ARKANSAS, January 9 (Future Headlines)- Spearmint Energy has achieved a significant milestone with the completion and commencement of commercial operations for Revolution, a 150 MW/300 MWh battery energy storage system (BESS) project located in West Texas. This achievement not only reinforces Spearmint’s position as a leader in Texas’ rapidly growing battery storage market but also underscores the pivotal role of energy storage in meeting the state’s electricity demand amid climate change challenges and fluctuating natural gas and oil prices.
Spearmint Energy collaborated with Mortenson, a renowned developer and engineering services provider, for the development of the Revolution project. The partnership, along with the support of other key contributors, facilitated the successful completion of the 150 MW BESS project.
Revolution achieved mechanical completion following the delivery and installation of Sungrow’s PowerTitan Series battery energy storage system. The project’s seamless execution highlights the efficiency and commitment of the workforce involved, with approximately 42,000 working hours contributed by 34 Mortenson craft team members and trade partners.
The Revolution project features 134 battery containers housing 6,432 Sungrow battery modules. Additionally, 45 power conversion system (PCS) units were installed to ensure the seamless functioning of the BESS. This comprehensive setup enhances the reliability and performance of the energy storage system.
Revolution was completed on schedule and within budget, a testament to Spearmint’s dedication to efficient project management. The on-time completion is crucial for meeting energy demands in a rapidly evolving market and solidifies Spearmint’s reputation in the Texas energy storage sector.
In October, Spearmint secured a $92 million tax equity investment in Revolution from Greenprint Capital Management. This investment marks one of the initial applications of the Investment Tax Credit structure for a standalone battery energy storage system post the passing of the Inflation Reduction Act, showcasing Spearmint’s financial acumen and ability to attract key investments.
Simultaneously, Spearmint Energy closed a $200 million credit facility with Aiga Capital Partners in October. The term loan supports the development of Spearmint’s extensive 1.2 GW/2.4 GWh portfolio of BESS assets in Texas’ ERCOT power market. The company’s commitment to expanding its utility-scale storage portfolio across the U.S. positions it as a key player in the nation’s renewable energy landscape.
Apart from Revolution, Spearmint’s portfolio of BESS assets in ERCOT includes three additional battery energy storage projects known collectively as Nomadic. Each of these projects targets a capacity of 300 MW, further contributing to the company’s substantial presence in Texas’ evolving energy sector.
Spearmint Energy’s battery projects, including Revolution and Nomadic, play a crucial role in enhancing grid resilience and reliability, particularly during challenging periods such as heatwaves and outages. Grid-scale battery storage has proven instrumental in supporting the Texas grid amid fluctuating energy sources and increased demand.
Despite the positive impact of battery storage on Texas’ grid resilience, challenges emerge in the form of potential ERCOT regulations. Proposed rules requiring battery storage assets to maintain a two-hour state of charge have raised concerns among battery companies. Advocates argue that such regulations could hinder growth and create obstacles for the battery storage industry in the state.
Reporting by Alireza Sabet; Editing by Sarah White