Developer and operator EsVolta has secured a US$185 million senior secured credit facility for its US battery energy storage system (BESS) project pipeline.
BESS price falls have pushed many marginal projects in merchant markets into a rate of return needed for investment, US developer Available Power told Energy-Storage.news amidst the sale process for its own 100MW/200MWh ERCOT project.
The issue of ensuring reliability of BESS resources in the Texas electricity market has not gone away for grid operator ERCOT, despite the state regulator’s recent quashing of proposed minimum state-of-charge (SOC) rules.
Battery storage developers and operators discussed the challenges and opportunities in the US market, on the first day of Solar Media’s Energy Storage Summit (ESS) USA 2024.
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.
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.
