The EU is aiming for a renewable energy generation mix of 45% by 2030. Image: Pietro Naj-Oleari/Flickr.

Europe will need a total of 187GW of energy storage by 2030 and 600GW by 2050 to meet its renewable energy targets, according to the European Association of Energy Storage (EASE).

The 2030 figure was first published last month while the target for 2050, when the continent’s renewable mix is expected to reach 85%, is an entirely new forecast. The 600GW is part of a total of 811GW of flexibility capacity needed, with the rest made up of gas turbines.

Of the 187GW, 65GW will be pumped hydro energy storage (mostly already existing today), 67GW of battery storage and other short duration solutions, and 55GW of energy storage from longer-duration batteries and other energy storage solutions.

The organisation said that storage uptake on the continent is lagging behind renewable energy resource and that the EU risks being unable to integrate new renewable energy resources. As reported in last week’s webinar conducted by research firm Delta-EE in collaboration with EASE, covered by Energy-Storage.news, deployment needs to ramp up to 14GW a year to hit the 2030 goal.

EASE added that many studies on the topic so far, which give lower targets, have undervalued ‘energy shifting resources’ and overvalued greenhouse gas-emitting baseload plants. It also said system modelling needs to take into account future cost reductions for new long duration technologies, and a failure to do this often means these technologies are left out of long-term forecasting.

The organisation split the 600GW energy storage deployment target for 2050 into two buckets in its report. The bulk, 435GW, needs to be bi-directional contribution from ‘Power-to-X-to-Power’ solutions, while the remaining 165GW can be provided by ‘power-to-X’ technologies providing one-directional system flexibility, defined next and visualised below.

Power-to-X-to-Power comprises most energy storage technologies meaning something which can both be charged with and dispatch electricity. Power-to-X means electricity which never goes back into the system, and covers technologies like electrolysers which produce green hydrogen that is not reconverted into electricity, converting electricity to heat for industrial use, and V1G charging of EVs.

Image: EASE.

Interestingly, the report also gave an idea of at what level of renewable energy mix EASE reckons long-duration technologies will be needed. It said that a renewable energy mix of up to 60% can be managed with hourly energy storage, defined as under 10 hours duration. Beyond that, there is a sharp increase in the need for more daily and weekly storage while past 80% the need for seasonal storage becomes ‘critical’.

The EU is targeting a 45% renewable mix by 2030, as per the recent REPower EU strategy, although EASE said this will easily be exceeded by many countries. It cites Spain’s 20GW by 2030 and 30GW by 2050 targets.

EASE’s report also provided the following useful infographic on which different energy storage technologies were applicable for which energy system services. Its authors highlighted the massive need for thermal energy storage, considering that half of energy in the EU is used for heating and cooling, and the relatively limited studies evaluating applicable technologies.

Image: EASE.

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Saticoy, a 400MWh California BESS project onboarded to Power Factors’ ‘Drive’ platform. Image: Arevon Asset Management.

Inaccess, a UK-headquartered renewable energy software platform provider which has worked on some of the world’s biggest battery storage projects, has been acquired by San Francisco-headquartered renewables software company Power Factors.  

Inaccess specialises in digital infrastructure management solutions for assets including wind, solar, battery storage, virtual power plants and telecoms sites.

In battery storage, it has supplied solutions including energy management systems (EMS) and SCADA technology to two of the biggest solar-plus-storage projects in California, helping control the batteries’ charging and discharging as well as their interaction with the solar PV.

The company’s ‘Unity’ power plant controller platform for energy storage can manage the participation of battery assets in market opportunities for frequency response, capacity markets, real-time trading and more while also managing state of charge (SoC) and other metrics of the assets’ operation.

At one of those California sites, for example, a 300MWac solar plant is paired with a 140MW/560MWh battery project. However, the project owner has signed power purchase agreements (PPA) with a number of different offtakers.

That means the plant’s output and performance needs to be sub-divided in several different portions. Inaccess’ EMS controls each of these separate ‘sub-plants,’ coordinating the battery energy storage system (BESS), PV plant and reactive power production.

Functions it performs include energy shifting, SoC management and balancing, ramp rate control for the PV plant as well as frequency and voltage support at both whole-system and sub-plant levels.

At another large-scale California project, a 75MW/300MWh lithium iron phosphate (LFP) BESS has been retrofitted to a 100MWac/134MWdc PV plant.

