Image Credit: Strata Clean Energy1 GWh Energy Storage Project In Arizona Gets $559 Million In Financing .
February 23, 2024February 23, 2024 4 days ago Jake Richardson 0 Comments
Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News! Strata Clean Energy has secured $559 million in financing for its 255 MW/1,020 MWh Scatter Wash battery storage complex. Strata broke ground on the Phoenix, AZ, energy storage project in January of this year. The huge battery storage complex is anticipated to be operating in 2025 .
Financial partners/collaborators for the project are J.P. Morgan, Nomura, U.S. Bancorp Impact Finance, CoBank, Korea Development Bank, Norddeutsche Landesbank, Siemens, and Regions.
“The successful financing for the Scatter Wash battery storage complex marks a significant step forward in our mission to drive the transition to clean energy. This opportunity to collaborate with our financing partners to bring this critical project to fruition will create a lasting, sustainable impact on a region that struggles with grid challenges and extreme heat,” said Markus Wilhelm, Chief Executive Officer of Strata Clean Energy.
When it becomes operational, the new energy storage complex will be able to provide power to 50,000 Arizona homes during peak summer conditions.
“J.P. Morgan is working to provide capital to accelerate the growth of sustainable infrastructure nationwide. We’re very pleased to work alongside Strata to decarbonize our communities and build a more resilient energy future,” said John Beebe, Executive Director of J.P. Morgan Green Economy Banking.
The Tesla Megapack 2XL technology will be used throughout the Scatter Wash energy storage complex.
Strata’s development pipeline has 31,800 MWh of energy storage and 8,400 MW of solar power, according to the press release. That’s a lot of solar power — in particular, it’s an enormous amount of energy storage as well.
It was only 8 years ago that I wrote an article for this site about the Yerba Buena 4 MW / 28 MWh Energy Storage Project. Eight years is not that long, and yet it is now possible to install energy storage projects with a far greater capacity. The point is that energy storage and clean, renewable electricity can be scaled and are being scaled. Critics said it could not or would not be done and they have been proven wrong. In an additional eight years, will there be energy storage complexes multiple times larger than Scatter Wash?
Lest you try to dismiss this massive energy storage project as a one-off, Steve Hanley recently wrote an article about another whopper, this one in Hawaii. As important as these individual energy storage projects are, the overall trend toward larger and larger installations is equally significant.
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Jake Richardson.
Hello, I have been writing online for some time, and enjoy the outdoors. If you like, you can follow me on Twitter: https://twitter.com/JakeRsol
Jake Richardson has 1019 posts and counting. See all posts by Jake Richardson
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