This is your SolarWakeup for January 18th, 2023

Nextracker Goes Public. This isn’t a surprise to readers of SolarWakeup, I called this shot almost two years ago when the mad rush for tracker IPOs was hitting the market. With the S-1 we have some additional information including the 3.1billion dollar valuation that TPG invested in last year. Having written thousands of columns over the past 10 years, it’s nice to have my predictions on the record especially when they’re right. You can see the full filing on the first link and I send my congratulations to my friends Shug and Howard Wenger leading another solar success story. This also marks a victory for TPG’s Rise Fund who should see at least a 2x on their investment depending on valuation but analysts expect at least $6.5billion based on comparable public peers.

Batteries At Gas Plants. Yesterday, FlexGen announced that we will be providing our services to Middle River Power as they build 4 stand alone batteries at existing natural gas plants. These batteries will add to MRP’s capabilities in CAISO using the FlexGen operating system that ensures the batteries turn on and stay on. The interesting aspect of this is about where these batteries will go and where they’ll go on a global market basis. Basically every point of connection on the grid will have or could use some version of energy storage. Power plants, substations, homes and businesses are points in the grid that need some elasticity. The key is to have durable batteries matched with the digital controls and operating system that make it work the way you want and that’s what FlexGen does.

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Opinion

Best, Yann