#USA #Portsmouth #Granite Source Power #Energy Partnership #Great Bay Renewables

Granite Source Power and Great Bay Renewables Join Forces

In an exciting development for the energy sector, Granite Source Power (GSP) and Great Bay Renewables have announced a strategic partnership designed to address the increasing demands for reliable energy and enhance the power grid's efficiency. As two innovative leaders in the renewable energy space, their collaboration underscores a commitment to developing sustainable solutions that meet the evolving requirements of energy consumers and providers.

The Partnership's Focus

Since its inception in 2022, GSP has successfully closed about 2,000 MW in project sales while developing a strong portfolio of battery storage and generation initiatives across major U.S. markets, including ERCOT, PJM, NYISO, ISONE, and SPP. This partnership looks to leverage Great Bay's expertise in energy finance and interconnection security, enabling GSP to advance its development strategies and commercialization efforts effectively.

As the demand for energy surges—primarily driven by data centers and other high-stakes industries—the landscape of the energy market has become increasingly complex. In response, GSP has formulated innovative strategies aimed at expediting project timelines while efficiently delivering critical infrastructure. This new alliance with Great Bay positions GSP to expand its service offerings, thus creating more opportunities for utilities, large-load clients, and energy generation owners.

Voices from the Leaders

Marc Rizzo, a co-founder of Granite Source Power, expressed optimism about the partnership's potential impact, stating, "This partnership represents a significant step forward in advancing our vision to collaboratively address the grid reliability and energy demand challenges facing our markets. By combining our unique development capabilities with Great Bay's innovative financing strategies, we can effect real, sustainable change in the communities we serve."

Frank Getman, CEO of Great Bay Renewables, echoed this sentiment, emphasizing the importance of their collaboration with GSP. He noted, "Granite Source Power has created an extraordinary foundation at the right moment, led by a fantastic team. Battery storage and electricity generation are vital to meeting America’s escalating power demands due to advancements in AI, data centers, and industrial growth. Great Bay’s forward-thinking financing solutions eliminate financial barriers, allowing GSP to scale quickly and deliver the essential infrastructure that our grid urgently needs."

Granite Source Power: Mission and Vision

Granite Source Power is dedicated to developing high-quality battery storage and electricity generation projects. Their mission revolves around delivering long-term shared value for landowners, communities, customers, and stakeholders. By embracing an owner-operator mindset, GSP aims to foster enduring relationships grounded in trust and integrity. The team possesses extensive experience in the development, commercialization, and financing of some of North America’s most substantial and intricate projects.

Great Bay Renewables: Driving Innovation in Energy Financing

Based in Portsmouth, New Hampshire, Great Bay Renewables specializes in innovative capital solutions for the renewable energy sector, particularly focusing on royalty financing. The company’s approach encompasses providing funding for renewable energy projects at various stages, effectively overcoming financial hurdles such as interconnection security deposits. To date, Great Bay has invested over $730 million, establishing royalty agreements across more than 35 renewable energy projects, cumulatively amounting to approximately 8.2 GW.

Backed by Altius Renewable Royalties Corp. and affiliates of Apollo (NYSE: APO), Great Bay’s management team boasts a wealth of experience in renewable energy project development, financing, and operational management throughout the United States.

Conclusion

The union of Granite Source Power and Great Bay Renewables signifies a proactive approach in confronting the growing energy demands and grid challenges. As they embark on this journey, their partnership promises to deliver substantial benefits not only to the energy market but also to the communities they serve, ensuring a more robust, reliable energy future for all stakeholders involved.