Eolian is one of the most successful energy investors in the U.S. We’ve funded the development of 26 GW of operating generating capacity.
What we do
Since 2005, Eolian has been an innovative investor in energy projects, including the invention of the renewable energy royalty structure that has now become an industry standard. In contrast to many firms that raise capital with short-term buy and sell strategies, Eolian and its partners have long-term views of 30+ years. This allows for a unique perspective on energy investing and an alignment with the long-term generation planning perspective of utilities, independent power producers and power market operators.
CPS ENERGY SECURES 350 MW OF FUTURE BATTERY ENERGY STORAGE FOR GENERATION PORTFOLIO
This addition will bring the utility’s total battery energy storage to 400 MW under contract
August 28, 2024 (SAN ANTONIO) – CPS Energy, the largest municipally owned electric and natural gas utility in the United States, has entered into two storage capacity agreements (SCAs) with Eolian L.P. (Eolian) for a total of 350 megawatts (MW) of battery energy storage, adding to a 50 MW SCA signed with Eolian in 2023, as the utility continues the execution of its Vision 2027 generation plan.
The battery energy storage projects, called “Ferdinand” and “Padua 2”, have a storage capacity of 200 MW and 150 MW, respectively. Both projects are located in South Bexar County, Texas and will be newly constructed and expected to be online in the first half of 2026. Having storage resources strategically located in CPS Energy’s service territory contributes to overall grid resiliency and benefits customers.
Not including the 10 MW operational in the current portfolio, the signing of these SCAs brings CPS Energy’s total battery storage capacity under contract to 400 MW combined.
Dykema Gossett PLLC served as external legal advisor to CPS Energy in connection with the negotiation of the SCAs.
“I am proud of the work CPS Energy has done to secure another 350 MW of generation for our growing community,” said Rudy D. Garza, President & CEO of CPS Energy. “This is another step in executing on our Vision 2027 generation plan and we are excited about the benefits it will provide to our community through both reliability and economic development.”
“Following on to the 50 MW Padua 1 project already under construction for CPS Energy, this additional 350 MW of four-hour duration battery energy storage will provide new dispatchable capacity to the San Antonio area by mid-2026, representing the single largest buildout of standalone battery energy storage in ERCOT to date and proving that deployment of fast and flexible energy storage resources at critical grid locations can bridge the many years until new transmission can be constructed to further support load growth and alleviate systemwide congestion,” added Aaron Zubaty, CEO of Eolian. “These project locations were carefully chosen years ago to actually reduce the burden on the transmission system and enhance overall market operations by providing resiliency and reliability within load pockets and adjacent to retiring thermal generating units while reducing congestion on key transmission pathways.”
'Football fields' of batteries have helped Texas's grid when electricity demand is highest
Texas's battery storage capacity has increased about 2,500% since the 2021 winter storm. The booming industry has helped prevent Texas grid emergencies.
Author: Matt Houston (WFAA)
Published: 4:48 PM CDT August 20, 2024
FORT WORTH, Texas — Curious cattle lowed at the herd of people examining rows of shipping containers about thirty yards away on an overcast May morning. A heavy-duty fence surrounds the inconspicuous gray boxes. Air conditioners cooling their precious cargo emit a gentle hum. The property borders ranchland and an asphalt maker, all about three miles south of Hicks Airfield in Fort Worth. Electricity transmission lines cast a long shadow over the industrial site. "A lot of people saw, like us, the opportunity to fill a need," Stephanie Smith said, walking the gravel path between the boxes. As she turned into the array, an engineer unlocked one container to reveal its components: dozens of metal canisters resembling old computer hard drives, with neatly organized wires protruding from their ends. A "high voltage" sign warns onlookers away from the machines.
"What's happening in Texas is really exciting," Smith said. "I love what batteries can do for the grid."
Financially Backed by Global Infrastructure Partners (GIP)
Eolian, L.P. is a portfolio company of Global Infrastructure Partners (GIP), a leading independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP targets infrastructure businesses and assets in energy, transportation, digital, water and waste sectors where they believe their expertise and relationships provide a competitive advantage. GIP has grown to be one of the world’s largest infrastructure investors and currently manages $115 billion in assets on behalf of its global investor base. The companies in GIP’s equity portfolios have combined annual revenues greater than $80 billion and employ approximately 116,000 people. Visit https://www.global-infra.com/ to learn more.
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