Acciona Buys Seven Battery Energy Storage Projects with 1 GW Pipeline in Texas
The projects will supply power to Texas’ system operator ERCOT
Acciona Energía has acquired the 190 MW/380 MWh battery energy storage system (BESS) facility in Cunningham, Texas, U.S., from Qcells, a subsidiary of the South Korean industrial group Hanwha Corporation.
The Madrid-headquartered company said that the deal would also include the acquisition of over 1 GW/2 GWh of BESS projects portfolio at an advanced stage of development.
The deal value has not been disclosed by the involved parties.
The 190 MW/380 MWh facility will be the largest in Texas upon its commissioning in the first quarter of 2023.
Acciona said the transaction reinforces its position as a leader in utility-scale storage tech and a player in the energy transition in the U.S.
The company’s acquisition includes seven projects in total — six under development and Cunningham – all of which are eligible for the Investment Tax Credits offered by the U.S. government to boost the deployment of renewables, increase energy security and help reduce the cost of energy under the Inflation Reduction Act.
Acciona Energía operates over 1GW of wind and concentrating solar power. Additionally, it has a portfolio of four photovoltaic solar plants under construction — Fort Bend Solar (316 MWdc) and Red-Tailed Hawk Solar (460 MWdc) in Texas, High Point Solar (127 MWdc) in Illinois, and Union County Solar (415 MWdc) in Ohio.
Rafael Mateo, CEO of Acciona Energía, said: “This transaction is an important milestone, as it includes the biggest BESS utility-scale project in one of the world’s most developed BESS markets.”
He added that with 1,214 MW operation and under-construction renewable capacity in Texas, the deal is an opportunity for the company to strengthen its presence and optimize the risk profile of its portfolio.
Jae Kyu Lee, President of Qcells USA Corp, said: “Qcells is proud to provide our unique development and EPC solutions to ACCIONA Energía and bring this project to life … We are confident that these projects will benefit the entire energy sector in Texas by making clean, reliable energy more accessible for everyone.”
The standalone battery storage facilities will supply power and ancillary services to the independent system operator, the Electric Reliability Council of Texas (ERCOT).
ERCOT manages electricity transmission, distribution, and commercialization for approximately 90% of the state’s electric load.
Recently, the U.S. Energy Information Administration estimated that power developers and project owners would add utility-scale battery storage capacity of up to 30 GW in the country over the next three years.