Battery storage developer and operator Spearmint Energy has closed a US$92 million tax equity investment into a battery storage project in the ERCOT, Texas market.
Developers Spearmint Energy, On.Energy, Nexus Renewables and Granite Source Power have collectively secured US$300 million for US battery storage projects, the bulk by Spearmint.
Financial performance will ultimately determine the success of AI-based battery storage optimisation platforms, Gridmatic told Energy-Storage.news in response to recent comments from one developer.
US battery storage developer and long-term management firm Spearmint Energy is “a little bit distrustful” of the “black box” of optimisation, its head of trading told Energy-Storage.news.
Developer Spearmint Energy has acquired a portfolio of battery energy storage system (BESS) projects totalling 900MW in the ERCOT, Texas market, set to come online in 2025.
