Developer Redeux Energy Partners has enlisted Marathon Capital to sell a solar and storage portfolio with 160MW/640MWh of battery storage in the MISO and SERC grid territories.
Redeux has appointed Marathon to sell up to 100% of its equity in the portfolio, which comprises 11 projects across seven states in the territory of SERC, one of the US’ six Reliability Corporations responsible for the US grid, and MISO, one of three regional authorities which delegates its authority to.
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Redeux didn’t specify how the capacity splits out between the projects but said the portfolio totals 1.7GWdc of solar PV and 160MW/640MWh of battery storage capacity, and that it is aiming to close a transaction by December 2023.
SERC and MISO collectively cover 21 states in the Southeast and Midwest US: Alabama, Arkansas, Georgia, Michigan, Minnesota, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Illinois, Indiana, Iowa, Kentucky, Louisiana, Oklahoma, Virginia, Florida, Wisconsin, South Dakota and the portion of Texas not operated by ERCOT.
The list of states is noteworthy in that it does not include any of the US’ leading markets for energy storage, which are California and Texas’ ERCOT-operated market, followed by a handful of Western states like New Mexico, Nevada and Arizona, as well as New York.
Redeux has a 3.5GW project pipeline across 15 states including standalone battery storage in ERCOT, it added, with a total of 15 states covered by its projects and aims to increase that to 5GW by year-end.
Marathon Capital was also recently appointed by another developer, Granite Source Power (GSP), for a 2GW battery storage portfolio sale entirely in the ERCOT, Texas market. GSP partner Jessica Shor discussed the portfolio with Energy-Storage.news in an interview at the time.
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