AMS Announces Solar and Storage Partnership with 38 Degrees North and John Hancock

PR Newswire
May 14, 2019

SAN FRANCISCOMay 13, 2019 /​PRNewswire/​ — AMS, an ener­gy man­age­ment ser­vices com­pa­ny with projects across the Unit­ed States, today announced the estab­lish­ment of a solar and stor­age ener­gy part­ner­ship with 38 Degrees North, and John Han­cock and its affil­i­ates.  38 Degrees North, along­side John Han­cock Infra­struc­ture Fund (“JHIF”), a pri­vate equi­ty fund with approx­i­mate­ly $2 bil­lion of com­mit­ted cap­i­tal and part of Man­ulife Invest­ment Man­age­ment1, and John Han­cock Life Insur­ance Com­pa­ny (U.S.A.) (col­lec­tive­ly, “John Han­cock”), a divi­sion of Man­ulife Finan­cial Cor­po­ra­tion have acquired an ini­tial set of four bat­tery and solar facil­i­ties in Cal­i­for­nia with rights to addi­tion­al projects in 2019 and 2020.  The par­ties designed the part­ner­ship to effi­cient­ly cap­i­tal­ize AMS’s util­i­ty bill sav­ings contract.

AMS’s unique finan­cial per­for­mance con­tract seeks to address cus­tomer con­cerns with tra­di­tion­al solar PPAs by pro­vid­ing a high­er degree of cer­tain­ty that sav­ings will be deliv­ered for the cus­tomer.  AMS’s AI soft­ware plat­form con­tin­u­ous­ly opti­mizes solar sys­tems, bat­ter­ies, and retail ener­gy rates to active­ly respond to evolv­ing ener­gy mar­ket con­di­tions and achieve the low­est ener­gy costs over the life of the system.

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