Texas Generation, Storage Developer Acquires Outstanding Interests In JV Storage Portfolio
December 23, 2021 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Eolian, a portfolio company of Global Infrastructure Partners (GIP), today announced the acquisition of all remaining outstanding interests in joint venture development portfolios of energy storage projects managed by Able Grid Energy Solutions.
Since early 2017, Eolian and Able Grid have jointly pursued development of a portfolio of more than 10 GW of energy storage assets across multiple markets in the U.S.
Additionally, since 2020 Eolian and Able Grid have collaborated on more than 300 MW of energy storage assets in Texas and California that are now operating or under construction and owned by Eolian's subsidiary, Astral Electricity.
GIP's current portfolio includes approximately $9 billion of equity investments and commitments in the sector, and ownership interests in over 14 GW of operating renewable assets and approximately 100 GW under construction or in development.
Aaron Zubaty, CEO of Eolian, said: "This transaction will build on years of collective work with Able Grid management and employees to create a market for standalone energy storage projects throughout the US."