Swiss battery maker Leclanché has said it is on track to hit a portfolio “milestone” of 100MWh of energy storage systems in operation this year despite racking up losses in 2017.
The company reported a CHF31.8 million ($31.7m) EBITDA loss in full-year results revealed on 4 May— compared to a loss of CHF28.4m in the previous year.
Leclanché said the revenue shortfall was due to previously announced funding delays in growth capital, “which impacted the delivery of a number of projects”.
However, the company said “funding is now secured, all projects are now being executed and the resulting lost revenues in 2017 will be generated and accounted for in 2018”.
CEO Anil Srivastava said: “We are well on our way to hitting the milestone of 100MWh of storage projects in operation by 2018. This is the result of a five-year growth plan with confirmed projects and partners worldwide in the fast-growing market of energy storage solutions.”
Meanwhile, the company said it was in “advanced joint venture discussions with partners in China and India for both product sales and high-volume production” for the energy storage market.
BBB reported earlier this year that Leclanché was set to build its first behind-the-metre battery storage systems in North America for Toronto-based energy storage project developer NRStor C&I.