Eolian in the News
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'Football fields' of batteries have helped Texas's grid when electricity demand is highest
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.
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.
SRP and Aypa Power Announce New Battery Storage System to Help Meet Growing Energy Demand
Salt River Project (SRP) and Aypa Power have entered into an agreement to provide 250 megawatts (MW) / 1,000 megawatt-hours (MWh) of new energy storage to the Arizona grid.
The Signal Butte energy storage project will be a 250 MW, four-hour battery energy storage system located in the Elliot Road Technology Corridor in Mesa, AZ. The project will utilize lithium-ion technology and will have the capacity to power over 50,000 average-sized residential homes over a four-hour period. The project is scheduled to be operational by mid-year 2026.
“SRP is proud of our continued efforts to deploy battery storage, which will help us maximize use of renewable resources and decarbonize our portfolio in the coming years,” said Bobby Olsen, SRP Associate General Manager and Chief Planning, Strategy and Sustainability Executive. “The Signal Butte project will also help us meet the growing capacity needs of the Phoenix metropolitan area.”
AI is exhausting the power grid. Tech firms are seeking a miracle solution.
The mighty Columbia River has helped power the American West with hydroelectricity since the days of FDR’s New Deal. But the artificial intelligence revolution will demand more. Much more.
So near the river’s banks in central Washington, Microsoft is betting on an effort to generate power from atomic fusion — the collision of atoms that powers the sun — a breakthrough that has eluded scientists for the past century. Physicists predict it will elude Microsoft, too.
The tech giant and its partners say they expect to harness fusion by 2028, an audacious claim that bolsters their promises to transition to green energy but distracts from current reality. In fact, the voracious electricity consumption of artificial intelligence is driving an expansion of fossil fuel use — including delaying the retirement of some coal-fired plants.