Fully integrated BESS developer On.Energy leverages a combination of system integration and in-house financing and procurement expertise to cover the full value chain of US front-of-the-meter projects.
The US battery storage market is in a rapid growth phase and becoming increasingly competitive, creating an increasing need for sophisticated technologies and a deeper understanding of markets.
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Yet players who fully cover project development, system integration, technology innovation, and investment in asset ownership are rare.
That’s a fully integrated approach that On.Energy, headquartered in Miami, Florida, has embraced, and it overcomes many of the limitations of more traditional business models in the sector.
Founded in 2015 by friends Alan Cooper and Ricardo de Azevedo, On.Energy is focused on distributed utility-scale battery energy storage system (BESS) project portfolios.
Cooper and de Azevedo bring complementary skills and a shared passion for energy transition. They identified energy storage as a clear opportunity and set out to deploy integrated BESS projects in select Latin American markets.
After success as an energy storage developer and integrator of solutions for many blue-chip corporate customers, utilities and independent power producers (IPPs), the company has been able to raise more than US$250 million in corporate and project-level capital which it has deployed in its own portfolios of projects in the US.
Largely enabled by their CFO David Fernandes’ ability to structure project finance for these portfolios, On.Energy is bringing a uniquely unified and holistic skillset to the US market.
Distributed utility-scale portfolio aggregation
Currently, On.Energy focuses on distributed utility-scale portfolios, aggregating projects ranging from 5 to 50MW with 1-hour to 4-hour storage duration. This approach offers advantages such as faster interconnection times, diversified revenue streams, reduced individual development and construction risks, and a less competitive landscape.
The company leverages its in-house resources—including development, integration, energy management systems (EMS), and software—to effectively aggregate these smaller projects into bankable, scalable, and replicable portfolios.
On.Energy operates under two distinct business models:
1. As an integrator and EPC, selling solutions to generators, third-party developers, and large corporate customers, with a focus on replicable large commercial and industrial (C&I) projects, particularly in critical infrastructure and data centres. Key markets include Texas, Colorado, Mexico, and Chile, as well as Colombia, Honduras, and Peru.
2. Utilising its technical competencies to develop, build, own, and operate portfolios of projects predominantly in front-of-the-meter in select US markets.
The company has a project pipeline of over 1.5GWh, with 320MWh currently operating or under construction and another 700MWh expected to be operational by 2026.
Diversification from Latin America into US market
The company’s expansion into the US market is driven by overall market size, growth potential, and project returns. In other words, by opportunities that On.Energy is very well-positioned to capture.
Researchers and analysts at Wood Mackenzie and BloombergNEF have forecast rapid growth of the US energy storage market. With new offices in Houston and San Francisco, alongside an expanded HQ in Miami, On.Energy is ready.
Financing and project technology expertise
For its US ownership projects, On.Energy maintains an approximately 80% stake in the projects it develops and builds. The company has successfully completed several rounds of corporate equity and debt financing to support the construction of its project pipeline and fund project equity.
It has also established a fully operational credit department that effectively navigates the complexities of project financing.
Perhaps On.Energy’s secret sauce really lies, however, in the fact that it combines the duties of developer and BESS system integrator on its projects.
“We recognise and prepare for the complexities associated with project commissioning and early operations,” says CEO Alan Cooper.
“Our experience has taught us both the value and limitations of original equipment manufacturers (OEMs) in supporting project deployment. We possess a comprehensive view of the supply chain, enabling us to make informed purchasing decisions while remaining flexible in our technology choices. We understand the critical importance of in-house storage expertise.”
Proprietary EMS with over 100 years’ runtime is paired with smart hardware solutions
On.Command™ is On.Energy’s proprietary energy management system (EMS), designed to optimise the performance and reliability of energy storage assets.
With a decade of development and over 100 years of combined runtime, it provides detailed monitoring and control, capturing second-by-second data across all system variables. This capability enables predictive maintenance and rapid issue resolution, supporting maximum asset availability.
“Our in-house development team can quickly adapt algorithms, interfaces, and controls to meet specific market needs,” says Ricardo de Azevedo, the company’s Chief Technical Officer and co-founder.
“Additionally, On.Command™ offers comprehensive data analysis and reporting on system efficiency, performance, and economic impact for both end-users and internal teams.”
Its advanced software capabilities allow for seamless integration with specialised hardware and custom balance-of-plant solutions not typically found in the market. One example is the Always.On solution—a medium-voltage industrial uninterruptible power supply (UPS) that functions as a microgrid, integrating renewables, on-site generation, and long-duration storage.
This solution combines energy efficiency, peak shaving, and energy arbitrage/load shifting. It ensures optimal power quality for industrial and critical infrastructure clients while providing a cost-effective solution that pays for itself through savings.
On.Energy: Ready to meet challenges and find high quality partners
The commercial & industrial (C&I) energy storage segment with which On.Energy made its name in Latin America is a tough nut to crack in the US due to high interest rates and the challenge to capitalise on available tax credits for projects of that size range. The US grid-connected space is a different matter.
With 97% of all new power generation in the US interconnection queue being variable renewable generation (VRE) sources, the grid will require substantial storage capacity.
The impact of the AI boom on projected load growth is also driving rapid demand for power in the US and beyond.
Meanwhile, coupled with historically long interconnection queues, there is potential for a resurgence in onsite self-generation, highlighting the critical role storage can play alongside conventional, renewable, and grid generation sources.
“We are seeking offtake partners for our projects, including Community Choice Aggregators (CCAs) in California, as well as small and mid-sized utilities across the US,” Alan Cooper says.
“On the capital markets side, we are looking for equity partners, credit solutions, and developers interested in flipping projects into a group that can facilitate financing, construction, and operations.”
For more information visit On.Energy’s website.