Again, at that site, the Inaccess EMS controls the power conversion system (PCS) and battery containers to provide a wide range of functionality, from ramp rate control to energy time shifting and SoC management, but also crucially enables reporting of key performance indicators (KPIs) to help the project owner meet performance guarantees for customers on reliability, safety and output.

Customers demand advanced digital solutions

In a press release last week, Power Factors noted that particularly as renewable energy deployment moves away from subsidies to a more “dynamic, market-driven environment,” technologies that can closely monitor and control both an asset’s performance in the markets as well as on a technical level will be crucial.

The acquisition, for an undisclosed sum, will offer the ability to connect Inaccess’ EMS, SCADA and power plant controller technologies with the US company’s asset performance management solutions, Power Factors said, unlocking new revenue opportunities for customers.

In a Guest Blog for Energy-Storage.news published last August, Power Factors co-founder Steve Hanawalt argued that the uptake of digital asset management software for battery storage had lagged behind that of the wind and solar sectors.

However, Hanawalt wrote, customers and investors are increasingly demanding higher levels of digitalisation and rich data in storage too.

“As battery storage enters its next growth phase and gains more investors, a higher quantity and quality of data is crucial to maintain momentum,” Hanawalt wrote.

“Asset managers and operators have a unique opportunity to capitalise on innovation and lessons learned in wind and solar, hitting the ground running in their adoption of digital asset management systems.”

Power Factors’ co-founder contributed that blog a few months after the successful commissioning in May 2021 of Saticoy, a 100MW/400MWh BESS project in California by Arevon Asset Management. Saticoy is onboarded to Power Factors’ then newly-launched battery storage performance data platform, Drive.

Inaccess has onboarded its platforms to about 35GW of projects across different technologies in more than 60 countries. Meanwhile the acquisition will mean its new owner Power Factors has nearly 200GW of wind, solar, hydro and energy storage assets globally under management.

“The vision of linking plant insights to trading and real-time controls is among the most exciting area of the renewables market today. Open, smart, and autonomous tightly integrated tools will be required with the ever-increasing penetration of renewables onto the grid,” Power Factors CEO Gary Meyers said.

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Florida Power & Light’s 409MW/900MWh Manatee Energy Storage Center, under construction. Paired with a solar PV plant, the battery storage went online a few months ago. Image: Florida Power & Light.

NextEra Energy has announced its new decarbonisation strategy, dubbed Zero Carbon Blueprint, which includes eliminating all scope 1 and 2 emissions from its operations by 2045 without the use of carbon offsets.

Reaching the “Real Zero” goal, which NextEra has described as “the most ambitious carbon emissions reduction goal ever set by an energy producer”, will require “significant investment” in wind, solar, battery storage, nuclear, green hydrogen and other renewable sources, the company said in a statement.

It said the Real Zero target was dependent, however, on “no incremental cost to customers relative to alternatives” and its efforts being “supported by cost-effective technology advancements and constructive governmental policies and incentives”, despite its old CEO saying government support such as the Build Back Better bill was not essential to its goals.

The company has set interim milestones every five years to help support its progress to Real Zero, with it planning to reach a carbon emissions reduction rate of 70% by 2025, higher than its previously commitment. This would then increase to 82% in 2030, 87% by 2035 and 94% by 2040, before hitting Real Zero no later than 2045.

The US utility also said that on top of its internal Real Zero goal, the Zero Carbon Blueprint will seek to help decarbonise more of the US power sector through investments in renewable technologies as well as targeting a broader decarbonisation of the US economy.

A “significant portion” of the strategy will be delivered at NextEra’s subsidiary Florida Power & Light Company (FPL), which the parent company said was the US’s largest electric utility serving over 12 million Floridians.

FPL’s goal is to significantly accelerate the transformation of its generation mix, reaching 36% decarbonised by 2025, 52% by 2030, 62% by 2035 and 83% by 2040, culminating in 100% decarbonised by no later than 2045. 

And it plans to do so through a massive increase of solar PV and battery storage.

Currently, FPL generates almost 4GW of power from solar and NextEra wants to increase this number to 90GW by 2045. When it comes to battery storage, FLP is seeking to add more than 50GW of battery storage to FPL’s grid, up from 500MW today.

Additionally, there would be space for more nuclear power, while the present natural gas use of 16GW would be replaced by green hydrogen in a process that would “not result in any stranded generation assets,” NextEra said, which is seeking to become a “leader in green hydrogen production”.  

To read the full version of this story, visit PV Tech.

