Morning Brief: MISO preps for FERC Order 2222, zinc battery startup Eos now public via SPAC


Seeking to open communication channels with their distribution utilities, MISO staff held a workshop to prepare for FERC Order 2222. Kristin Swenson, MISO’s distributed energy resource program director, said the grid operator needs better collaboration with distribution system operators to comply with the order, which allows DER aggregators to compete in organized wholesale electric markets. To do that, MISO will need access information typically reserved for distribution utilities. Per Order 2222, MISO will create a “coordination framework” to guide interaction with relevant electric retail regulatory authorities, distribution utilities and DER aggregators — including both documented procedures and operating agreements. “It’s OK that we don’t know what the plan will be right now,” Swenson said. “The control systems, while there are a lot of cool ones out there, haven’t been widely adopted yet.” Source: RTO Insider

Eos Energy Storage, a manufacturer of zinc-based battery technology, was listed on the Nasdaq on Tuesday following its acquisition by a special-purpose acquisition company. The deal is projected to give Eos a pro forma market capitalization of $500 million. The company is targeting $50 million in revenue for 2021, and $260 million for 2022. Earlier this month, Eos entered a partnership with utility developer Hecate Energy to provide battery technology to projects in Colorado, New Mexico, and Texas. Source: Reuters

Founded by industry veterans, SolaREIT is a solar real estate investment company focused on acquiring the land underpinning solar assets. Its mission is to acquire, develop, & manage climate-friendly solar assets that support the transformation to a low-carbon economy. The company is the first of its kind—and another example of financial innovation coming to the industry. SolaREIT is able to provide investors with attractive returns through land acquisition, lease monetization, and solar project re-powering. For developers, we offer a way to optimize project costs while reducing risk by streamlining the land acquisition and management process. SolaREIT  is officially launching with the closing of its first tranche of capital. The company is actively looking to partner with U.S.-based project owners, solar developers, and landowners to provide innovative financing options for land purchases and solar lease “buy-outs.” SolaREIT has already done land transactions in Maryland and Minnesota. Source: Solareit

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