Plus Power
Plus Power develops, owns, and operates battery energy storage systems across North America, enhancing grid efficiency and reliability with a portfolio of over 60 projects and 10 GW in interconnection queues.
Company Overview
Plus Power develops, owns, and operates battery energy storage systems that enhance the efficiency and reliability of the electric grid. With a project portfolio comprising over 60 projects and growing, Plus Power plays a crucial role in stabilizing the grid by storing excess energy and deploying it during periods of high demand or emergencies. The company is operational in more than 25 U.S. states and Canadian provinces, contributing to grid stability with a total of 1650 MW / 4150 MWh battery energy storage either operational or under construction.
Projects and Initiatives
Plus Power's project initiatives include the Gambit Energy Storage facility in Texas, which responds in milliseconds to high energy demand and unexpected storms, and the Sierra Estrella Energy Storage project in Avondale, Arizona, which has a 20-year contract with Salt River Project (SRP). Another significant project is the Kapolei Energy Storage project in Hawaii, which secured US$218.8m in financing and won the Renewables Deal of the Year award from Project Finance International in 2021. Other noteworthy initiatives include the Rodeo Ranch and Anemoi projects in Texas, and the Sierra Estrella and Superstition Energy Storage projects in Arizona.
Battery Energy Storage Systems
Plus Power's systems support the grid by providing power plant-like grid services at scale. The company operates one of the largest standalone lithium-ion battery energy storage projects in Texas and the most advanced grid-scale battery energy storage system in the world in Hawaii. These storage systems help mitigate the challenges posed by an aging grid by storing energy during low demand periods and releasing it during peak hours, thus reducing congestion and supporting renewable generation.
Financial Milestones
Plus Power has secured significant funding to support its battery energy storage projects. The company has raised approximately $2 billion for five facilities in Arizona and Texas since October 2023. Additionally, Plus Power announced the completion of approximately $98 million in tax equity investment for its Ebony Energy Storage facility in Comal County, Texas. These financial milestones facilitate the construction and operation of high-capacity energy storage systems that contribute to grid resilience and reliability.
Office Locations
Plus Power's headquarters are located at 1780 Hughes Landing Blvd, Ste 675, The Woodlands, TX 77380. The company also has primary offices in Texas and California, as well as satellite offices in Seattle, Chicago, and Miami. These strategic locations enable Plus Power to efficiently manage its widespread operations and support its extensive portfolio of energy storage projects across the United States and beyond.