Joint Venture for Energy Storage Facilities
Apex Clean Energy has entered a joint venture, SA Grid Solutions, with SK Gas and SK D&D to own and operate energy storage facilities in the United States. The venture is set to manage the Great Kiskadee utility-scale battery project in Texas, with plans to acquire and advance additional Apex storage projects in the future.
Funding and Project Details
The joint venture is funded 60% by SK and 40% by Apex, with Apex taking charge of construction, operations, and optimization. Great Kiskadee Storage, located in Hidalgo, Texas, will deliver 100 MW/200 MWh of capacity to the ERCOT grid with a two-hour battery duration.
Shared Vision and Collaboration
Ken Young, CEO of Apex Clean Energy, expressed excitement about the collaboration, emphasizing the potential for additional megawatts of energy storage. The partnership aims to accelerate the deployment of Apex’s development-stage storage portfolio, exceeding 13 GW across the United States.
Vision for Net-Zero Solutions
Byung Suk Yoon, CEO of SK Gas, highlighted the importance of the energy storage system (ESS) business in expanding renewable power generation. The collaboration aims to contribute to power supply stabilization and support the growth of renewable energy as a net-zero solution provider.
Project Impact and Timeline
Great Kiskadee is anticipated to commence commercial operations in 2024, generating over 50 jobs during construction and more than $12.6 million in tax revenue over its lifetime.
Source：businesswire.com
