From ESS News
Energy Vault has made its first acquisition of a grid-scale battery project under its own investment platform, with a subsidiary called Asset Vault buying up a 150 MW/300 MWh BESS called the SOSA Energy Center (SOSA), located in Madison County, Texas, which will connect to the ERCOT North market.
The project will use Energy Vault’s B-VAULT product, now in its third generation. SOSA was originally developed by US-based solar and energy storage developer Savion, a subsidiary of oil major Royal Dutch Shell. Shell bought Savion in 2021.
Energy Vault said the project is expected to receive Notice to Proceed (NTP) in Q4 2025, or within just two months, and following construction and build, which is also planned for Q4 2025, commercial operation will be expected in Q1 2027. The project has elements of a ready-to-build acquisition, with the path to construction mostly cleared with a reported fully secured site control, clean title, and completed environmental and interconnection milestones.
A timely decision on the NTP will be key: Energy Vault also said it will safe harbor the asset with construction beginning on-site in Q4 2025, meaning it will aim to qualify the project for tax incentives under U.S. federal law by completing “significant” work or incurring at least 5% of total project.
To read the full story, please visit 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.