Energy storage developer and system integrator Energy Vault has successfully closed a US$18 million financing for its Cross Trails battery energy storage system (BESS) project in Scurry County, Texas, US.
In Texas, two companies, Energy Vault, recognised for its gravity energy storage technology, and Agilitas, known for smaller-scale projects in the Northeastern US, have put utility-scale energy storage projects in the state into operation.
Amendments to rules for battery storage state-of-charge (SOC) in the ERCOT, Texas, market are ‘an improvement’ to the current ones but will still impact the ability of batteries to provide ancillary services, Gridmatic has said.
US power marketer Gridmatic has launched a US$50 million fund it will put towards managing third-party battery storage assets, including covering collateral requirements, it told Energy-Storage.news.
