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    East Point Energy Announces Inaugural Energy Storage Projects in Texas

    2024-04-11
    https://img.particlenews.com/image.php?url=1yeI7U_0sNSqNIL00
    Construction started at Sunset Ridge in Frio County, Texas. Credit: East Point Energy

    CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--Apr 11, 2024--

    East Point Energy, an Equinor Company, has announced the start of construction of Sunset Ridge Energy Center (Sunset Ridge) in Frio County, Texas, as well as the final investment decision of the Citrus Flatts Energy Center (Citrus Flatts) in Cameron County, Texas.

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240411247497/en/

    Construction started at Sunset Ridge in Frio County, Texas. Credit: East Point Energy

    Sunset Ridge is an approximately 10 megawatt (MW)/20 megawatt-hours (MWh) battery storage project. It marks the first project for East Point Energy in Texas. Citrus Flatts, acquired by East Point Energy from Black Mountain Energy Storage (BMES) in late 2023, will be a 100 MW/200 MWh battery storage project.

    “It was a pleasure working with the East Point team, and we are pleased to have assisted them on their journey to be one of the most significant renewables and storage operators in the U.S.,” says Witt Duncan, Chief Commercial Officer of BMES. “East Point is committed to establishing prominence in the energy transition, and we are thrilled to help fuel the positive impact they will bring to the grid.”

    Construction for Sunset Ridge is already underway, with a commercial operation date for later this year. Meanwhile, construction for Citrus Flatts will begin this year, with commercial operation anticipated by early 2026. Once online, both projects will strengthen the reliability and resilience of the electric grid in the Frio and Cameron County areas.

    “Energy storage is essential to balance the supply with the increasing demand for energy in Texas. We’re excited that our projects will support a more renewable, resilient, and affordable grid for the Cameron and Frio communities, and the ERCOT market at large,” says Andrew Foukal, CEO of East Point Energy.

    “We aim to build a robust and diversified battery storage portfolio with an opportunity to scale, by leveraging the capabilities of East Point Energy and maximizing synergies with Danske Commodities,” says Christian Lie Hansen, vice president onshore renewables Americas and chair of the East Point Energy board. “Our ownership in East Point Energy creates a solid basis for building a material and profitable battery storage position across attractive U.S. power markets, delivering on our market-driven power producer strategy.”

    Danske Commodities is Equinor’s wholly owned energy trading house.

    East Point Energy, headquartered in Charlottesville, Virginia, is focused on the origination, development, construction, and operation of energy storage projects. East Point is a wholly owned subsidiary of Equinor, a broad international energy company committed to long-term value creation in a low-carbon future.

    View source version on businesswire.com:https://www.businesswire.com/news/home/20240411247497/en/

    Press Contact:media@eastpointenergy.com

    KEYWORD: UNITED STATES NORTH AMERICA TEXAS VIRGINIA

    INDUSTRY KEYWORD: OTHER ENERGY UTILITIES BATTERIES ENVIRONMENT ALTERNATIVE ENERGY ENERGY TECHNOLOGY GREEN TECHNOLOGY

    SOURCE: East Point Energy

    PUB: 04/11/2024 10:13 AM/DISC: 04/11/2024 10:13 AM

    http://www.businesswire.com/news/home/20240411247497/en

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