Gridstor, a developer of standalone battery energy storage system (BESS) assets, has acquired a 450MW/900MWh project in Texas, US, the company’s first in the booming ERCOT market.

A roundup of US battery storage project financing news from this week, with deals struck by SMT Energy and UBS, Plus Power, as well as CleanCapital and Available Power, covering over 1GW of projects.

Multinational utility and IPP RWE has completed three co-located battery energy storage system (BESS) projects in the US, totalling 190MW/360MWh, with another 2GWh-plus under construction.

Blackstone and Foss & Company have completed transferability investment tax credit (ITC) deals for BESS projects in California and Texas, a market which has grown “faster than anyone expected” according to tax credit ecosystem Crux.

This week’s Friday Briefing is largely concerned with the UK’s current period of low revenues for battery storage and how the market can move forward.

The Public Utility Commission of Texas has ordered the state’s grid operator ERCOT to rescind state-of-charge (SOC) rules requiring batteries to hold additional capacity to provide ancillary services.

Battery storage developer and operator Spearmint Energy has brought its first major project online in the ERCOT, Texas market.

Developer-operators Jupiter Power and On.Energy have secured a combined c.US$100 million in project financing for standalone battery energy storage system (BESS) projects in the ERCOT, Texas market.

Utility and IPP Engie has commissioned a 100MW/100MWh battery energy storage system (BESS) while Gore Street has enlisted Nidec as EPC partner for a 75MW project, both in the ERCOT, Texas market.

Investors SUSI Partners and SMT Energy have added 10 BESS projects in the ERCOT, Texas market, building on an already-operational 100MW portfolio in the state.