GridStor’s Strategic Move: Acquires 450 MW Project in Galveston County, Texas
GridStor, a leading developer and operator of utility-scale battery energy storage systems, has acquired a significant project in Galveston County, Texas, from Balanced Rock Power. The Evelyn Battery Energy Storage project, with a capacity of up to 450 MW and 900 MWh, is set to commence construction in Summer 2024, targeting completion by Spring 2025.
Meeting Texas’ Growing Power Demand: Critical Timing for the Evelyn Project
Texas faces an imminent surge in power demand, with the Electric Reliability Council of Texas (ERCOT) projecting a 5,000 MW increase in summer peak power demand by the end of the decade. Additionally, winter extreme weather may contribute to a potential 16,000 MW of new peak demand. GridStor’s acquisition strategically addresses these challenges.
Battery Storage as a Scalable Solution: Chris Taylor, CEO of GridStor, Comments
Chris Taylor, CEO of GridStor, emphasizes the scalability and immediacy of battery storage solutions to counter Texas’ historic load growth. Battery deployment stabilizes the power system, supporting the state’s increasing energy demands while new power sources and infrastructure are under long-term development.
Project Features and Impact: Enhancing Grid Resilience in Houston
Situated near the Hidden Lakes substation owned by Texas New Mexico Power (TNMP), GridStor’s Evelyn project is strategically positioned for swift grid-connected operations. The project’s proximity to Houston addresses congestion issues, enhancing the grid’s resilience and reliability during peak hours and disturbances.
Engineering and procurement activities are already in progress, with construction scheduled to commence in Summer 2024. The project is anticipated to generate employment for 100 skilled tradespeople and apprentices during its construction phase.
Partnerships for a Sustainable Future: Balanced Rock Power’s Commitment
John Knight, CEO of Balanced Rock Power, expresses commitment to advancing clean energy adoption in collaboration with GridStor. Together, they aim to build clean, reliable, and affordable energy solutions, aligning with the nation’s transition towards a sustainable and clean energy landscape.
GridStor, backed by Goldman Sachs Asset Management, specializes in developing and operating battery facilities integrated into the American power infrastructure. Their target markets focus on regions experiencing higher energy demand due to unpredictable weather events and increased grid instability.
Balanced Rock Power, as a boutique developer, prioritizes utility-scale solar and energy storage projects to support the transition to renewable energy. Their long-term approach and extensive industry experience contribute to fostering positive relationships and ensuring the viability of projects.
Source：businesswire.com
