener will deploy 10 MW of MAVERICK technology as a part of the expansion of its Los Andes solar facility in the Atacama Desert in the north of the country.
Following a $8.6 million investment round that included AES, 5B joins a growing portfolio of energy technology platforms in which AES has made strategic investments. AES had a foundational role in the creation and growth of the energy storage market through Fluence, its joint venture with Siemens. Today, Fluence is the largest grid-scale battery energy storage solutions company in the world.
AES is also collaborating with Uplight, a digital customer energy platform in the U.S. AES’ strategic collaborations with and investments in these companies have helped them to accelerate the future of energy.