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Gary Meyers

Inaccess and Power Factors are combining to form a comprehensive digital tools company needed to effectively manage large portfolios of renewables with Power Factors’ asset performance management solutions and Inaccess’ SCADA, power plant and battery control, and market trading offerings.

“The vision of linking plant insights to trading and real-time controls is among the most exciting area of the renewables market today. Open, smart and autonomous tightly integrated tools will be required with the ever-increasing penetration of renewables onto the grid,” states Gary Meyers, CEO of Power Factors. “The combination of Power Factors and Inaccess solutions will be transformational for the renewable energy industry. We welcome our new colleagues as we join forces and collaborate to drive the renewable energy transition.”

When the transaction is closed, Power Factors will expand its customer asset management portfolio to nearly 200 GW, serving more than 300 customers worldwide.

“The renewables business is no longer just about minimizing levelized cost of energy, but also about maximizing revenue by making smart data-driven decisions in real-time and enabling income stacking from multiple services on existing or new operating assets,” says Christos Georgopoulos, co-founder and CEO of Inaccess. “Such goals require a broad and deep technical stack along with the platform capacity and scale that serves the largest energy producers on the planet. Achieving global scale is one of the many reasons we are excited to join forces with Power Factors.”

“We’re investing deeply in enabling our customers to drive digitalization efforts to better integrate large mixed renewable energy portfolios into the grid with direct market access,” adds Jonas Corné, chief strategy officer at Power Factors. We are excited about what the integration of Power Factors and the remarkable team of Inaccess will mean to our customers and the renewable energy industry globally.”

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Magnachip Semiconductor Corp. has launched a new 650V insulated-gate bipolar transistor (IGBT) for solar inverters. Magnachip developed a new 650V IGBT built with advanced field stop trench technology for fast-switching speed and high breakdown voltages. The company will begin mass production of it this month.

The current density of this new 650V IGBT was improved by 30% compared to the prior generation by adopting the latest technology. This IGBT is also designed to provide a minimum short-circuit withstand time of 5µs. It is optimized for parallel switching because of its positive temperature coefficient. The parallel switching of this IGBT will increase the load current and thus the maximum output power.

In addition, the 650V IGBT features anti-parallel diodes for fast-switching and low-switching loss, while guaranteeing a maximum operating junction temperature of 175°C. Based on standards issued by the Joint Electron Device Engineering Council (JEDEC), this new IGBT can be widely used for applications requiring strict power level and high efficiency, such as solar boost inverters and converters, uninterruptible power supplies, and universal power inverters.

“Magnachip’s first IGBT was introduced in 2013, and since then, we have been committed to developing high-efficiency products for a variety of markets, while strengthening our presence around the world,” states YJ Kim, CEO of Magnachip. “With this new product, we are expanding our efforts to deliver high-performance products for the eco-friendly renewable energy market.”

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The 15 projects were delivered for AES Corporation. Image: Borrego Energy.

Solar and storage EPC and O&M provider Borrego has completed the construction of 15 solar-plus-storage projects across New York and Massachusetts totalling 169MWh, for AES Corporation.

The projects across the two Northeast states total 96MW of solar PV power while the storage portion is 50MW/169MWh, an average duration of 3.4 hours. The storage units range in size from 1.7MWh to 17MWh. Global energy company AES Corporation is the asset owner.

Borrego said in a press release yesterday (June 16) that these are among its first DC-coupled solar-plus-storage installations and also its largest storage portfolio built for a single customer to-date. The DC-coupling technology enables the solar PV to generate up to 30% additional annual energy output for the same interconnection cost as they would have without storage.

Most of the projects are community solar sites, meaning utility-scale but with ownership divided amongst local individuals and businesses. In Massachusetts, this allows them to participate in the state’s SMART programme, which guarantees community solar holders payment over 20 years. The programme has been a major driver of co-located projects in the state.

The New York sites will discharge power into the NY Value of Distributed Energy Resource (VDER) programme. Also called the Value Stack, this rewards projects that can deliver energy to the grid when most needed by paying them an hourly aggregate rate.

“Being an early adopter of energy storage and solar-plus-storage technologies has not been without its challenges, but the completion of the AES portfolio has made it all worthwhile,” said John duPont, vice president of solutions at Borrego. “We collaborated with our product partners for years to develop and test the DC-coupled system hardware and energy management system controls that will enable these plants to deliver more solar generation per facility than was previously possible in this market.”

Energy-Storage.news wrote about some of the challenges of co-located projects sharing a grid connection in the UK market recently, which are likely to be relevant in the US too. These included questions over SPV structuring, grid access application timing and off-take agreements.

