ENERGY STORAGE GROUP CLOSES FINANCING FOR TEXAS BESS PROJECT
https://s.yimg.com/ny/api/res/1.2/kvbQMYkgV23m2MYZADk7pw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD00MTE-/https://media.zenfs.com/en/power_magazine_984/42ae8248b50bcded70b6460179f3b3da
✍️ Energy Vault, a global developer of grid-scale energy storage projects, has closed project financing and completed a 10-year offtake agreement for a battery energy storage system (BESS) installation in Texas.
👉 Energy Vault has closed project financing for the Cross Trails BESS 👉 The project has a decade-long offtake deal with power marketer Gridmatic 👉 The BESS is a 57-MW/114-MWh BESS that will serve the Electric Reliability Council of Texas (ERCOT) region 👉 The project is expected to receive more than $12 million in federal investment tax credit-related funds this summer 👉 Energy Vault will report a quarterly increase in cash of more than 20% during its second-quarter earnings call on August 7
-- #RobertPiconi #MaxWytock #DarrellProctor #Texas #California #Virginia #Switzerland #Australia #technology
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