Today, Plus Power announced that its 150 MW / 600 MWh Corazon Energy Storage project was awarded a 20-year contract by Public Service Company of New Mexico (PNM), subject to regulatory approvals, in response to the utility’s 2026-2028 Generation Resources Request for Proposals. The RFP was issued in 2022 and sought projects that will help serve growing energy demand in New Mexico as it transitions to zero-carbon energy by 2045. PNM filed with the New Mexico Public Regulation Commission for approval of the project on Nov. 22, 2024.

June 25, 2024

Arizona Republic | SRP deploys state’s largest battery system to handle peak energy demand spikes

Salt River Project is deploying two new industrial-scale battery storage systems, including the state’s largest so far, to absorb excess energy when it’s not needed for release at later periods when demand spikes. The 250 MW Sierra Estrella facility, on nine acres in Avondale, became the largest standalone battery system in Arizona when it went online earlier this month, SRP said. It will store enough energy to power more than 56,000 residences for four hours. The 90 MG Superstition Energy facility in Gilbert will store enough power for 20,000 homes for four hours.

June 13, 2024

CISION PR Newswire | First Major Standalone Battery Storage Project in ISO-NE Closes Financing

Today, Plus Power™ announced the close of construction and term financing for the first major utility-scale standalone battery storage system in construction on the New England grid, among other notable firsts for standalone storage in the region. The Cranberry Point facility, located in Carver, Massachusetts, will help stabilize the electric grid during the region’s increasing number of extreme weather events while helping to suppress volatile wholesale prices for ratepayers.

May 1, 2024

CISION PR Newswire | Plus Power Secures Additional $82 Million of Tax Equity for Battery Storage Projects

Plus Power™ announced the closing of an $82 million tax equity investment from Morgan Stanley for the 90 MW / 360 MWh Superstition Energy Storage facility in Gilbert, Arizona. Plus Power, which leads the sector for developing, owning, and operating standalone energy storage, has raised a total of approximately $2 billion for five total facilities in Arizona and Texas since October 2023. These investments will enable Plus Power to bring the facilities online by summer 2024, helping stabilize electric grids in the Southwest during extreme weather while integrating more renewable energy.

February 15, 2024

CISION PR Newswire |  Plus Power Secures Nearly $100 Million Tax Equity Financing for Merchant Battery Storage Project in ERCOT

Plus Power announced the completion of approximately $98 million in tax equity investment for its 200 MW / 400 MWh Ebony Energy Storage facility in Comal County, Texas. The investment from Greenprint Capital Management, a market leader in structured, renewable energy tax credit partnerships, will help the project stabilize ERCOT’s power system during dynamic summer demand and cold winter storms while helping to integrate more renewable energy into the grid.

January 27, 2024

USA Today | This state is quickly becoming America's clean energy paradise. Here's how it's happening.

Hawaii pledged to be “Coal free by ’23,” and state law requires 100% clean energy in just 21 years. Attaining that goal came closer last month when an enormous 185-megawatt battery near Honolulu hummed into full operation.

January 07, 2024

The Maine Monitor | Maine’s first giant battery project set for construction in Gorham

Construction is set to begin this spring in Gorham on one of New England’s largest battery storage projects, a preview of similar ventures that are seen as a missing link for optimizing the region’s growing fleet of solar and wind power plants.

October 17, 2023

S&P Global | Plus Power secures landmark $1.8B for US battery stations as 'tidal wave' nears

Amid a challenging high interest-rate environment, the fast-growing Houston-headquartered company closed financings with major lenders and investors to bring online 1.04 GW/2.76 GWh of lithium-ion battery capacity before peak power demand returns to Texas and the Southwest next summer.

September 12, 2023

The Texas Tribune | As brutal heat tests Texas’ power grid, batteries play a small but growing role in keeping the lights on

On Wednesday night, minutes before the state’s grid operator went into emergency mode to make sure it would have enough power to meet high demand during another triple-digit day, batteries provided more electricity to Texas homes and businesses than ever before.

February 11, 2021

Green Tech Media | “Plus Power Breaks Open New England Market for Massive Batteries”

San Francisco-based developer Plus Power won two bids in the latest capacity auction held by the New England ISO, which operates the transmission grid and competitive power markets in six northeastern states. That means that these two battery plants offered a compelling enough price to edge out some fossil fuel plants for delivering power on demand.