- Arclight Capital Partners and Legacy thermal plant portfolio has committed US$150 million to its energy storage platform Elevate Renewable Energy.
- Pairing two different assets also significantly saves on security, monitoring and maintenance costs.
Arclight Capital Partners and Legacy thermal plant portfolio has committed US$150 million to its energy storage platform Elevate Renewable Energy. Arclight formed Elevate in 2022 to develop and install utility-scale battery energy storage systems co-located with existing power infrastructure.
According to a statement by Arclight, Elevate’s head of development, Eric Cherniss, spent three years at US utility Vistra. During this time, he was closely involved in two projects where the company developed the 1,200MWh Moss Landing project, the largest battery system in the world, which has since expanded to 1,600MWh, and the 260MWh Decordova project, the largest in Texas.
Co-located renewable projects with legacy plants and their substantial existing grid infrastructure is an effective way to get around grid connection bottlenecks, one of the main causes of delays to new projects. And as with any co-location, pairing two different assets also provides significant savings on security, monitoring and maintenance costs.