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.

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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 

Jul 30, 2024, 09:00 ET
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.

"It is with deep gratitude to this esteemed group of global financial institutions that we announce another long-term financing backed by our portfolio of diversified and reliable cashflows, generated solely from a broad set of operating renewable energy projects across the US," said Eolian CEO Aaron Zubaty. "The closing of these facilities provides further validation of our creative and patient strategies for developing the vital infrastructure that will solve the growing energy supply challenges of the future."

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