Elevate Renewables acquires Prospect Power Storage
Published by Abby Butler,
Editorial Assistant
Energy Global,
Elevate Renewables, an ArcLight portfolio company and a leading developer, owner, and operator of energy storage and hybrid generation assets, has acquired Prospect Power Storage, the largest standalone battery storage asset in the PJM Interconnection, from Swift Current Energy.
The 150 MW/600 MWh project, located in Rockingham County near Northern Virginia’s ‘Data Center Alley’, is currently under construction and scheduled to begin operations in mid-2026.
Prospect Power is fully contracted under a 15-year power purchase agreement with Dominion Energy Virginia, positioning the project as an essential energy resource to ensure cost-effective grid reliability and meet the rapidly growing demand for power across the Mid-Atlantic region.
Joshua Rogol, CEO of Elevate, commented: “The acquisition of Prospect Power underscores our commitment to building the energy infrastructure required to ensure continuous power for data centres. With its scale and strategic location within PJM, this project exemplifies the critical investments we are making to support the increased need for grid reliability and sustainability driven by growing power demand.”
Prospect Power continues Elevate’s strategy of partnering with premier energy developers and stakeholders to scale battery storage and deliver reliable, flexible power across PJM and other high-growth US power markets. In 2024, Elevate announced a 15 MW/60 MWh battery storage infrastructure project at the Arthur Kill Power Station in Staten Island, New York, which will be the largest battery storage installation in New York City upon completion.
Joshua Rogol added: “PJM is experiencing accelerating demand driven by artificial intelligence, data centre growth, and electrification. Prospect Power will provide the fast-responding, flexible capacity needed to manage peak loads and improve overall grid performance.”
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Read the article online at: https://www.energyglobal.com/energy-storage/16012026/elevate-renewables-acquires-prospect-power-storage/
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