Borrego recently sold its development arm and pipeline to investment firm ECP to focus on growing its EPC and O&M businesses. Energy-Storage.news‘ sister site PV Tech interviewed Borrego CEO Mike Hall about the decision, which you can read here.

The firm has partnered with AES Corporation on other projects too, including an EPC contract for three solar PV farms in Michigan, which will come online in the middle of this year. It may also be delivering additional solar-plus-storage projects for AES to the ones announced yesterday, with some listed on its website, which exceed the 17MWh upper end outlined earlier (Pleasant St – Dunstable, MA, for example).

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The 561MWh co-located Slate BESS project in California, which Recurrent Energy recently sold in January last year. Image: Recurrent Energy.

Canadian Solar subsidiary Recurrent Energy has acquired two standalone energy storage projects in development totalling 400MWh in the ERCOT, Texas market.

Recurrent has acquired the projects from developer Black Mountain Energy Storage (BMES), part of broader energy project development group Black Mountain. The two 200MWh projects are in development and expected to begin operation in quarter two 2024.

Recurrent will continue to develop the projects, finalise entitlements and design, select and procure equipment, raise project financing and construct the facilities.

An earlier press release from BMES said the projects, Bordertown BESS and Fort Duncan BESS, have a power output of 100MWac each. They are in the South Load Zone of grid operator ERCOT’s market and will be operated as merchant projects, meaning they will mostly do wholesale energy trading. BESS projects in ERCOT make half of their money from this, according to investor Gore Street Capital, which recently entered the market.

The projects are two of six 100MW projects in BMES’ portfolio and BMES signed exclusivity agreements with a separate counterpart for the other four – Brazos Bend BESS, Seven Flags BESS, Third Coast BESS and Tierra Seca BESS – according to the earlier release from March this year.

Although the press release described Recurrent’s two acquired projects as standalone ones, documentation on ERCOT’s website implies they could be co-located with solar. Canadian Solar is one of the largest solar PV module manufacturers in the world and Recurrent, which Canadian acquired in 2015, recently gave Energy-Storage.news an interview on the potential of solar-plus-storage in the US.

“It’s bittersweet to see these projects leave the nest, but I must say Recurrent picked them well. We ought to see pronounced volatility at these nodes for years to come, and these batteries will not only capture significant value but provide resiliency in a sparse region of ERCOT’s transmission network,” said Witt Duncan, director of corporate development, BMES.

“Identifying challenged areas of the transmission network that produce outsized opportunities for spread capture is BMES’ core focus, and we have 3.0GW of optimally sited ERCOT BESS projects in the hopper behind these two.”

The deal was done through the LevelTen Asset Marketplace platform which connects clean energy project developers and financiers, and provides the software, analytics and M&A transaction expertise to complete deals.

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1414 Degrees early concept art for the Aurora project. Image: 1414 Degrees.

A novel project in development in Australia combining concentrating solar power (CSP), molten silicon thermal storage, solar PV and a grid-scale battery system appears to be revived by a new joint venture (JV).

Called Aurora, the project in South Australia was being developed by 1414 Degrees (14D), a technology company which has developed and patented the molten silicon thermal energy storage system (TESS) that would be used at the site. The name 1414 Degrees in fact refers to the melting point of silicon used in its systems.

The Australian company owned all rights to the site and development. However, the project hit the buffers as reported by Energy-Storage.news in April when Jemena Group, an energy infrastructure company co-owned by State Grid Corporation of China and Singapore Power decided to withdraw interest in investing in it.

CSP and solar thermal company Vast Solar said this week that it has stepped in to form a JV with 14D. This follows an agreement for concessional finance worth A$110 million (US$76.78 million) being made with the Australian government for development of a 20MW CSP plant in the Port Augusta region where Aurora will be built.

The JV will co-develop the site’s battery energy storage system (BESS), which has a planned output of 140MW and between one- and two-hours’ storage duration (140MWh to 280MWh).

The project also has development approval from South Australia’s state government to include a 70MW solar PV array as well as connection to adjacent 275kV transmission lines.

Vast Solar will also have access to the site to develop its CSP project, which the company claimed will be able to produce dispatchable electricity available for eight hours or more and could lead to export opportunities and job creation around the technology.

“As per recent comments from the Federal Energy Minister and AEMO, dispatchable renewable energy capacity is what is required to curb the high prices currently being experienced in Australian energy markets,” Vast Solar CEO Craig Wood said.

