Developer Jupiter Power has announced US$70.4 million in loan financing for two battery storage projects in ERCOT, Texas, arranged by First Citizens Bank.

The co-founder of new US developer Granite Source Power (GSP) discussed its for-sale 2GW ERCOT BESS pipeline including a large, 500MW project near Houston, and why it entered the market.

BESS projects in ERCOT, Texas, will be hit by a double whammy of market saturation and new rules around minimum state-of-charge (SOC), as the technology helps the state battle a severe heatwave.

Investing in numerous smaller grid-scale energy storage projects minimises downside risk and can mean getting projects in the ground two years’ quicker, developer Agilitas Energy told Energy-Storage.news.

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.

Eolian has taken the amount of financing it has raised in just three years since founding to more than a billion-and-a-half-dollars.

Energy-Storage.news caught up with Energy Vault CEO Robert Piconi to primarily discuss its gravity-based energy storage solution which, putting it mildly, has its fair share of sceptics.

Some 710MW of battery storage came online in the US in the first three months of the year, of which around 70% was in the ERCOT, Texas market, S&P Global said.

The energy storage arm of PV module giant Canadian Solar will supply 363MWh of its battery energy storage systems (BESS) to developer Aypa Power for a project in Texas.