New York, NY – February 13, 2024 – Today CleanCapital and Available Power, a pure-play developer of investment-grade battery energy storage systems, announced they have entered a joint venture to build a pipeline of distributed energy storage projects across the U.S. In this strategic partnership, CleanCapital will provide project financing, development, and construction expertise; Available Power will provide market insights, technology, and engineering expertise to develop strategically located batteries.     

CleanCapital has made inroads into the energy storage market in recent years in an effort to diversify and complement its sizable solar portfolio. In all, CleanCapital’s near-term pipeline of storage assets exceeds 500 MWh. Available Power has built a robust pipeline of energy storage projects in the Texas market and plans to continue developing customized battery portfolios for emerging markets across the U.S. 

“This strategic joint venture matches CleanCapital’s investment prowess and access to capital with Available Powers’ proven expertise in bringing grid-critical storage projects to fruition,” said Jon Powers, President of CleanCapital.   

“By joining forces with an energy-sector trailblazer like CleanCapital, we’re taking a huge leap forward in our efforts to upgrade the overall power grid from the edge while strategically siting storage assets where they’ll have the most benefit,” said Benjamin Gregory, President of Available Power. “We’re entering into this partnership with great optimism about what this work will mean for the U.S. making progress toward its climate goals while supercharging the reliability of the power grid.”    

Developing energy storage assets is crucial to achieving the country’s goal of reaching 100% carbon pollution-free electricity by 2035. According to a recent report, U.S. demand for battery energy storage systems (BESS) is likely to increase over six-fold from 18 GWh to 119 GWh by 2030. Accelerating the clean energy transition will require deeper investment into the solutions that support renewable energy sources.  

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CleanCapital is a diversified clean energy company focused on the middle-market solar and storage industry. Mission-driven to mitigate the climate crisis, CleanCapital leads the energy transition with strategic investments in early-stage, new construction, and operating renewables projects and development partners. To date, the company has invested $1 billion in projects and companies, including the acquisition of BQ Energy, a national leader in landfill and brownfield renewable energy development. The company has successfully acquired and managed over 230 operating and new construction projects in 26 states and one U.S. territory, totaling 460 MW. More information about CleanCapital can be found at https://cleancapital.com/ 

Available Power is a pure-play developer bringing de-risked, investment-grade assets to the modern power grid to accelerate the energy transition and build the world’s premier DER platform. Currently focused on the Texas market, Available Power partners with real estate portfolio owners to site distributed energy systems such as batteries in locations where they create value for landowners, investors, and grid operators. The team is composed of experienced industry experts and young innovators delivering investment-ready portfolios of clean energy assets, covering site permitting, grid connection, EPC contracting, and asset optimization. For more information, please visit www.available-power.com.