Spearmint Energy acquires US energy storage project

Located adjacent to the King Mountain Wind Farm in the Lower Colorado River Authority Territory, US, Revolution will provide much-needed battery energy storage assets to West Texas’ ERCOT market, which has recently experienced a sea change due to increases in natural gas prices and load growth from technology, weaker outlook for solar build-out, and higher industry-wide demand for renewable power. Revolution is the first project in Spearmint’s portfolio since the company was launched in early 2022 and will provide clean, reliable energy to the grid upon development completion.

Andrew Waranch, Founder, President, and Chief Executive Officer of Spearmint, said, “We are pleased to call a project of this calibre – located not only next to one of the largest wind turbine developments in the US, but also a massive solar field – our first, as it demonstrates Spearmint’s commitment to helping solve the climate crisis by developing best-in-class solutions that store and release renewable energy to power the grid. It is clear to us that the rapidly growing demand for flexible generation assets in ERCOT is just getting started, and as such, we hope that by continuing to acquire projects like this one, we will help solve congestion issues across the state while empowering others to assist in our country’s clean energy build-out.”

Richard Cardone, Chief Operating Officer of Spearmint, added, “We named this Project ‘Revolution,’ because that is exactly what battery energy storage represents – the start of a new future in renewable energy. Battery energy storage is a modern approach to solving the climate crisis that can increase grid resiliency and help to allow cleaner, lower cost renewable energy connect to the grid. We are thrilled to be a part of this positive change.”

Revolution, which is one of the largest batteries in the state of Texas, is anticipated to reach notice to begin operation in 2Q23.

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