It's only a matter of time before capital markets set their sights on Canada's energy storage (ES) industry.
"Energy storage in Canada has achieved commercialized scale arena with lots of bankable solutions emerging," says Jeremy Goertz, vice-president of construction and business development at Baden, Ont.-based Saturn Power Inc., Canada's largest solar-energy developer, which has recently diversified into battery ES systems. "The market is beginning to take off."
According to Navigant Research, the world's ES market was expected to increase from $1.3-billion in 2016 to $16.5-billion in 2024. With giant electronics players and the oil companies increasing their involvement exponentially, it won't be long before Canadian energy storage companies become M&A targets, particularly as attractive targets in markets such as Europe are becoming increasingly scarce.
Lexpert contributor Julius Melnitzer reports at www.lexpert.ca.
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