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Batteries begin storing wind and solar energy for the Texas grid

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Elderberry:
Houston Chronicle by  Chris Tomlinson Sep. 7, 2020

Conventional wisdom maintains that wind and solar power depends on affordable energy storage, and until battery prices drop, the United States will rely on natural gas and coal-fired power plants.

A few years ago, most analysts thought it would take decades, but the clean energy future is much closer than most people think.

Able Grid Energy Solutions started construction last month on the largest stand-alone battery storage project in Texas, capable of providing 100 megawatts to help the Electric Reliability Council of Texas maintain and stabilize the state’s grid. The Chisholm Grid project will be one of the largest in the world.

More: https://www.houstonchronicle.com/business/columnists/tomlinson/article/Batteries-begin-storing-wind-and-solar-energy-for-15532401.php

Joe Wooten:
How much is the project getting in taxpayer funded subsidies?

Elderberry:
Renewable Roundup: Big banks lining up to finance big batteries

http://redgreenandblue.org/2020/05/14/renewable-roundup-big-banks-lining-finance-big-batteries/


--- Quote ---Able Grid launched in 2017 to go after two large renewables markets: sunny California and windy Texas. It focused first on project development. Cieminis approached banks early last year about a 50MW project in the Lone Star State, but there were no takers. The banks said the Texas project lacked a long-term revenue stream, and that the company’s 11MW project in California was too small. The lenders’ most common refrain about the California project: “I don’t want to write a check for $10 million,” Cieminis says he was told. By October, he gave up trying, and found an alternative funding source.

In early February, on a whim, he approached a few lenders that had completed storage financings. He was pleasantly surprised to find interest in two other Able Grid projects—100MW facilities in Southern California and Texas.

Recognizing  the sizable opportunity in batteries, some project finance banks have recently begun supporting battery developments, and others expect to follow soon. The U.S. Energy Storage Association trade group is aiming to have 35,000MW online by 2025. There are also climate change implications.

Banks aren’t the only companies that have approached battery financings cautiously. Others have concerns about being a first mover. “We don’t want to be the first company to go through their credit committee,” says Jeff Bishop, chief executive officer of Key Capture Energy, a battery storage developer.

Able Grid financed its first two projects with support from an undisclosed private equity firm. Such investors expect a return of at least 10%, whereas bank debt can often be had for 4%-5%. Cieminis is more optimistic that his latest projects will attract bank finance.

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GtHawk:
And what will the foot print of these batteries( more likely battery farms ) be? Will we eliminate even more open range to turn over to 'green energy'? Will this be more land that the Gaia worshiping EnviroNazis kept everyday people from enjoying it's use because they would damage the eco system and wildlife while applauding this type of destruction of the eco system and wildlife?

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