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.
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.
Developers in the US plan to install 15GW of new utility-scale battery storage, adding to about 16GW of storage installed so far, according to government statistics.
China-headquartered energy storage system integrator and manufacturer CL Energy Storage Corporation (CLOU) has won an order in the US for “approximately” 480MWh of battery storage equipment.
US battery storage developer Key Capture Energy has sold investment tax credits (ITCs) for battery energy storage system (BESS) projects in New York and Texas, using new transferability rules.
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.