“We are excited to be working with the Federal Government and ARENA to finalise funding for the project, and with State and Local Governments and other partners to expedite the Aurora project.”

ASX-listed 14D said in a regulatory filing that it has sold a 50% stake in its development subsidiary, Silicon Aurora, to Vast Solar, at a purchase price of A$2.5 million, payable in two instalments.

Development of the BESS will be Stage 1 of the project and the companies are sharing the expected A$1.8 million development costs equally.

A final investment decision on Stage 1 is expected to be made early next year, 14D said, while the JV agreement gives the company the right to independently progress a pilot of its thermal energy storage system tech at the site.

“We are now in an excellent position to continue with the development of the Aurora project,” 14D chairman Tony Sacre said.

Also in South Australia, solar developer Photon Energy has secured a 1,200 hectare site on which it aims to deploy a technology which apparently combines various aspects of CSP and solar PV with a novel long-duration energy storage technology called ‘thermal hydro’.

The solution, dubbed ‘PV Ultra’ by RayGen, the Australian company which created it, generates both electricity and heat using PV modules and angled mirror towers (heliostats) to generate CSP. Energy generated is stored in water tanks of differing temperatures, with the temperature difference used to drive an engine to deliver power when needed.

Photon Energy has claimed the PV Ultra plant could store and discharge energy for anything between 17 and 24 hours.  

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Muja coal power plant is scheduled for phased retirement by the end of 2029. Image: Wikimedia user nachoman-au

Western Australia will retire its two state-owned coal power plants by 2030 and plans an “orderly transition” to reliance on renewable energy and energy storage.

The state government said the continued growth of renewable energy – and rooftop solar in particular – is driving down the economic competitiveness of coal. To ensure reliability of electricity supply and guard against prices to consumers rising, it will invest heavily in “green power infrastructure”.

A joint statement was issued on Tuesday (14 June) by state Premier Mark McGowan and Minister for Mines, Petroleum and Energy Bill Johnston which outlined a A$3.8 billion (US$2.66 billion) investment plan and gave retirement dates for the two plants, Collie and Muja.

Collie is closing in late 2027 while some of Muja’s units will go offline this year, more in 2024 and the remainder before the end of 2029, the statement said.

The A$3.8 billion investment – at present the figure is an estimate – will largely go towards upgrades of the Australian southwest’s grid network, the South West Interconnected System (SWIS).

Calling it “one of the biggest infrastructure investments ever seen in Western Australia,” premier McGowan said it represents “investment in renewable energy and energy storage” which will thousands of jobs in regional Western Australia (WA).

A transition package worth A$547.4 million is being committed to help the town of Collie grow industries and create local jobs as the coal plant that has long been at the heart of its economy retires. The Collie Transition Package will support Collie over 10 years, including a A$200 million Collie Industrial Transition Fund.

The current status quo for Western Australia is that the uptake of rooftop solar is so fast that energy minister Johnston said the equivalent of a new coal power plant unit is being added every year to the grid.

However, this is creating a significant excess in generation capacity that state-owned utility company Synergy is forced to offload at a loss, at the same time incurring maintenance and other fees which are paid by the taxpayer.

If the coal plants were to be kept running, costs to the taxpayer would see an average bill rise of between A$1,800 to A$3,000 per year, with a total of about A$3 billion required to cover losses Synergy would make by the 2029-2030 timeframe.

The coal phase-out would also decrease Synergy’s emissions by 80% by 2030 and a 40% emissions reduction across the SWIS, the government claimed.

Synergy and the state’s Water Corporation are currently considering options including pumped hydro energy storage and hydrogen as a drop-in replacement for natural gas.

In the short-term, the government has said it will continue to reserve 15% of the state’s natural gas that would otherwise be exported as a planning margin. It has however said it will not build any new gas facilities after 2030.

The growth of rooftop solar is putting “unprecedented pressure on the system,” forcing the government to take action, Johnston said.

“Our new investment in the South West Interconnected System represents an extraordinary investment in the future of our electricity system, including a massive reduction of Synergy’s carbon emissions,” Johnston said.

“Western Australia will implement a sensible, managed transition to a greater use of renewables for electricity generation, while ensuring we maintain electricity reliability as a priority,” McGowan said.

A report just published by the Australian Energy Market Operator (AEMO), found that electricity supply should be able to meet expected demand in Western Australia until at least 2025, although it expects a shortfall of around 21MW by 2025-2026 as Muja’s retirement picks up pace.

