#United States #Portsmouth #Granite Source Power #New Energy Capital #Battery Storage

Partnership Highlights

Granite Source Power, LLC (GSP) has recently announced a major milestone in the renewable energy sector with the sale of nearly 1,250 MW worth of standalone battery energy storage projects across multiple markets, including ERCOT, SPP, and ISONE. Established in 2022, GSP has rapidly developed a significant project pipeline totaling nearly 5GW, showcasing its commitment to expanding clean energy solutions.

Strategic Partnership for Growth

In a bid to accelerate its development strategy, GSP formed a partnership with New Energy Capital (NEC) in 2023. This collaboration is not just a business alliance; it leverages decades of collective experience in the renewable energy sector, focusing on siting, developing, and financing projects. GSP’s recent transactions not only represent a response to strong market demand but also reinforce its capacity to execute large-scale projects under expert guidance.

Patrick Fox, a partner at NEC, emphasized the importance of their partnership, stating, "In partnering, GSP and NEC have combined a tremendous amount of experience and success in renewable project development. We are developing assets in strategic locations in diverse power markets. This approach has resonated well with project buyers. Moving forward, we aim to expand our partnerships with both existing and new buyers.” This sentiment reflects a robust strategy centered on understanding market dynamics and delivering value to stakeholders.

Methodical Project Sales

The sale of these energy projects was executed through separate purchase and sale agreements with various buyers, each having specific target Commercial Operation Dates (CODs) planned between 2025 and 2027. Such careful structuring highlights GSP’s commitment to stability and reliability in the rapidly evolving energy market.

Marc Rizzo, Co-Founder of GSP, shared his excitement about the future: "We are thrilled to expand our partnerships and connect our projects with reliable buyers. Identifying appealing opportunities has been crucial in this competitive landscape, enhancing the marketability of our projects. Our collaboration with NEC has enabled us to swiftly seize and implement value-adding opportunities that ultimately benefit our project buyers.”

Industry Impact and Expansion

Granite Source Power is a collective of industry experts known for their significant expertise in developing and financing complex renewable projects across North America. The firm has positioned itself as a frontrunner in fostering sustainable energy practices. Meanwhile, New Energy Capital, a notable player in clean energy investments, brings considerable experience from over $1.6 billion in investments across more than 40 green energy projects, underlining the economic and environmental benefits these initiatives bring.

Both GSP and NEC are committed to expanding their reach within the renewable energy market. The sale of 1,250 MW of battery storage projects is not merely a transaction; it symbolizes a commitment to a more sustainable future and serves as a foundation for further innovative developments in the renewable energy sector.

For more details about Granite Source Power, visit Granite Source Power. To learn about New Energy Capital, check out New Energy Capital.