Power Vault Holdings Inc. has unveiled plans to deploy a 57 megawatt (MW)/114 megawatt-hours (MWh) battery vitality storage system (BESS) in Scurry County, Texas. The corporate mentioned in a media launch that it has additionally signed a ten-year offtake settlement with Gridmatic.
The corporate mentioned that the Cross Trails BESS, anticipated to start out industrial operation by the summer season of 2025, will present vitality and ancillary companies to assist renewable vitality manufacturing and enhance grid resiliency within the Electrical Reliability Council of Texas (ERCOT) area.
The offtake settlement with Gridmatic is predicted to start within the second quarter of 2025. Gridmatic has contracted to function over 300 MW of battery storage tasks throughout the ERCOT and CAISO markets.
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“This venture marks one other milestone in Power Vault’s world buildout of an vitality storage infrastructure that follows not too long ago introduced tasks within the U.S., Europe, and Australia the place the corporate will construct, personal, and function vitality storage methods and microgrids below long-term energy buy and tolling agreements”, the corporate mentioned.
“We proceed to execute quickly and advance our technique introduced earlier this 12 months in Might to leverage our deep battery system and software program experience to effectively construct, personal and function vitality storage property”, mentioned Robert Piconi, Chairman and Chief Government Officer of Power Vault. “Proudly owning vitality storage infrastructure performs a essential function in our dedication to ship long-term, sustainable shareholder worth whereas permitting the corporate to extra profitably and effectively capitalize on the rising world demand for vitality storage options”.
Matt Wytock, Chief Government Officer of Gridmatic, mentioned, “This BESS will ship elevated grid reliability and affordability for Texas residents as load progress continues to speed up”.
The BESS system might be constructed utilizing Power Vault’s proprietary merchandise.
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