GlidePath Power Solutions (GlidePath), one of America’s leading independent energy storage developers, today announced its acquisition of a 149 MW portfolio of wind farms in North Texas. The transaction adds to GlidePath’s operating portfolio of U.S. wind, solar and storage projects and provides the company with a unique opportunity to optimize the performance of the wind farms though the addition of battery storage.
This latest acquisition brings GlidePath’s operating portfolio to more than 445 MW, in addition to its development pipeline of more than 1 GW of battery storage projects across the United States. GlidePath is a portfolio company of Quinbrook Infrastructure Partners, a specialist investor in low-carbon and renewable energy infrastructure.
The wind portfolio, acquired from Exelon Generation, is comprised of eight distributed wind energy projects located north of Amarillo that serve the Southwest Power Pool (SPP) market. Terms of the sale were not disclosed.
GlidePath’s operations team will optimize the performance of the wind farms while the company explores opportunities to develop on-site battery storage systems, which it is believed would be the first battery storage projects in SPP territory.
“The high penetration of wind energy in North Texas offers us an excellent opportunity to pair these facilities with the latest battery storage technology,” said David Braun, President of GlidePath Asset Management. “We look forward to managing these wind assets in a way that will hopefully strengthen reliability of supply in the local electric grid and deliver benefits for Texas power consumers.”
This acquisition follows GlidePath’s recent announcement of the Prospect Storage project, a 10 MW/MWh standalone battery project located in the ERCOT market about 50 miles south of Houston. Prospect Storage is currently in advanced construction.
GlidePath’s development pipeline of more than 1 GW of battery storage projects includes multiple new facilities at various stages of permitting approval and pre-construction planning in New York, Texas and throughout the PJM grid operator’s service territory.
Source: GlidePath Power Solutions
Date: Aug 20, 2019