Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Energy Storage Firm Eolian Acquires Able Grid Development Interests.

Document Cited in Related
Vincent

M2 EQUITYBITES-December 30, 2021-Energy Storage Firm Eolian Acquires Able Grid Development Interests

(C)2021 M2 COMMUNICATIONS http://www.m2.com

California-based energy storage company Eolian, L.P. has acquired all remaining outstanding interests in joint venture development portfolios of energy storage projects managed by US-based Able Grid Energy Solutions to expand global renewables investment strategy, the company said.

Eolian, L.P. is a Global Infrastructure Partners portfolio company.

Terms of the transaction were not disclosed.

In anticipation of the emergence of battery energy storage as a key component of reliable and cost-effective electricity market operations, Eolian and Able Grid have jointly pursued development of a portfolio of more than 10gw of energy storage assets across multiple markets in the US.

Since 2020 Eolian and Able Grid have collaborated on more than 300mw of energy storage assets in Texas and California that are now operating or under construction and owned by Eolian's subsidiary, Astral Electricity.

This transaction expands on GIP's global renewables investment strategy, which has a proven track record of value creation.

GIP's current portfolio includes approximately...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT