From ESS News
In California, Swedish company Eolus has sold the 100 MW/400 MWh battery energy storage system (BESS) it had been developing since 2019 to an unnamed buyer, and Arevon Energy Inc. closed a $258 million finance package for its 200 MW/400 MWh Peregrine Energy Storage project.
Further east, SMT Energy has secured $135 million for its 160 MW/320 MWh SMT Houston IV BESS, which will supply the Electric Reliability Council of Texas (ERCOT) grid.
Arevon announced on Tuesday it had closed a funding package for its Peregrine BESS in San Diego’s Barrio Logan community, also in California.
The developer said it borrowed $179 million as bridge loans, with Santander as lead arranger, and then Acadia Infrastructure Capital and its unnamed equity partner paid $79 million for a stake in the site.
The Peregrine project features Tesla Megapack 2 XL utility-scale batteries.
Read the full story on our ESS News website…
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.