Apex Clean Energy secures US$150 million for ERCOT projects with Q3 COD

LinkedIn
Twitter
Reddit
Facebook
Email

Renewable energy developer and operator Apex Clean Energy has completed a US$150 million financing with First Citizens Bank for two ERCOT, Texas, battery energy storage system (BESS) projects.

First Citizens Bank was sole bookrunner and co-lead arranger on the financings for the 100MW/200MWh Great Kiskadee Storage in Hidalgo County and the 100MW/200MWh Angelo Storage project in Tom Green County.

Both projects are anticipated to have commercial operate date (COD) in the third quarter of 2024.

Great Kiskadee Storage is owned by SA Grid Solutions, a joint 40:60 venture between Apex and two companies that are part of the South Korean SK Group conglomerate, SK Gas and SK D&D.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Oregon-based system integrator Powin is providing the BESS equipment for the two projects, announced in March 2023. Powin and Apex have are also partnering on another project in Texas, for Ingka Investments, the parent company of furniture retail chain Ikea, called Cameron Storage.

ERCOT is the second-largest BESS market in the US after California with around 9.5GW of grid-scale capacity expected to be online by October 2024. A substantial and lucrative ancillary services market has driven investment into the sector, although those markets are beginning to saturate as Energy-Storage.news recently reported (Premium access).

Major recent BESS news from ERCOT includes a 730 MW portfolio optimisation deal between Habitat Energy and UBS Asset Management, oil and gas giant Equinor launching 220MWh of projects and developer-operator Agilitas raising US$100 million debt for its pipeline.

2 December 2025
NH Collection Vittorio Veneto, Rome, Italy
Across two packed days, the Summit focused on three core themes: revenue & trading, the lifecycle of the battery, and optimisation tools. Attendees explored innovative strategies for enhancing asset performance and longevity, with a spotlight on key markets like Germany, Italy, and the UK. Stay tuned for details on the 2025 edition of the Battery Asset Management Summit Europe, where we’ll continue to chart the path forward for energy storage asset management.

Read Next

August 4, 2025
Utility Georgia Power has requested certification from the Georgia Public Service Commission (PSC) for 9,900MW of new generation resources.
August 1, 2025
Renewable energy developer-operator Arevon Energy has begun construction on the 300MW/1,200MWh Nighthawk Energy Storage Project in Poway, California, US.
August 1, 2025
Sodium-ion battery energy storage system (BESS) startup Peak Energy has launched and shipped its first sodium-ion BESS to be deployed in a shared pilot with nine utility and independent power producers (IPPs).
July 31, 2025
Clean energy owner-operators Apex Clean Energy and esVolta have commissioned and put into commercial operation BESS projects in the ERCOT, Texas market, while second life BESS firm B2U has started building one in the state.
July 31, 2025
We look at which BESS suppliers have supplied which UK project owner-operators, with data from our Market Research colleagues.

Most Popular

Email Newsletter