Renewables Round Up: a blockbuster week for storage financing and grid transmission
GridStor closed $220M for its Arizona storage project, SMT Energy landed a $268M equity partnership with Climate Adaptive Infrastructure, and Form Energy closed a $270M credit facility, while Energy Vault absorbed a 2.3 GW storage pipeline from Goshe Energy Storage despite tariffs and shifting Treasury guidance creating headwinds for US grid-scale storage.
GridStor closed $220M for its Arizona storage project, SMT Energy landed a $268M equity partnership with Climate Adaptive Infrastructure, and Form Energy closed a $270M credit facility, while Energy Vault absorbed a 2.3 GW storage pipeline from Goshe Energy Storage despite tariffs and shifting Treasury guidance creating headwinds for US grid-scale storage.
RMI forecasts 30% annual growth in the US storage sector, even as Ares Management paid $800M for an 80% stake in a California solar-and-storage portfolio acquired from EDP Renewables.
The DOE pledged $1.9 billion toward 31 transmission projects expected to add 23 GW of capacity, while NYSERDA made its first-ever bulk storage awards, totaling 950 MW.