en.Wedoany.com Reported - Elevate Renewables, an ArcLight portfolio company, has commissioned a 150MW/600MWh battery energy storage system (BESS) project in Virginia. The facility is the largest standalone energy storage project in Virginia to date, as well as within the service area of the PJM Interconnection and wholesale market. PJM Chief Operating Officer Stu Bresler stated that this single project has increased PJM's battery storage capacity by 50%.
Elevate Renewables is a developer and independent power producer (IPP) founded and backed by infrastructure investor ArcLight Capital Partners. The two companies held a commissioning ceremony for Prospect Power Storage in Rockingham County, Virginia, attended by representatives from utility Dominion Energy, state and local officials, community leaders, and project partners. Elevate acquired the project from Swift Current Energy in January. The project is located near Virginia's renowned "data center alley." Swift Current raised $242 million for the project's development in 2025, having acquired it two years prior from a joint venture between Open Road Renewable Energy and Eolian. Elevate also has a similarly sized project in New Jersey, supported by the state's "Garden State Storage Initiative," which is included in its development portfolio. The company stated it has recently submitted 7.6GWh of BESS projects into PJM's interconnection queue. An article on ESN Premium last month discussed the load pressures PJM faces from electrification plans and the simultaneous dynamics of data center and industrial load growth.
Cypress Creek Energy has secured $3.5 billion in financing to support the first two phases of a 1.63GW/1.9GWh solar-plus-storage project in Arkansas. The project, named Steel River Energy Center, is being built in three phases and includes 2.45GW of solar photovoltaic capacity and 2.9GWh of battery storage, with overall completion expected by 2029. According to the IPP, the financing attracted strong demand from lenders and was highly competitive. Construction financing for the first two phases closed less than three months after Cypress Creek acquired the project from Swift Current Energy in March 2026. The financing was fully underwritten by initial coordinating lead arrangers Barclays, BNP Paribas, Santander, and Wells Fargo. Additionally, the IPP completed tax equity financing with an undisclosed tax equity investor, while long-term power offtake for the first two phases was secured through a virtual power purchase agreement (vPPA) with an investment-grade corporate counterparty.
Battery energy storage manufacturer and system integrator Kore Power will sell its subsidiary, Nomad Transportable Power Systems. Buyer Lixte Biotechnology Holdings, a pharmaceutical company, announced it has entered into a definitive agreement to acquire 100% of Nomad's outstanding equity. Nomad produces megawatt-scale BESS platforms; its 1MW BESS platform is UL9540 certified and meets the requirements of investor-owned utilities, electric cooperatives, municipal utilities, and large industrial users. Lixte Biotechnology CEO Geordan Purslove stated that the transaction will create "one of the first publicly traded companies focused on solving one of the biggest constraints to economic growth today: reliable power supply." The company noted that because the platform is classified as equipment rather than infrastructure, it may have a structural permitting advantage in communities reluctant to host large-scale BESS projects. Upon regulatory approval and completion of the transaction, the company will be renamed Nomad Power Solutions. Financial terms were not disclosed. This comes weeks after T1 Energy agreed to acquire parent company Kore Power for approximately $32 million. Kore Power had previously planned to build a 12GWh U.S. battery gigafactory in Arizona but canceled the KOREPlex gigafactory plans in 2025, shifting focus to its system integration division. T1 Energy is a U.S. solar manufacturing startup, formerly headquartered in Norway and trading as FREYR Battery. FREYR restructured after canceling its U.S. lithium-ion battery gigafactory plans in 2025 and acquired a U.S. solar factory from Chinese manufacturer Trina Solar. In a 2024 article focusing on emerging technologies for virtual power plants and mobile BESS, ESN Premium reported that Kore Power founder Lindsay Gorrill stated Nomad combines Kore Power's battery technology with the expertise of system integrator NRI, acquired in 2022.
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