1 GWh Power Storage Undertaking In Arizona Will get $559 Million In Financing

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Strata Clear Power has secured $559 million in financing for its 255 MW/1,020 MWh Scatter Wash battery storage advanced. Strata broke floor on the Phoenix, AZ, vitality storage undertaking in January of this 12 months. The massive battery storage advanced is anticipated to be working in 2025.

Monetary companions/collaborators for the undertaking are J.P. Morgan, Nomura, U.S. Bancorp Influence Finance, CoBank, Korea Growth Financial institution, Norddeutsche Landesbank, Siemens, and Areas.

“The profitable financing for the Scatter Wash battery storage advanced marks a major step ahead in our mission to drive the transition to scrub vitality. This chance to collaborate with our financing companions to carry this vital undertaking to fruition will create a long-lasting, sustainable impression on a area that struggles with grid challenges and excessive warmth,” mentioned Markus Wilhelm, Chief Government Officer of Strata Clear Power. 

When it turns into operational, the brand new vitality storage advanced will have the ability to present energy to 50,000 Arizona properties throughout peak summer time circumstances. 

“J.P. Morgan is working to supply capital to speed up the expansion of sustainable infrastructure nationwide. We’re very happy to work alongside Strata to decarbonize our communities and construct a extra resilient vitality future,” mentioned John Beebe, Government Director of J.P. Morgan Inexperienced Financial system Banking. 

The Tesla Megapack 2XL expertise will likely be used all through the Scatter Wash vitality storage advanced.

Strata’s growth pipeline has 31,800 MWh of vitality storage and eight,400 MW of solar energy, in accordance with the press launch. That’s quite a lot of solar energy — particularly, it’s an unlimited quantity of vitality storage as properly.

It was solely 8 years in the past that I wrote an article for this web site in regards to the Yerba Buena 4 MW / 28 MWh Power Storage Undertaking. Eight years isn’t that lengthy, and but it’s now doable to put in vitality storage initiatives with a far better capability. The purpose is that vitality storage and clear, renewable electrical energy could be scaled and are being scaled. Critics mentioned it couldn’t or wouldn’t be achieved and so they have been confirmed unsuitable. In an extra eight years, will there be vitality storage complexes a number of instances bigger than Scatter Wash?

Lest you attempt to dismiss this large vitality storage undertaking as a one-off, Steve Hanley not too long ago wrote an article about one other whopper, this one in Hawaii. As vital as these particular person vitality storage initiatives are, the general pattern towards bigger and bigger installations is equally important.