Greenflash Infrastructure LP said Tuesday it had acquired a proposed 200-megawatt (MW) battery energy storage system (BESS) project in Fort Bend County, Texas, from Advanced Power.
“The fully permitted, interconnection-ready project is expected to receive Notice to Proceed in 2026, with commercial operations targeted for mid-2027”, Houston-based power investor Greenflash said in a press release.
Greenflash managing partner Vishal Apte said, “This acquisition adds near-term, execution-ready capacity toward our five-gigawatt ERCOT [Electric Reliability Council of Texas market] buildout”.
Advanced Power chief executive Tom Spang said, “ERCOT, like other major power markets in the U.S., has an urgent need for projects that enhance grid reliability”.
“As a premier developer of thermal, renewable and now, BESS, technology, Advanced Power is committed to bringing these contemporary power solutions to companies like Greenflash, who recognize the region’s urgent and growing energy and capacity needs”, Spang added.
Advanced Power’s Rock Rose project “was selected for its interconnection position, transmission access and capacity to support grid reliability and flexible dispatch”, Greenflash said.
“The acquisition supports Greenflash’s strategy to deploy utility-scale battery projects across ERCOT”.
Rock Rose is Greenflash’s second battery energy storage project. Earlier this month it said it had completed hybrid tax capital and debt financing for Project Soho, a 400-MW standalone battery storage in Brazoria County, Texas.
“The project is the largest standalone BESS currently under construction in TX and is ahead of schedule to energize in Q1 2026, and achieve commercial operations in Q2 2026”, Greenflash said in an online statement October 7.
“We designed this financing structure to be a scalable, repeatable template for our five-gigawatt near-term ERCOT pipeline”, said Greenflash co-founder and vice president Joel Chisolm.
The financing included a preferred equity investment from funds managed by New York City-based Wafra Inc.
“Acadia Infrastructure Capital LP, a North American power infrastructure investment manager, invested preferred equity in Project Soho alongside Wafra”, Greenflash said. “The preferred equity investment is structured to facilitate a tax credit sale to a leading U.S.-based insurance company.
“The transaction also included debt financing led by Deutsche Bank which served as coordinating lead arranger and sole bookrunner”.
Greenflash is a portfolio company of Miami, Florida-based global investor HIG Capital LLC, which announced the acquisition of a controlling stake in the company September 25, 2024.
Greenflash says it acquires, develops, finances, owns and operates grid-scale energy storage, power generation and data center powered shell infrastructure globally.
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