This could grow to about 303MW by the beginning of the 2030s if no new capacity additions were committed to AEMO said, although it noted in a statement today that these figures were calculated and published ahead of the WA government investment announcement.

In April, Energy-Storage.news reported that the state government was funding a feasibility study for a battery energy storage system (BESS) project in Collie with capacity of between 600MWh and 800MWh.

At the time, Minister for Regional Development Alannah MacTiernan said the project would “provide a firm basis to progress a renewable energy hub in Collie”.

This followed the award by Synergy and the WA government of a 100MW/200MWh BESS project at the site of Kwinana, a decommissioned co-generation thermal power station in the state, in October 2021. Italy-headquartered NHOA, a subsidiary of Taiwan Cement Corporation, was awarded the contract.

The latest news comes as Australia’s energy markets continue to be in a crisis, with spot market trading suspended this week in the National Electricity Market (NEM) which covers most of the country. This is thought to be largely caused by supply shortfall in two states, Queensland and New South Wales, triggering volatility across the NEM.

Meanwhile, the economic competitiveness of coal continues to be eroded by changes in the NEM which favour fast-responding and inverter-based technologies such as wind, solar and battery storage, leading to coal plant operators seeking clarity from the Federal government on timelines for closures.

This has come amid a wave of cautious optimism that the new Labor government led by Prime Minister Anthony Albanese, elected on a platform that included promises of strong action on climate, will tackle fossil fuels.

Eraring in New South Wales (NSW) is the country’s biggest coal plant. It is set to be replaced with a combination of large-scale battery storage and distributed renewables. Its owner, Origin Energy, wants to retire the plant by 2025 and the NSW government was prompted to make its own pledge of A$1.2 billion investment into infrastructure to support huge Renewable Energy Zones (REZ) in the state.

The first recipient of that NSW government funding will be Waratah Super Battery, a 700MW/1,400MWh which will act as a “shock absorber” for the transmission network.  

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Shawn Qu

Recurrent Energy LLC, a wholly owned subsidiary of Canadian Solar Inc., has acquired two standalone energy storage projects from Black Mountain Energy Storage (BMES). The projects, which are in the South Load Zone of the Texas ERCOT market, are each anticipated to store up to 200 MWh of energy. Both projects are currently in development and are anticipated to reach notice to proceed (NTP) in 2023 and begin operation in the second quarter of 2024.

Recurrent has developed 2.9 GWh of energy storage projects that are in construction or operation and has an additional pipeline of 15.5 GWh of projects under early to mid-stage development. The two standalone energy storage projects added to Recurrent’s development pipeline will be operated as merchant projects in the ERCOT market, providing dispatchable and reliable power to the grid. Recurrent will continue to develop the projects, finalize entitlements and designs, select and procure equipment, raise project financing, and construct the facilities.

“ERCOT is one of the fastest growing markets in the world for energy storage, driven by market demand for flexible capacity,” says Dr. Shawn Qu, chairman and CEO of Canadian Solar. “We are pleased to accelerate our ERCOT storage pipeline with the acquisition of two projects totaling 400 MWh of storage from Black Mountain Energy Storage. We look forward to bringing our storage development, financing and construction experience to bear as we bring these projects to fruition and increase grid reliability for Texans.”

“It’s bittersweet to see these projects leave the nest, but I must say Recurrent picked them well,” states Witt Duncan, director of corporate development at BMES. “We ought to see pronounced volatility at these nodes for years to come, and these batteries will not only capture significant value but provide resiliency in a sparse region of ERCOT’s transmission network. Identifying challenged areas of the transmission network that produce outsized opportunities for spread capture is BMES’ core focus, and we have 3 GW of optimally sited ERCOT BESS projects in the hopper behind these two. We’re excited to see Recurrent Energy take each of these projects into the next phase of development and appreciate the expertise the folks at LevelTen Energy brought to the table to facilitate an efficient transaction process.

The transactions were executed through the LevelTen Asset Marketplace, a platform that connects clean energy project developers and financiers, and provides the software, analytics and M&A transaction expertise they need to execute transactions quickly.

“The LevelTen Asset Marketplace provides a centralized platform for renewable energy project sales, and delivers the tools buyers and sellers need to transact quickly,” comments Patrick Worrall, vice president of Asset Marketplace at LevelTen Energy. “We are happy that our platform enabled the deal between Recurrent and Black Mountain Energy Storage, both of whom are doing pioneering work to accelerate storage and clean energy development.”

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