Two major acquisitions in the energy storage market, on the back of the enormous $67 billion deal where utility major NextEra is set to buy Dominion, creating a US utility giant.
GridStor
BESS developer GridStor, back by Goldman Sachs, announced this week that it has acquired the 199 MW / 796 MWh Birdseye project in Adams County, Colorado from Accelergen, its fifth acquisition within the last eighteen months. The project is set for construction to begin as early as 2027, with commercial operations planned for the end of 2028.
“We are actively expanding our portfolio by acquiring high-quality projects,” said Chris Taylor, CEO of GridStor. “One of our core strengths is efficiently transitioning projects from the development phase to operational status. We look forward to bringing more battery storage facilities online to support power system reliability for Western utilities.”
Hull Street Energy buys FirstLight USA
Over on the Northeast side of the contiguous US, Hull Street Energy, a power-focused investment firm, said it had signed an agreement to acquire FirstLight USA from the Public Sector Pension Investment Board.
This includes a portfolio of nearly 1,400 MW of energy, including the 1,168 MW Northfield Mountain pumped storage hydro facility in Massachusetts, the largest energy storage facility in New England. The deal also includes three operational solar and battery facilities and includes 14 hydroelectric stations located in Connecticut, Massachusetts and Pennsylvania.
“The retirement of dispatchable generation in New England has left the region struggling to integrate sufficient new clean resources to meet growing demand, raising concerns about the impact of narrowing reliability margins on grid stability and affordability,” said Sarah Wright, Founder and Managing Partner of Hull Street Energy. “Addressing this challenge requires thoughtful retention and optimization of existing clean, firm, long-duration resources like Northfield Mountain, which plays a critical role in maintaining grid reliability across the region. We look forward to partnering with the accomplished FirstLight team to revitalize the important legacy hydro industry and deliver safe, sustainable, reliable and affordable power to customers.”
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