Agilitas Energy, an integrated developer, builder, owner and operator of distributed energy storage and solar photovoltaic systems in the northeastern United States, has agreed to purchase six stand-alone energy storage system projects from a subsidiary of Gulf States Renewable Energy, based in the greater Houston area. GSR Energy. The value of the deal is approximately 75 million dollars.
The acquisition and new market entry add 60 MW to Agilitas Energy’s pipeline of more than one gigawatt of renewable energy and battery storage projects.
The projects are operated by the Electric Reliability Council of Texas, which manages electricity for more than 26 million Texas customers, representing about 90% of the state’s electric load.
Battery storage systems deliver low-cost energy to customers of CenterPoint Energy, a domestic energy distribution company headquartered in Houston. It improves grid reliability and resiliency by charging batteries from the grid at a low peak when there is excess energy and costs are lower, and then discharging this energy when demand is high.
“Our strategy is to continue to expand into new geographies, but we also plan to strengthen our renewable energy portfolio to include non-solar sources and partner with other leading renewable energy developers to achieve these goals as needed,” said Barrett Bilotta, President and CEO. one of the founders of Agilitas Energy.
Each of the six projects has an identical design and battery supply from BYD Energy batteries and a system size of 9.96 MW/20.721 MWh. Two of the six projects are expected to begin commercial operations in 2023 and the next four in 2024. Agilitas Energy plans to purchase all six projects in the portfolio once they are fully permitted and ready for construction.
