CleanCapital and Available Power form JV to build pipeline of distributed energy storage 

CleanCapital and Available Power have announced they have entered a joint venture to build a pipeline of distributed energy storage projects across the US, in which CleanCapital will provide project financing, development, and construction expertise and Available Power will provide market insights, technology, and engineering expertise to develop strategically-located batteries.    
CleanCapital and Available Power form JV to build pipeline of distributed energy storage 
Courtesy of NREL.

CleanCapital has made inroads into the energy storage market in recent years in an effort to diversify and complement its sizable solar portfolio. In all, CleanCapital’s near-term pipeline of storage assets exceeds 500 MWh. Available Power has built a robust pipeline of energy storage projects in the Texas market and plans to continue developing customised battery portfolios for emerging markets across the US.

“This strategic joint venture matches CleanCapital’s investment prowess and access to capital with Available Powers’ proven expertise in bringing grid-critical storage projects to fruition” said Jon Powers, President of CleanCapital.  

Developing energy storage assets is crucial to achieving the country’s goal of reaching 100 percent carbon pollution-free electricity by 2035. According to a recent report, US demand for battery energy storage systems (BESS) is likely to increase over six-fold from 18 GWh to 119 GWh by 2030. Accelerating the clean energy transition will require deeper investment into the solutions that support renewable energy sources. 

“By joining forces with an energy-sector trailblazer like CleanCapital, we’re taking a huge leap forward in our efforts to upgrade the overall power grid from the edge while strategically siting storage assets where they’ll have the most benefit” added Benjamin Gregory, President of Available Power. “We’re entering into this partnership with great optimism about what this work will mean for the US making progress toward its climate goals while supercharging the reliability of the power grid.”

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