February 4 (Renewables Now) - The infrastructure and power strategy of Ares Management Corporation (NYSE:ARES) has teamed up with Dimension Renewable Energy to develop an energy storage portfolio in New York State with a potential size exceeding 300 MW/1,200 MWh.
Ares Infrastructure and Power and Dimension will work together on utility-scale projects located across the state, including on Long Island. The schemes are currently under development by Dimension, which has originated more than 200 MW of solar and over 1 GWh of energy storage throughout the US since it was established in 2018.
The asset manager said it will acquire the said projects upon completion of certain development milestones and then execute the construction stage.
This is Ares Infrastructure and Power’s third battery storage investment to date, it added.