• A utility promised to stop burning coal. Then Google and Meta came to town.

    A utility promised to stop burning coal. Then Google and Meta came to town.

    An energy crunch forces continued coal burning in a low-income area as data centers strain the regional power supply.

    By

    October 12, 2024 at 5:00 a.m. EDT

    OMAHA — Residents in the low-income, largely minority neighborhoodof North Omaha celebrated when they learned a 1950s-era power plant nearby would finally stop burning coal. The community has some of the region’s worst air pollution and high rates of asthma.

    But when the 2023 deadline to rid that plant of coal arrived, the power company that owns it balked. Eliminating toxic emissions conflicted with a competing priority: serving massive, power-hungry Meta and Google data centers the utility helped recruit to the region before it secured enough new energy to meet the extra demand.

    READ MORE AT THE WASHINGTON POST

  • America’s Oil Country Increasingly Runs on Renewables

    America’s Oil Country Increasingly Runs on Renewables

    Texas, the biggest oil-producing state, has turned to solar power and battery storage to see it through extreme weather. But with demand rising, much more power will be needed.

    By J. David Goodman / Reporting from Houston / Sept. 18, 2024, 11:16 a.m. ET

    During the scorching summer of 2023, the Texas energy grid wobbled as surging demand for electricity threatened to exceed supply. Several times, officials called on residents to conserve energy to avoid a grid failure.

    This year it turned out much better — thanks in large part to more renewable energy.

    The electrical grid in Texas has breezed through a summer in which, despite milder temperatures, the state again reached record levels of energy demand. It did so largely thanks to the substantial expansion of new solar farms.

    READ MORE AT THE NEW YORK TIMES

  • 'Football fields' of batteries have helped Texas's grid when electricity demand is highest

    '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."

    Smith is chief operating officer at Eolian, which operates the Chisholm Grid battery farm. Eolian buys power off nearby transmission infrastructure to charge its array when electricity is plentiful and its wholesale price is low. It will sell that stored electricity back to the grid when demand drives up prices. The process is similar to stock trading. "You're trying to take advantage of the times when there's extra power, and then you're putting it in the market when the market needs it," Smith said.

    READ MORE AND WATCH THE INTERVIEW WITH STEPHANIE SMITH, COO 

Eolian in the News

Send all media inquiries to: media@eolianenergy.com

PRESS RELEASE Stephanie Seiferth PRESS RELEASE Stephanie Seiferth

Eolian and Group of Global Banks Announce Closing of $390 Million Renewable Energy Financing

BURLINGAME, Calif., July 30, 2024 /PRNewswire/ -- Eolian, L.P. ("Eolian"), a portfolio company of Global Infrastructure Partners ("GIP"), together with Santander Corporate & Investment Bank, MUFG, National Australia Bank, Natixis, Lloyds Bank, and SMBC, today announced the closing of a $315 million renewable energy green loan and $75 million revolving credit facility, building on a $515 million green loan closed in June 2023 with the same group of global banking institutions.  This financing is secured by a diverse group of eligible green project assets created by Eolian and is aligned with the four pillars of the Green Loan Principles, jointly published by the Asia Pacific Loan Market Association (APLMA), the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA) in February 2023.

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PRESS RELEASE Stephanie Seiferth PRESS RELEASE Stephanie Seiferth

Eolian Announces Closing Of $515 Million Green Loan

BURLINGAME, Calif., June 6, 2023 /PRNewswire/ -- Eolian, L.P. ("Eolian"), a portfolio company of Global Infrastructure Partners ("GIP"), together with Banco Santander, MUFG, National Australia Bank, Natixis Corporate & Investment Banking, and SMBC, today announced the closing of a $515 million renewable energy green loan. This financing is secured by a diverse group of eligible green projects developed by Eolian over the past 20 years and is aligned with the four pillars of the Green Loan Principles, jointly published by the Asia Pacific Loan Market Association (APLMA), the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA) in February 2023.

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PRESS RELEASE Stephanie Seiferth PRESS RELEASE Stephanie Seiferth

Eolian Closes First-Of-Its-Kind Standalone Battery Energy Storage Tax Equity Financing

BURLINGAME, Calif., Feb. 13, 2023 /PRNewswire/ -- Eolian, L.P., a portfolio company of Global Infrastructure Partners, has successfully closed the first-of-its-kind tax equity investment in two standalone utility-scale battery storage projects located in Mission, Texas. This pioneering financing is the first use of the Investment Tax Credit (ITC) structure by a standalone utility-scale battery energy storage system and is possible due to passage of the Inflation Reduction Act of 2022. Tax equity investment in the projects was provided by a fund managed by Churchill Stateside Group, LLC.

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PRESS RELEASE Stephanie Seiferth PRESS RELEASE Stephanie Seiferth

Eolian Announces Closing Of $925 Million Renewable Energy Financing

NEW YORK, April 21, 2022 /PRNewswire/ -- Eolian, L.P. ("Eolian"), a portfolio company of Global Infrastructure Partners ("GIP"), together with Banco Santander, Natixis, MUFG and Mizuho, today announced the closing of a $925 million renewable energy financing. This novel structured transaction will further advance multiple strategies already underway as the Eolian team rapidly accelerates the deployment of cost-effective decarbonizing technologies across the US.

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PRESS RELEASE Stephanie Seiferth PRESS RELEASE Stephanie Seiferth

Global Infrastructure Partners Announces Acquisition Of MAP® Energy's Renewable Energy Business

NEW YORK, Dec. 29, 2020 /PRNewswire/ -- Global Infrastructure Partners (GIP), a leading global, independent infrastructure investor, today announced the acquisition of MAP® RE/ES, the renewable energy business of MAP® Energy (MAP®). GIP's fourth flagship fund, GIP IV, will acquire 100% of the MAP® RE/ES investment platform, team, and renewable energy assets under management from MAP®, a private fund manager and energy investor. The assets include a portfolio of producing royalty interests across more than 16,000 MW of operating wind and solar projects in the United States, as well as a nationwide development pipeline managed through joint ventures with leading national and regional development partners. The MAP® RE/ES business will continue to be led by its existing investment team.

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