COLUMBUS, Ohio, January 25, 2023 (Newswire.com)
Momentum Energy Storage Partners, a U.S. stand-alone energy storage developer, is pleased to announce the sale of a 75 MW / 150 MWh energy storage project located in West Texas, to Gore Street Energy Storage Fund.
“It was a pleasure working with Gore Street as they expand their position in the US,” said Ed Rode, one of Momentum’s cofounders. Gore Street Energy Storage Fund is London’s first listed energy storage fund supporting the transition to low carbon power in the UK and internationally. The project is the largest acquisition for Gore Street to date.
Momentum Energy Storage Partners has built a pipeline of 1 GW of projects across the US in Texas, Pennsylvania, and Maryland and is expanding to other states. Momentum develops projects in areas of the grid with high renewable penetration, exceptional volatility, and a need for increased reliability. “Increased buildout of renewables will require the firming and flexibility that energy storage offers,” said Davion Hill, one of Momentum’s cofounders.